See you tomorrow?
Over 170 folks have registered to attend the 5th Annual Oilfield Water Industry Update Conference at the Houstonian tomorrow.
The attendee list, speaker list, and sponsor list are all top notch. Special thanks to the sponsors who make this possible.
If you are coming, you won’t be disappointed! If you have not registered yet, you might still be able to grab one of the few remaining seats. Online registration still open here for now…
Here is this week’s industry news & analysis…
CCR Series-A Funding Announcement
Crystal Clearwater Resources LLC (CCR), a clean-tech industrial water purification company, announces the successful completion of its Series-A funding round, garnering significant investment. The financing round was led by Elk Mountain, Ltd. THE CCR TEAM WILL BE AT OUR EVENT TOMORROW, SO LOOK FOR THEM, SAY CONGRATS, AND LEARN WHAT'S NEXT FOR THEM! CCR has demonstrated promising growth and has established a significant presence in treating challenging wastewater streams, especially in the oil & gas produced water sector.
Select Water Solutions Reports Earnings
The Water Services segment generated revenues of $251.9 million in the third quarter of 2023 as compared to $264.6 million in the second quarter of 2023 and $264.3 million in the third quarter of 2022. For the fourth quarter of 2023, the Company expects to see revenues impacted by year-end seasonality with segment revenues down mid-single-digit percentages.
Tetra Earnings Part 1: Desal Technology Update
In their earnings report Monday, Tetra had this to say about desal: "Our target to have the engineering completed for our first produced water desalination plant for beneficial re-use applications is on track for year end or early part of 2024. In parallel to the engineering design work, we are in commercial discussions with one of the largest North America shale producers for their beneficial re-use projects in multiple unconventional basins and expect to have our first project awarded shortly."
Tetra Earnings Part 2: Lithium Brine Project Update
"We completed the data gathering and sampling operations for the second test well with results yielding lithium measurements in the upper Smackover as high as 646 mg/l, 35% higher than the first test well which was on the southern end of the unit that we reported in September 2022, and bromine values of 5,890 mg/l, in line with the first test well. These results are being used to update the lithium and bromine resource report which we plan to complete and release shortly."
Exxon Plans To Leverage Pioneer's Water Recycling Success
From Exxon's earnings call last week: "We plan to accelerate Pioneer's Permian net zero ambition by 15 years and fully leverage their advances in water recycling. This deal is a win any way you look at it, good for our shareholders, good for the environment, good for the economy, and good for US energy security... Midland Basin has got far more mature infrastructure, and I would say that Pioneer has done an exceptional job in both developing and acquiring and contracting both infrastructure to exit product and for water."
EQT Gets Boost From More Produced Water Recycling
From the earnings call: "On a per unit basis, adjusted operating revenues were $2.28 per Mcfe, and our total per unit operating costs were $1.29, down from $1.37 in the second quarter, reflecting the accretion benefit from a partial quarter contribution of Tug Hill's low-cost assets and lower-than-expected LOE due to increased produced water recycling."
Matador Earning Slides Highlight PW Infra Growth
Salt Water Disposal capacity was 70kbpd in 2017 and is now 478kbpd in 2023, including 445,000 Bbl/d of designed produced water disposal capacity owned by San Mateo and ~32,500 Bbl/d of produced water disposal capacity acquired in the Advance acquisition.
OWC, RWI and CIP are on location and ready for tomorrow!
While grabbing coffee to fuel our newsletter writing, we (the Oilfield Water Connection team) just ran into Rob and Michelle from RWI Enhanced Evaporation and Breanna and Noah from CIP Permian LLC in the Houstonian restaurant! The networking is already beginning here at the 5th Annual Oilfield Water Industry Update. Come visit with us, them and 170 other produced water impact makers tomorrow at the event!
Inside Climate News Report On Wastewater Spills In Texas
An exclusive Inside Climate News analysis found companies have spilled nearly 150 million gallons of toxic, highly saline wastewater in Texas over the last decade.
Chevron CEO Talks About Produced Water Limits On Last Week's Earnings Call
The company's CEO said on the earnings call last week: "We've got some produced water limits that have come into effect in some areas.I mentioned earlier, produced water is becoming an issue. The reinjection of that, doing that in a way that minimizes the incidences of induced seismicity. So we've got some more produced water handling infrastructure spend."
NM Citizen Op-ed Defends O&G Industry: "Oil and gas industry producing innovations for water use, not wasting it"
"New Mexico has not sold out. It has promoted the common sense use of its gifted resources for economic development that provides jobs for our citizens, opportunities for educational funds, preschool classes, medical assistance, and multiple other services that would not exist without the royalties of oil and gas. And, fortunately, the water it produces may be our best gift of all."
Biden’s $8 billion quest to solve America’s groundwater crisis
With little fanfare, the administration is using infrastructure funding to revive dormant plans for pipelines and reservoirs in rural areas across the West.
Volt Lithium Announces Expanded Capabilities Beyond Rainbow Lake Enabling Oilfield Brine Processing From Across North America
The pilot for Volt’s flagship Rainbow Lake Lithium Project in Northwest Alberta were successfully conducted in the spring of 2023 at our Regina, Saskatchewan facilities. Building on this pilot, the Company has commissioned a permanent Demonstration Plant which is capable of testing oilfield brines from multiple basins across North America in real-time.
Oil prices slip back to $80/bbl as Fed maintains interest rates
Oil prices fell Wednesday after the Federal Reserve left interest rates unchanged at its November meeting, while the market closely watched the latest developments in the Israel-Hamas conflict.
Oil, produced water spill in McKenzie County
Produced water and crude oil spilled as a result of a pipeline leak in northwest North Dakota's McKenzie County on Oct. 21, the state Department of Environmental Quality reported Tuesday.
Five years later, evidence of frac'ing’s safety is stronger than ever
Five years ago, The Heartland Institute set out to correct some misperceptions about the hydraulic fracturing process (commonly known as “fracking”) that had gained traction in the opinions of a not-insignificant number of people across the country: It pollutes water! And the air! And causes cancer! And birth defects! And asthma! And earthquakes! All at once!