Here is this week’s industry news & analysis…
Pioneer Says Their Water Is A Competitive Advantage, Enabling A 3rd Simulfrac Fleet Early Next Year
On their earnings call last friday, management said: "That's what I think really separates Pioneer, is the water infrastructure that has really the ability to move water around so we can actually add, be it two simulfrac fleets consistently and get to that third simulfrac fleet." Later in the call they said they'd be adding a 3rd simulfrac crew early next year...
Gravity Divests Chems To Focus On Water Logistics
The sale to Coastal Chemical Co. allows Gravity to increase focus on core, high-growth, higher-margin water logistics and power generation business lines. Financial terms not disclosed...
Aris Water Solutions, Inc. Acquires Water Treatment Technologies from Water Standard and Appoints Lisa Henthorne as Chief Scientist
Aris Water Solutions, Inc. (NYSE: ARIS) (“Aris,” “Aris Water,” or the “Company”) announced today that it has acquired certain intellectual property rights and related proprietary treatment technologies and assets from Water Standard Management (US), Inc. (“Water Standard”) that support and accelerate the advanced treatment and beneficial reuse of produced water in the Permian Basin.
Welcome New 2023 Sponsors As Exhibit Space Flies Off The Shelf Six Months Ahead Of Our Next Oilfield Water Markets Conference In Fort Worth!
Several new sponsors have registered for our May 2023 event over the past week and we'd like to take a minute to welcome CORE Linepipe, ISCO, and Gajeske. Check out all 10 early sponsors here - the event is still 6 months out, but already 1/3rd of the Gold and Silver exhibit space has been reserved. Our special add-on opportunities are going fast too. Discussions with multiple additional sponsors are underway. We know that many of you plan to include our flagship event of 2023 in your marketing plan next year. So we highly encourage you to secure your spot before year-end as space is limited and first come first serve. At the rate sponsorships have been going this far out, they will be gone well in advance. Deferring payment to 2023 is an option, and you can make sure your organization is represented by replying to this email or simply register online...
Mark Your Calendars For The Biggest Water Business Gathering In 2023 - May 17-18
Quick event details for your calendar:
- May 17-18, 2023
- Fort Worth Convention Center
- 400+ Attendees Expected
- Top Golf Outing Optional
SWN's Sustainability Report Is Out, Highlighting Water Neutrality
"Our legacy of strong environmental leadership is also based on our commitment to minimizing the impact our operations have on local water resources. In 2014, we set a goal of being fresh water neutral, returning more fresh water back to the environment than we consume. In 2021, we achieved our sixth year of fresh water neutral operations, having delivered nearly 16 billion gallons of fresh water to local communities — which was more than we consumed over those six years."
Tetra Technologies Reports Earnings
Water & Flowback Services revenue of $76 million improved $29 million or 62% year-on-year, and $9.9 million or 15% quarter-on-quarter. Adjusted EBITDA of $13.2 million improved by $8 million or 158% year-on-year, and $3.2 million or 33% quarter-on-quarter. This marks the highest Adjusted EBITDA since the fourth quarter of 2018. Water & Flowback Services Adjusted EBITDA margins of 17.4% were up 230 basis.
Stakeholder Midstream Announces FID on 2nd Treating Train At Campo Viejo
The expanded facility will further increase support for the growing volumes of natural gas from operators drilling horizontal oil wells targeting the San Andres formation of Yoakum County, Texas and Lea County, New Mexico (the “Horizontal San Andres”)
Antero Fresh Water Deliveries Rise
Fresh water delivery volumes averaged 103 MBbl/d during the quarter, a 13% increase compared to the third quarter of 2021.
Hess Midstream Water Gathering Volumes Up 12% y/y
Throughput volumes increased 24% for gas processing, 20% for gas gathering, and 12% for water gathering compared with the prior-year quarter primarily due to increased Hess drilling activity, higher gas capture and higher gas processing volumes in the third quarter of 2022 following the planned turnaround at the Tioga Gas Plant in the third quarter of 2021.
Eagle Ford Earth Quake
M 3.0 - 5 km ESE of Fowlerton, Texas on 10/26
Claros Technologies, Kureha partner to power clean technologies by capturing valuable metals in oil- and gas-produced water
The 12-month project will develop nanosorbent technology that can recover lithium, zinc, and cadmium from produced water for reuse.
Permian Strategic Partnership and Permian Road Safety Coalition start second ‘First Responder Life Saving Equipment Initiative’
This year’s initiative totals over 3.1 million dollars and supports 82 first responder departments in West Texas and Southeast New Mexico.
Range Resources CEO Says Marcellus, Utica Shales Vital to Stabilize Natural Gas Markets
Range Resources Corp. is “in the best position in the company’s history” amid a tightly supplied global natural gas market, CEO Jeff Ventura said.
Southwestern 3Q – Production Up, Revenue Way Up, Added 31 Wells
Southwestern Energy, which along with EQT and Chesapeake Energy, is one of the three leading producers of natural gas in the U.S., issued its third quarter update last Friday.
Biden threatens oil companies with windfall tax, calls out 'war profiteering'
President Joe Biden threatened Monday to impose a tax on oil companies' "excess profits" if they don't take steps to try to lower the price of gasoline and other fuels.
High oil prices continue to benefit oil field services sector despite fears of an economic slowdown
"Fundamentals" -- a tight global oil supply, rising energy demand and steady or increasing oil prices -- will entice producers to increase output and continue to demand drilling equipment, technology and services. And they're not expected to change anytime soon.
Pa. Nat Gas “best defense against tyranny”; But Policy Action Needed
Expanding global natural gas access is key to reducing energy poverty, enhancing national security and securing a more sustainable and resilient global economy, Pennsylvania elected officials, industry, and labor organizations highlighted during a committee hearing in Philadelphia.
Eversource Tells Biden w/o More NatGas New England Gets Blackouts
Eversource, the region’s largest utility company, sent a letter last Thursday to President Biden urging him to assemble a panel and figure out how to ensure natgas flows to New England (via LNG) this winter–because if it doesn’t, this IS the year rolling blackouts become reality.
Surge Energy US offers public look at sustainability initiatives
A frequent lamentation among those in the oil and gas industry is that the industry does not do a good job of telling its story, including how it is working to improve its environmental footprint. Surge Energy US Holdings, a Houston-based subsidiary of Shandong Xinchao Energy, has taken that criticism to heart and is releasing its first public Corporate Sustainability Report.
Cleanup underway after leak at Prospect Energy oil and gas site north of Fort Collins
State and county health officials discovered a crack in the water flow line of a Prospect Energy oil and gas facility north of Fort Collins Tuesday, prompting state agencies to investigate and initiate a cleanup effort.
How George Yates Aims to Help Solve Europe’s Energy Crisis
At a time when the world needs him most, the third-generation oilman and HEYCO Energy Group CEO comes off the sidelines to bring industry innovations across the pond.
Mike Pence lauds Permian Basin oil and gas growth at Artesia visit amid pollution concerns
Pence met with elected officials and executives from fossil fuel companies at the Artesia Public Schools administration building for an invite-only “energy roundtable” hosted by the city’s Chamber of Commerce.