Happy New Year!
As you hang your new 2023 calendar on your office wall, please flip ahead to May and block off May 17-18.
On those days, you’ll want nothing to distract you from joining us and ~400 of your peers at the Forth Worth Convention Center for the biggest oilfield water business gathering of the year!
The 3rd Annual Oilfield Water Markets Conference is still nearly 4 months away, but exhibit hall space is going fast and early speaker confirmations include water leaders from Pioneer Natural Resources, Surge Energy America, Diamondback, Marathon, Apache, Chevron, and Aris Midstream’s CEO!
Check out the names of the early sponsors and speakers here: https://oilfieldwater.com/owmarkets3/
Here is this week’s industry news & analysis…
News Digest
New BP US Investing Report Signals Big Increase In 2023 E&P Capex In Texas
BP is increasing investment in their onshore US oil and gas business, mostly in Texas, from $1.7 billion in 2022 to $2.4 billion in 2023 per a new report they issued on 1/4/2023...
Unconventional Plays: Water Management’s Evolution and Forecast
Before 2012, water management for unconventional oil and gas plays was in its infancy and was trying to keep up with operations. Today, many of the initial challenges have been resolved but new challenges persist. What does the future hold for water in the US onshore unconventional plays?
B3 Insight Offers Their Take On Recent Water Consortium Report
The Texas Produced Water Consortium’s released its report on the beneficial reuse of produced water. While its conclusions are a positive step forward, the report falls short of meeting the consortium’s four intended directives, highlighting the complexity of developing effective treatment technology for produced water.
Water Transfer Company For Sale....
Acquisition opportunity in the water transfer and technology space.
Methane intensity drops in Permian Basin despite increased production
Methane intensity in the Permian Basin has decreased by more than 76% in the past 10 years, despite the increased production in the area.
Activities and Recommendations of the Texas Groundwater Protection Committee - Report to the 88th Legislature (January 2023)
42 page pdf report with new recommendations from the committee...
WATER TALENT POOL: Lagoon Hiring
Lagoon Water Midstream is looking for an experienced Saltwater Disposal Operator II to support our business in Midland, Texas. If you are interested, please apply at www.lagoonwater.com.
WATER TALENT POOL: Chevron Adding Midland Procurement Specialist
Team Lead Procurement Specialist
Revising the Definition of "Waters of the United States"
What better way to end the year than to finally get the revised definition of Waters of the United States?
In the West Texas oil patch, a boom in drilling has led to a growing number of earthquakes
U.S. Geological Survey research has shown that the vast majority of these quakes have been triggered by oil companies pumping wastewater from the drilling process into the ground. Skoumal explained how exactly it happens.
Earthquakes were in the top stories of the year in West Texas
Coming in at number 2 was the 5.4mag quake in Midland - the public is watching.
Earthquake Viz
While once relatively quiescent, Texas has now become a leader in reported earthquake activity among the lower 48 (L48) United States. Less than five years ago, Texas infrequently had more than ten seismic events of magnitude 2 or greater in a given month. Since then, the numbers have steadily risen, with 100 or more 2+ magnitude earthquakes in 21 of the last 24 months.
Another Day, Another New Mexico Quake - Here Is Commentary On SRA Implications From Rob Bruant
The USGS reported a 3.2 magnitude earthquake event in New Mexico, roughly 9 miles northeast of Jal (yellow pin on map). Per the State of New Mexico Oil Conservation Division’s Seismicity Response Protocol, this event will result in a 50% rate reduction for UIC Class II injection wells within 3 miles of the event (red circles) and a 25% rate reduction for UIC Class II injection wells between 3 and 6 miles of the event (blue circles). Following the Oil Conservation Division’s guidance of reducing rates based on previous 6-month average injection rates, this earthquake will result in approximately 5,200 bpd of injection curtailment by January 2nd.
Reconsidering fracking waste water
“We’ve just month-by-month seen extraordinary growth in the volumes we are managing,” said Matthew Gabriel, CEO of XRI Holdings, which recycles oilfield wastewater in the Permian Basin, the nation’s top oil producing region.
Oil Cos Could Turn Wastewater Into Revenue Stream
Exploration and production companies could turn wastewater into a revenue stream by leveraging direct lithium extraction (DLE).
Extracting lithium from oilfield wastewater gets a Bakken boost...
North Dakota’s Industrial Commission is investing $500,000 in a study of extracting lithium from oil field wastewater.
“Project Whirlpool"
Energy Capital Solutions is marketing a Permian Basin oilfield fluids services business...
State of Shale 2023, Marcellus: Long Live the King
As geopolitical turmoil takes center stage, E&P leaders see the Marcellus at a turning point in aiding global economies reaching energy stability and recovery.
PA DEP 2021 Annual O&G Report: Highest NatGas Production Ever
What does the 2021 report show? Permits issued went down, but the number of new wells drilled went up. Natural gas production has gone up (again)–to another new all-time record high.
Haynesville Running Nearly Double the Rigs Operating in M-U
According to S&P’s analysis, based on Enverus data, the Haynesville Shale in northern Louisiana and eastern Texas (the main competitor to the Marcellus/Utica) is showing 81 active drilling rigs. That is an astonishing number, up some 37% over the same time last year. The current active rig count in the M-U, according to S&P, is 47 (with 33 rigs operating in the Marcellus and 14 in the Utica).
5 ways natural gas will rise to the top of mind in 2023
It has been an eventful 12 months and it doesn't seem like that's going to slow down anytime soon.
Oil prices fall 4% on mounting worry about global economy
Oil fell by more than $3 a barrel on Wednesday after slumping in the previous session, weighed down by demand concerns stemming from the state of the global economy and rising COVID cases in China.
The Oil Market Crisis Sparked By Russia’s Invasion Is Nearing Its End
Russia’s invasion of Ukraine sparked a major market crisis, sending oil and gas prices to multi-decade highs and causing the Euro to crash below parity with the dollar.
New Life In The Barnett Shale, Where The Revolution Started Twenty Years Ago
Has the shale revolution ended? No way — in fact a surge of activity in the Barnett by new operators is revitalizing the play.
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