Oilfield Water Weekly

Thanks to everyone who joined us last week in Pittsburgh for the Marcellus-Utica Shale Water Business Update (pictures are on the website). It was a great and productive time, and we were thoroughly impressed with the advancement that northeastern E&P and service thought leaders are making in sustainable water management. We’ll be back next year!

A link to pictures, attendee list, and the presentations slides was sent to attendees yesterday (if you came and didn’t receive that email, just reply to let us know and we’ll resend).

Up next, we look forward to seeing you in Houston on October 5th for the 4th Annual Oilfield Water Industry Update.

Now, here is this week’s industry news & analysis…


News Digest

Water Earnings Season: Tetra Technologies Posts Solid 2Q22 Results - Cash Flow Above Expectations, EBITDA In Line

Revenue growth of 8% q/q was driven by water and flowback services. Integrated water management projects increased from 55 projects in the first quarter of 2022 to 62 projects with 36 different customers in the second quarter of 2022.

Water Earnings Season: Big Beat For Select Energy Services

Select Energy Services posted EPS well above consensus for the third consecutive quarter. The Water Services segment generated revenues of $196.0 million in the second quarter of 2022 as compared to $163.6 million in the first quarter of 2022 and $76.7 million in the second quarter of 2021. Gross margin before D&A for Water Services was 19.4%. The Water Infrastructure segment generated revenues of $60.3 million in the second quarter of 2022, as compared to $58.6 million in the first quarter of 2022, with 25.5% gross margins.

The great saltwater flood in the Permian Basin

The Permian produces billions of barrels of highly saline water every year. Water management must be optimized to facilitate the projected increase in oil and gas production in the coming years. However, new regulations related to induced seismic activity pose major headwinds to water management and production growth.

Orion Diversified Announces an Acquisition in the Permian Basin

The property consists of a royalty interest in 6,360 acres producing 35 bopd & 10mcfgpd. Orion now has mineral ownership in 15,640 Acres in the Permian Basin Wolfcamp Shale & Sprayberry fields.

$219M Permian Basin oil and gas land sale closes, company to cash-in on region's growth

Denver-based oil and gas company Sitio Royalties continued to up its presence in the Permian Basin, buying up more land in the U.S.’ busiest oilfield as energy markets continue to grow amid renewed demand following the COVID-19 pandemic.

Permian Basin UWCD water level averages

Each year the Permian Basin Underground Water Conservation District (PBUWCD) conducts measurements on observation wells in Howard and Martin Counties. The results of those measurements help determine the annual change of the aquifers in this area.

One Equity Partners’ Omni Environmental Solutions Merges with Purity Oilfield Services

Transformative Combination Creates New Environmental Services & Equipment Powerhouse with Nationwide Reach

Water Wednesday: Trucking vs. Pipe Volume Stats

Transporting produced water via pipeline has a lower carbon footprint than trucking, and gets water to the disposal well quicker. In North Dakota, the median trucked water distance is ~5 miles, compared to ~3 miles for piped water. Things are more spread out in Texas, with water traveling ~13 miles by truck and ~9 miles by pipe. Disposal costs are tied directly to distance, so disposal method has an impact on economics.

What matters in liquid/solids separation applications?

There’s the polymer…what polymer, what and how much charge, what molecular weight and molecular weight range, how much branching in the polymer and the feed point…

PSA After Terrible Wreck In Kermit Yesterday

Stay off the phone, hands on the wheel, eyes facing out the winsdshield in front of you and keep your distance from others to have a safe way out please! This happened in Kermit today.

After Dealmaking, Crestwood Looking to ‘Big Year’ in Permian, Williston

After a series of acquisitions, Crestwood Equity Partners LP is now in “harvest mode,” with a focus on generating strong growth in the core areas of the Williston, Permian Delaware and Powder River basins, management said.

SWD MARKETPLACE: Permits For Sale

For sale or JV: 16 saltwater disposal permits that include the land and access in the Delaware Basin.

