Here is this week’s industry news & analysis…
News Digest
Bakken Trends In Reclamation & Produced Water Management
At Goodnight Midstream’s Nelson Saltwater Disposal Site near Keene, handling produced water from oil activity is serious business. “I believe Midstream is doing it the right way,” said landowner Donny Nelson of Keene, whose family has lived in the hub of oil activity since the 1950s. “The facilities and the technology they’re using, I think, is probably the best right now.”
Shell ordered to pay $670K for releasing sediment pollution in southwestern Pa.
The Pennsylvania Department of Environmental Protection has ordered that the Shell Pipeline Company and its construction contractor pay $670,000 in fines for releasing sediment pollution into state waterways.
Summit Midstream Partners, LP Announces Synergistic And Accretive Bolt-On Acquisitions In The DJ Basin'
Summit Midstream Holdings has entered into definitive agreements to acquire Outrigger DJ Midstream and Sterling Energy Investments, Grasslands Energy Marketing and Centennial Water Pipelines.
U.S. rig count sees its largest jump in 11 weeks
The number of operating oil and gas drilling rigs in the United States had its biggest jump since July -- when oil was trading at more than $100 per barrel.
Proud to announce Wanner Engineering, Inc. (Hydra-Cell Seal-less Pumps) as a GOLD sponsor for our May 2023 Oilfield Water Markets Conference.
This week, we announced that Wanner Engineering joined our May 17-18, 2023 conference (ft worth convention center) as a repeat GOLD sponsor. The event may seem like a long way out, but Wanner's Hydra-Cell Sealless Pumps is already the 6th sponsor to join the event, which was just announced a couple weeks ago! Check out the event website and plan to join Jim, his team, and the rest of the industry there!
Diamondback Strikes
Faster than a rattlesnake on a jackrabbit, Texas-based Diamondback has taken a new bite of the Permian.
Oil and gas companies continue deal making despite concerns
Even as oil investors remain concerned about a potential recession, merger and acquisition deals in the oil and gas production sector are booming.
USGS New Water Cycle Diagram
The water cycle describes where water is on Earth and how it moves. Human water use, land use, and climate change all impact the water cycle. By understanding these impacts, we can work toward using water sustainably.
Feds are putting a price tag on water in the Colorado River basin to spur farmers to conserve
The federal government is designating $4 billion from the Inflation Reduction Act for drought mitigation work in the Colorado River basin.
Department Of State Report Outlining 2022-2027 Water Strategy
The global water crisis threatens U.S. national security and prosperity. Water insecurity endangers public health, undermines economic growth, deepens inequalities, and increases the likelihood of conflict and state failure. Strong water, sanitation, and hygiene services, finance, governance, and institutions are critical to increasing resilience in the face of global shocks and stressors, such as the COVID-19 pandemic and climate change.
J.P. Morgan’s Michael Cembalest Details The Elephants In The Energy Room
Every year for the last 12 years, Michael Cembalest, the Chief Investment Officer at J.P. Morgan asset management, has published a report on the state of the global energy space. It is a comprehensive assessment of the state of play in the world of energy, chock full of charts and data related to every industry segment. Cembalest titled this year’s edition of the report - which is a service to customers but is also publicly available - “The Elephants in the Room.”
Appalachia Produces Third of U.S. Natural Gas – Federal Data
One-third of U.S. natural gas production comes from Appalachia and it is pushing total output to record highs amid growing demand, the federal government said today. Between 2020 and 2021, total natural gas production increased 3.5%, with Pennsylvania and Texas accounting for the lion’s share.
US Gas Exports Primed to Soar, but Constrained Appalachia Can’t Meet the Moment
Infrastructure constraints in the Marcellus and Utica shale plays are not just keeping the natural gas in, they are keeping capital out.
Could Fracking Issue Help Elect Next Governor in New York State?
Given skyrocketing prices for natural gas (and oil-based products) in the Empire State, Zeldin’s support for fracking appears to be having a positive impact on the race. Zeldin, a fracking supporter, may even win–although it’s still a long shot.
Can Fracking Solve The U.K.'S Energy Crisis?
The government hopes shale gas can accelerate domestic energy supply with the aim of the UK becoming a net energy exporter by 2040.
More States Look to Blacklist BlackRock, Other ESG-Focused Funds
More states are looking to divest state pension funds from BlackRock and other woke ESG investment banks that push anti-fossil fuel agendas.
Harvard Endowment Lost $2.3B Last Year Due to ESG Investing
ESG investing is a euphemism from environmentalists that means divesting from fossil energy companies. The huge California Public Employees’ Retirement System (CalPERS), with $479 billion in assets under management, has been investing using ESG guidelines for more than a decade. A recent Wall Street Journal article revealed CalPERS has lost huge amounts of money by focusing on ESG investing (see Dark Side of ESG – Huge Losses for Investors, High/Regressive Taxes). Harvard went all-in last year with its ESG investing program–and lost $2.3 billion!
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