We hope everyone had a great Independence Day holiday!
Before the news, a quick reminder that it’s just three weeks until the Marcellus-Utica Shale Water Business Update (Jul 29 Pittsburgh) and three months until the 4th Annual Oilfield Water Industry Update (Oct 5 Houston).
We hope to see you at one or both events!
Now, here is this week’s industry news & analysis…
New Mexico and Texas feud over Rio Grande on cusp of 'historic settlement'
New Mexico Attorney General Hector Balderas announced Tuesday that a special master appointed by the court cleared the way for ongoing negotiations and set a date in July for a status update.
Gravity Signs Midland Basin Committed Volume Produced Water Agreement
"We are excited to announce this multi-year agreement and will be expanding our West Howard County System capacity by over 100,000 barrels per day to manage the new committed volumes. This producer will anchor approximately 50 percent of the pipeline expansion, and we look forward to locking in the remaining capacity commitments in the near future."
BLM Announces Lease Sale Results
The U.S. Bureau of Land Management (BLM) has announced oil and gas lease sale results for Wyoming, Colorado, Montana/Dakotas, New Mexico, and Nevada.
MSC, GO-WV, OOGA: American Natural Gas-Driven Energy Security
As we celebrate Independence Day, it’s important to understand the critical role American natural gas plays in both ensuring the world has access to affordable, reliable, clean energy and underpinning our own national security.
Utica Driller Gulfport Energy Considers Merger with Encino Energy
Sources whispering to Bloomberg say that Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), is having exploratory talks with Encino Energy about selling itself to/merging with Encino.
WATER TALENT POOL: WaterBridge Hiring
Chevron Earns Project Canary's Highest Ratings
The Project Canary analysis was launched in February and examined 85 producing wells in the Midland basin of the Permian in Texas and the DJ basin in Colorado. Platinum status – Project Canary’s highest – was awarded to 82 wells while the other three earned Gold status. Chevron plans to market responsibly sourced gas (RSG) from the wells – which produce about 80mn ft3/day combined – starting later this year.
$6 billion Oasis and Whiting Petroleum merger latest in accelerating deals market
The combined company now holds about 972,000 net acres in the Williston Basin, which spans across parts of the Dakotas, Montana, and into Canada. In the first few months of the year the companies produced more than 170,000 barrels per day of oil equivalent, including natural gas.
Summit Midstream Partners, LP Announces Closing of Lane Gathering and Processing System Sale to a Subsidiary of Matador Resources Company
Summit Midstream closed on the previously announced sale of Summit Midstream Permian, which owns the Lane Gathering and Processing System in the Delaware Basin to a wholly owned subsidiary of Matador Resources Company for a cash sale price of $75 million, excluding customary transaction adjustments. Matador also assumed Summit Midstream Marketing's take-or-pay firm capacity on the Double E Pipeline associated with the Lane G&P System.
Oil prices fall in volatile trade on recession fears
Oil prices fell in volatile trading on Wednesday, extending Tuesday’s heavy losses as growing fears of a global recession outweighed supply concerns.
Travel Seems to Only Be Increasing
While prices remain high, it does not appear to have reduced the amount of travel for the average family this summer. In fact, travel seems to only be increasing as many families are resuming regular annual vacations post pandemic.
Citi Warns Oil May Collapse
Crude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits, Citigroup Inc. has warned.
OPEC+ Close to Max Capacity
OPEC+ is close to maximum capacity, BofA Global Research highlighted in one of its latest reports, which was sent to Rigzone earlier this month.
U.S. adds 8 billion barrels of recoverable oil as global estimates fall, analysis shows
The total estimate of the world’s recoverable oil is down 9 percent this year, though estimates are up in the U.S., according to Norwegian firm Rystad Energy.
Oil Industry Produced Water Treatment Firm Messaben Completes Two New Acquisitions and Opening of Satellite Offices
Messaben, a company focused on creating sustainable solutions by recycling produced frack flow back and waste water for primarily the energy and oil and gas sectors, announced they have entered into a 100% acquisition agreement with Themark Corporation ("TMC") and its subsidiary Recyclean Consultancy Services. Both companies specialize in environmentally innovative electrochemical process designs of chemical engineering solutions.
USA Drops Rigs Week on Week
Baker Hughes’ latest count showed that the U.S. dropped four land rigs and added one offshore rig week on week.
U.S. Supreme Court rules EPA overstepped in climate regulation
In a 6-3 ruling, the court said under existing federal pollution laws the Environmental Protection Agency could not set industry-wide limits on carbon emissions, calling the EPA's rulemaking, "unprecedented” and a “fundamental revision" of the Clean Air Act, which Congress last updated in 1990.
Stricter Federal Guidelines On 'Forever Chemicals' In Drinking Water Pose Challenges
On June 15, the Environmental Protection Agency (EPA) released updated health advisories warning that even tiny amounts of two types of man-made compounds, PFOS and PFOA, are harmful to humans. Currently these compounds are found in drinking water systems across the U.S. Philippe Grandjean, adjunct professor of environmental health at Harvard T.H. Chan School of Public Health, discusses the new guidelines.
Big Green Pressures Fed EPA to Block 2nd Plum, PA Injection Well
Plum Boro (Allegheny County, PA) officials and environmental leftist groups (backed by Big Green foreign money) are gearing up to oppose Plum’s second wastewater injection well.
Marcellus: Allegheny County Council votes to ban drilling in county parks
Loren Anderson writes: "Terribly shortsighted. Drilling horizontally under state parks and elsewhere in Allegheny County has resulted in sustainable energy, while reducing GHG emissions and the carbon footprint."
NextMart Announces New Chief Executive Officer
NXMR announced that it has named Oscar Maldonado as the new Chief Executive Officer and President of the Company. Mr. Maldonado was the former owner and officer of Two Brothers, LLC, a specialized oil field service company (“Two Brothers Service”), which was acquired as a wholly owned subsidiary by the Company.
California Utilities Turn To Smart Water Meters Amid Water Scarcity
The adoption of cutting-edge drinking water utility technology amid ongoing drought in California is demonstrating that necessity truly is the mother of invention.
Environmental groups sue Biden administration for resuming oil and gas lease sales
A coalition of environmental groups on Wednesday sued the Biden administration over its approval of oil and gas lease sales in four Western states.
Voter fraud claims are heating up a battle for political control in an oil-rich Texas county
Eleven people are registered to vote at an old farm in Loving County, Texas. But the sheriff says no one lives there.