In case you missed it, last week we announced that Chris Wright, Chairman/CEO of Liberty Energy will keynote the Oilfield Water Markets Conference on May 17 at the Fort Worth Convention Center! Hearing his views live and in person on the important role that oilfield water professionals play in the future of energy will be a great way to kick off the event.
Early bird rates are only available for one more week (through the end of February) – so now is the best time to register to mix with hundreds of your peers there. Details and registration are here, and keep an eye out for more exciting conference announcements over the next couple weeks – this is going to be the most impactful event in the sector yet!
Here is this week’s industry news & analysis…
News Digest
Select Energy Services, Inc. Announces Rebranding To Focus On Water
Select Energy Services, Inc. intends to become Select Water Solutions, Inc., further aligning the brand with the Company's vision to be the recognized leader and trusted partner in sustainable water management solutions.
Select Energy Services Makes Additional Water Acquisitions In Permian
During December 2022 and January 2023, Select completed a series of transactions in the Midland Basin area of the Permian Basin for $44 million. Targets included two JV interests in Howard County PW recycling facilities related to Breakwater minority partner interests. Select also gobbled up 35 miles of gathering and distribution pipelines, 3.5 million barrels of water storage, approximately 120 brackish source water wells and 25,000 barrels per day of permitted disposal capacity. Select also initiated pipeline construction to connect the acquired assets.
Chris Wright of Liberty Energy will Keynote the 3rd Annual Oilfield Water Markets Conference On May 17th In Fort Worth
Mr. Wright’s public figure stature is rising as an energy expert and and advocate for the many social benefits provided by the U.S. oilfield. He recently attracted national attention when he defended a competitor from a clothier’s virtue signaling campaign. More recently, he’s battled social media over censorship. If you manage water in the Lower 48, the chances are high that some of the water in your purview originated from wells frac’ed by one of Liberty’s 40+ active frac crews (they are a top 3 U.S. frac company by fleet size). There’s also a good chance that some of the water you recycle into frac jobs has been pumped by their crews.
NM House endorses $1 billion budget plan to raise public salaries, expand free college education
The state enjoys huge taxes from the oil & gas industry. So they assemble a wish list of spending, including increased annual spending of $291 million for agencies that oversee oilfield, water and environmental regulations.
Marathon Seeing Lower Water Cuts On Delaware Acreage
On their earnings call last week, Marathon management shared some learnings as they delineate their Delaware Basin acreage. Specifically, we found this quote interesting: "It's still early; we're still watching the wells. We need some time to look at longer-term performance, but early indications are good. They're exhibiting high oil cuts, they're showing low water on ratios and then on a low decline, some positive outcome there."
Spark Ionx and Avivid Water Technology Enter into MOU for Oil and Gas Produced Water Treatment System
Companies pursue a technical collaboration for the development of a water treatment system that utilizes electrocoagulation and electrodialysis desalination.
Equitrans Midstream Announces Water Management Milestones
Initiated a mixed-use water system build out and commenced operations of first above ground water storage facility
CNX Highlights Above Ground Water Storage In PA
On their earnings call, CNX said: "The second sort of component of our capital investment plan for 2023, we continue to invest in our fully integrated midstream and water infrastructure... I'll give you a great example of that this year. It's a significant one as well, I think, and that's the construction of a centralized above-ground water storage tank facility in our Southwest Pennsylvania field, did not only provide life-of-field, low-cost, low-risk water supply, but they will also start the phase-out of in-ground impoundments without adding trucks to the road. And that's a really good outcome from our perspective."
Devon Focusing Capex on Permian Delaware, Says Natural Gas Takeaway Sufficient
Devon has set a 2023 capital expenditures (capex) budget of $3.6-3.8 billion. The midpoint of the budget would be a 46% increase from 2022’s capex spending of $2.54 billion but M&A makes y/y comps difficult to get on an apples-to-apples basis.
Reuse of Produced Water from the Petroleum Industry: Case Studies from the Intermountain-West Region, USA
Technical paper on produced water re-use in the western US.
Antero Midstream Earmarks $75mm For Water Infrastructure In 2023
Antero Midstream has budgeted an investment of $75 million for fresh water delivery and wastewater blending and pipeline infrastructure in 2023. They will be servicing 75 to 80 wells with Antero Midstream's fresh water delivery systems
Appalachian Shale Gas, Oil Production Expected to Increase
Oil and natural gas produced from the Utica/Point Pleasant and Marcellus shale formations in eastern Ohio, Pennsylvania, and West Virginia are projected to increase next month.
SRBC Approves 233M Gal/Day of Water Use for 38 PA Shale Pads
SRBC published a notice in the Pennsylvania Bulletin to announce that during the month of January, the agency approved 38 requests for daily water use on shale well pads in the SRBC’s jurisdictional territory in Pennsylvania, totaling some 233.5 million gallons. Put another way, this is a handy list of where drilling will soon happen in northeastern PA.
WV Leads 24-State Coalition Against EPA Waters of US Reg 2nd Time
The EPA announced a new rule in January aimed at re-regulating all waters, putting power over just about everything (including oil and gas drilling) into the federal government’s hands via WOTUS. West Virginia Attorney General Patrick Morrisey is co-leading 24 states (including fellow M-U state Ohio) in suing to block the new regulation.
Matador Resources Company Names New Chief Financial Officer
Matador Resources announced the promotion of Brian J. Willey to Chief Financial Officer, President of Midstream Operations and Executive Vice President, effective as of February 16, 2023. Mr. Willey will continue to serve as the President of San Mateo Midstream.
Murphy Shares Water Recycling Record
Management said: "We also recorded our highest water recycling ratio in company history with 3 million barrels of water recycled, representing 28% of our total onshore water use, which is up from 18% in 2021."
U.S. Congress members from across the country gather in Midland to talk energy
The Committee on Energy and Commerce held a hearing in Midland where local leaders provided testimony about the importance of oil and gas on the economy.
NGL Energy Partners LP Announces $600 Million Permanent ABL Commitment
“This amendment provides NGL additional financial flexibility to support the significant growth in our Water Solutions segment and a higher commodity price environment," stated Brad Cooper, NGL’s CFO.
Booming oil exports boost US role as global price maker
Trades of key Texas-crude contracts hit record high.
O&G Investment Must Increase 28% by 2030 to Avoid World Shortage
According to a new report published by the International Energy Forum (IEF) and S&P Global Commodity Insights, annual upstream oil and gas investment needs to rise by 28% to reach $640 billion by 2030 to ensure adequate global supplies.
Explosion Engulfs Bakken SWD Worker In Flames
The family of a man "engulfed with flames" during a weekend explosion at a saltwater disposal site in northwest North Dakota says he is lucky to be alive.
Subscribe
Looking to stay connected in the rapidly evolving oilfield water management business? Look no further than the Oilfield Water Connection’s Weekly News Digest.
Subscribe to get our carefully curated summary of relevant water news and analysis delivered to your inbox each Wednesday morning
Share Your News
Send us your press releases and any other news articles which you believe would be of interest to our readers. Email submissions to hello@oilfieldwater.com
Advertising
Do you provide oilfield water technology, or service? Advertise in the Oilfield Water Weekly.
LEARN MORE