Here is this week’s industry news & analysis…
TETRA Technologies Water Business Growing
Our Water & Flowback Services business grew 7% sequentially and marks the seventh consecutive quarter of topline growth. For the full year, our Water and Flowback Services revenue grew 66% while income before taxes increased by $27 million and Adjusted EBITDA increased by $29 million or 191%. q
Aris Water Solutions, Inc. Announces Addition of ExxonMobil to Strategic Agreement on Beneficial Reuse of Produced Water
Together, Aris, ExxonMobil, Chevron, and ConocoPhillips seek to develop cost-effective and scalable solutions of treating produced water for non-consumptive agricultural, alternative power generation and other industrial and commercial applications.
Texas Pacific Land Corporation and bpx energy Agree to Comprehensive Water and Surface Use Agreements
Under the agreement, TPL will receive dedicated brackish and treated water sales, certain produced water commitments, and access to produced water for commercial treatment, recycling, and reuse. bpx will receive assured long-term access across a substantial portion of TPL’s vast surface acreage for the continued development of oil and gas and associated infrastructure.
B3 Insight To Host Ripple Effects Summit In May During The 3rd Oilfield Water Markets Conference
On May 16, 2023 during the premier executive conference for oilfield water management, B3 Insight will bring together produced water leaders for an immersive half-day session of data-driven conversation.
Permian Basin Water Management Council To Host Q2 Member Meeting On Site During The May 2023 Oilfield Water Markets Conference
Oilfield Water Connection continues its annual partnership with a leading E&P Operator Water Manager Group to jointly convene in Fort Worth this May during the big event, with the joint participation benefitting all attendees.
Water technology company Aquafortus raises $17m in Series A1; purifies high-salinity brines, while extracting precious resources, affordably
Aquafortus targets industries that produce significant volumes of hypersaline water: mining, oil and gas production, chemical manufacturing, and power generation. The Series A1 financing will allow the construction and deployment of a relocatable demonstration unit and commercial pilot across major US Oil and Gas basins and operators, as well as investment in core R&D.
Carbon Capture & Storage - What The Perils Of Produced Water Can Teach Us
The Permian Basin finished 2022 with a shake rather than a bang. On December 12th, Midland Texas shook from a magnitude (M) 5.2 earthquake originating approximately 10 miles north of the city. Seismic events are not uncommon in the Permian Basin, events have been increasing in magnitude and frequency in recent years. Years of water disposal, hydrocarbon extraction, and well stimulation have had an impact on the stability of the ground in the Permian, which now shakes with increasing regularity.
Diamondback to Hold Permian Production Steady, Sees ‘Tight’ Natural Gas Takeaway
Diamondback Energy Inc. has no plans to accelerate oil production growth despite signs of impending tightness in the global market, according to management.
Permian Resources Water Infra Sale To Close This Month
The company's 10k filed this week includes this nugget but still doesn't name the buyer... "On January 17, 2023, the Company entered into a definitive agreement to divest a portion of its saltwater disposal wells and associated produced water infrastructure in Reeves County, Texas for total consideration of $ 125 million. The full consideration will be received at closing with $ 60 million subject to repayment if certain thresholds tied to the Company’s future drilling activity in the service area over the next several years are not met. The Company expects to retain the full consideration based on its current development plan. The transaction is expected to close in March of 2023, subject to customary closing terms and conditions.
Oilfield IPOs Return As Frac Sand Player Launches Offering Valuing Them At $2bn
Oilfield services firm Atlas Energy Solutions Inc plans to get a valuation of around $2 billion in its initial public offering in the United States, a regulatory filing showed on Tuesday.
Surge Energy makes series of acquisitions
The company also announced that it has reached the significant milestone of conserving more than 100 million barrels of freshwater by using recycled produced water for completion operations since 2017.
A Day in the Life of a Water Disposal Dispatcher
In this article, we provide a hands-on perspective of how a water transport company uses ENGAGE to implement those best practices and achieve new levels of operational efficiency.
Letter: Marcellus Shale has revitalized PA's economy
Policies that strengthen energy infrastructure, simplify and streamline permitting processes and encourage an increase in production are needed to ensure a secure energy future for our state and nation.
M&A Drives Crestwood Equity Partners Q4 Earnings
M&A activity drove Crestwood Equity Partner’s 2022 fourth-quarter earnings, but the company said it will not be a priority in 2023.
Harvest Midstream to acquire Paradigm Midstream
Harvest Midstream has agreed to purchase Paradigm Midstream LLC, Dallas, from Ares Management, expanding its portfolio in the Eagle ford in South Texas and into North Dakota.
The systems consist of about 350 miles of trunk lines and gathering lines for oil, gas, and water.
OGWA announces EPA Clean Water NOW Initiative
Oil & Gas Workers Association (OGWA) announced the East Palestine Area Clean Water from National Oil Workers (EPA Clean Water NOW) Initiative to send pallets of water from the Permian Basin to East Palestine area.
Kinetik Produced Water Gathering Volumes Up
Midstream firm disclosed an 11% q/q increase in produced water volumes through their system with their earnings release. They did not address water M&A.
Amid Drought, Wealthy Homeowners in New Mexico are Getting a Tax Break to Water Their Lawns
A new study found lax oversight of the tax break and the use of water meant for crop irrigation, which some of the homeowners were sprinkling on their “yards.”
New funds could come to Permian Basin
The Texas Economic Stabilization or "Rainy Day" Fund is expected to reach its legal limit of $26.38 billion in 2025 and Odessa State Rep. Brooks Landgraf wants to send the overflow back where it came from.
Grant Twp Charter Banning Injection Wells Heads to PA Supreme Court
Last summer, the Pennsylvania Commonwealth Court ruled against Grant’s attempt to override state law with its own home-cooked regulations (see Grant Twp Charter Banning Injection Wells Struck Down by PA Court). However, Big Green CELDF appealed the case to its favorite group of lefty Democrats–the PA Supreme Court–which accepted the case.