SWD MARKETPLACE: BuySWD Update

Today, the platform has over 350 properties listed with an estimated inventory value approaching $1 Billion.

WATER TALENT POOL: JGL Solutions Is Hiring

Field Service Technician in West Texas.

WATER TALENT POOL: Keystone Clearwater Solutions Seeks HSE Manager

If you're in a HSE minded individual and looking for a position that takes pride in a progressive approach towards Safety, check out our latest opening!

WATER TALENT POOL: Basin Water Resources Hiring Office Manager

Tammy Ireland is hiring if you know anyone that might be interested...

ICYMI: Water Geekery In The Marcellus

"Excellent to see & hear old friends present today. Excellent new insights from outside #Appalachia as well. Call it "water-geekery" but I absorb as much wisdom and peer insight as I can at a strictly #Water conference like this." - Johnny Goff

ICYMI - Great Game At Pittsburgh Pirates With 50 Industry Peers!

Pictures from the Marcellus Shale Water Conference baseball outing

ICYMI: CEO Thomas Stabley Comments On The Marcellus Event Last Week

The recent Marcellus Shale Water Business Update in Pittsburgh with Oilfield Water Connection was a fantastic opportunity for us to share views and learn from thought leaders from midstream, service, transportation, advisory, and data firms. Thank you Keystone Clearwater Solutions for adding greatly to the event!

ICYMI: CDX Energy Services Had A Strong Presence In Pittsburgh

"We are excited to be apart of the Oilfield Water Connection Marcellus Shale Water Conference," writes Chad Frizzell.

ICYMI: Unique Takes On ESG & Water

What a great panel to wrap up the day - experts from service, academia, consulting and E&P coming together to talk about the ESG of water and how to turn produced water streams into assets instead of liabilities!

ICYMI: Great Turnout Of About 100 Water Pros, Heavy On E&P Participation

Great turnout for yesterday's Marcellus Water Business Update. Lot's of informative topics and speakers on the state of the oilfield water industry.

ICYMI - Great Case Study From CORE Linepipe

Aethan presenting CORE Linepipe at the Oilfield Water Connection Marcellus in Pittsburgh July 29, 2022.

ICYMI: Great Day At The Conference

"We had a great day at the Oilfield Water Connection today in Pittsburgh. It was great to participate in this new conference focused on the business of water management in the Appalachian Basin."

ICYMI: All The Right Folks Came!

"First Oilfield Water Connection #Marcellus & #Utica Shale business update. Even Kelly Bennett showed up & expanding operations to this market."

Diversified Energy Buys ConocoPhillips Assets in TX, OK for $240M

Diversified Energy continues to expand outside the Marcellus/Utica region.

Oil and Gas Production Is Causing a Worrying Number of Earthquakes

The number of earthquakes has been steadily increasing in the West Texas and New Mexico area known as the Delaware Basin since 2009. The bulk of them may be connected to oil and gas extraction, according to a study conducted by scientists at The University of Texas in Austin.

CNX 2Q – Profits Up, Production Up, Expenses Down, Free Cash Flows

The company made $33 million in profit for the quarter, versus losing $354 million in 2Q21. It generated $62 million in free cash flow. Total 2Q revenues of $473 million improved 32% year over year from the prior-quarter level of $359 million.

EQT Won’t Increase Production Until it Can Move More Out of Basin

Don’t look for EQT to increase production any time soon–not until (says top management) it can get more of its molecules to markets outside of the Marcellus-Utica.

Mountain Valley Pipeline wants another four years to finish work. Virginians remain split.

Initially expected to be completed by 2018, Mountain Valley has faced staunch opposition from environmental groups and some landowners who object to the company’s crossing of their property.

From the C-Suites to the Media, When It Comes to Energy, We Need More Balance, Less Fear

We were once a country that worked together in cleaning up pollution and using technological and scientific developments to produce energy cleaner and safer.

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