Oilfield Water Weekly

Today, Oilfield Water Connection is pleased to welcome back a highly respected Marcellus/Utica shale professional group of E&P operators as a supporting organization of the 3rd Annual Marcellus Shale Water Business Update Conference coming up in Pittsburgh on August 8. Read about it here

And now, here is this week’s industry news & analysis…


News Digest

E&P M&A Train Rolls On! Matador Takes Over Ameredev In $1.9bn deal

Matador Resources Company today announced a definitive agreement to acquire a subsidiary of Ameredev II Parent, LLC (“Ameredev”), including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Loving and Winkler Counties, Texas (the “Ameredev Acquisition”). The Ameredev Acquisition also includes an approximate 19% stake in Piñon Midstream, LLC (“Piñon”), which has midstream assets in southern Lea County, New Mexico. The consideration for the Ameredev Acquisition will consist of a cash payment of $1.905 billion. Ameredev is a portfolio company of EnCap Investments L.P.

Marcellus Logistics Group Returns For The 3rd Annual Marcellus Shale Water Conference August 8, 2024 In Pittsburgh

The Marcellus Logistics Group’s involvement for a second straight year strengthens learning and networking opportunities for all attendees of the fast approaching conference. They will host their next member meeting on site the day before the broader conference (Aug. 7) at the same venue, the Pittsburgh Westin. Many of their members will be speaking at the bigger conference the next day, which is open to everyone in the industry who registers to attend.

From Inside Climate News: Water Bursting From Another Abandoned West Texas Oil Well, Continuing A Troubling Trend

“There’s been such an increase in disposal of produced water over the past decade, there’s an overwhelming amount of water being disposed,” said Dominic DiGiulio, an environmental consultant and geoscientist who has worked for 30 years at the Environmental Protection Agency. “That pressure has to go somewhere. So if there’s a well penetration then it’s going to move freely up that well penetration.”

From Local Permian News: A Report On The Cost Of Aging Oilfields

A report estimates a cost of $37.9 billion to P&A TX oil wells; however, E&Ps have only allocated $565 million in bonds to the Railroad Commission. In this video report, WTX rancher Schuyler Wight is featured discussing the problem.

Mountain Valley Pipeline, in development for a decade, finally gets federal go-ahead

“We find that Mountain Valley has adequately stabilized the areas disturbed by construction and that restoration and stabilization of the construction work area is proceeding satisfactorily,” wrote Terry Turpin, director of energy projects in a memo for the Federal Energy Regulatory Commission.

Jay Keener's Announces New DLE Venture...

Jay Keener announces the co-founding of Altillion, Inc. to deliver lithium extraction and concentration technology.

Altillion, Inc.—A Paradigm Shift in the Extraction & Concentration of Lithium from Brine

Altillion, Inc. introduces its ALIX technology for the extraction and concentration of lithium.

How will Democrats react to lithium found in fracking?

According to Rep. Guy Reschenthaler, a Republican from Pennsylvania., “Nearly 40 percent of our nation’s domestic need for lithium can be found right here as a byproduct of fracking. I fully expect every single Democrat to join Republicans in supporting domestic natural gas development.”

Editorial: Fracking produces a resource needed to wean us off fossil fuels. Pa. should embrace it.

It’s a remarkable coincidence: In the waste produced by extracting fossil fuels, there is a huge supply of a key resource in weaning the world economy off of fossil fuels.

Scientists develop eco-friendly method to extract lithium from seawater and groundwater

Researchers at the University of Chicago’s Pritzker School of Molecular Engineering (PME) have now optimized a new method for extracting lithium from more dilute sources, such as seawater, groundwater, and “flowback water” from fracking and offshore oil drilling.

WATER TALENT POOL: BP Adds Rob Bruant

Rob Bruant recently joined BP as CCUS Reservoir Engineer. Previously he was at B3 Insight for 6 years as Director of Product and Research. Congrats Rob!

WATER TALENT POOL: EQT hiring Water Completions Coordinator

See the opening here...

State water commissioner faces ethics complaint over oil, gas ties

An ongoing process to establish rulemaking for water reuse in New Mexico has seen a twist following an ethics complaint lodged against one commissioner responsible for approving the final rule.

New Mexico lawmakers frustrated as they debate oil and gas setbacks

New Mexico is the nation’s second-largest oil producer, but some are concerned about the environmental and health impacts from drilling near urban areas. So, lawmakers are considering requiring separation or “setbacks” between drilling operations and protected areas.

Fight over constitutional provisions to guard against oil, gas pollution moves ahead in New Mexico

A New Mexico judge cleared the way Monday for a landmark lawsuit to proceed that alleges the state has failed to meet its constitutional obligations for protecting against oil and gas pollution.

The EPA is cracking down on PFAS — but not in fertilizer

Farmers spread treated human waste on their crops. It's full of forever chemicals.

JGL Solutions

EIA Expands Production Forecasts To Include L48 Basins

Beginning with this month’s Short-Term Energy Outlook (STEO), EIA is breaking out oil and gas production forecasts to cover key shale/tight oil basins like Appalachia, Bakken, Eagle Ford, Haynesville, Permian and the rest of the U.S. L48. Previously, crude oil and natural gas production forecasts were limited to total L48, Alaska, and Federal Gulf of Mexico.

Permian oil production may surge 8% this year, EIA says

Oil production from the most prolific U.S. basin could climb about 8 percent in 2024 and help domestic crude hit record outputs this year and next year, the U.S. Energy Information Administration said Tuesday.

BPX targeting 60% growth in Permian production

Multinational giants Chevron and ExxonMobil have detailed that their expectations for Permian Basin production will be increasingly significant important to their operations. BP is now detailing similar plans for its BPX Energy subsidiary.

OPEC Keeps Robust Oil-Demand Outlook After Output Policy Move

The Vienna-based cartel said it forecasts oil demand to grow by 2.2 million barrels a day in 2024 and by 1.8 million barrels a day in 2025

Oil prices recover from sell-off as OPEC sticks to demand and steady economic growth forecasts

Crude oil rallied more than 2% on Monday and has now recovered the losses from last week. Futures sold off last week in the wake of the OPEC+ decision to increase production later this year.

Non-Opec supply growth and falling demand will exacerbate surplus oil glut, predicts IEA

Group forecasts as much as 8 million bpd of excess capacity by 2030

White Paper: "Success in the Permian Depends on Smart Water Strategies"

Check out Matthias Bloennigen's (Managing Director, Pickering Energy Partners) latest white paper, "Success in the Permian Depends on Smart Water Strategies" in collaboration with B3 Insight. As oil and gas production thrives in the Permian Basin, strategic water management is crucial.

Water Investor’s Monthly June 2024

Water Investor’s Monthly, by Industria Partners, is a review of trends and transactions in water across the U.S., including water rights, storage, transportation infrastructure, and wastewater treatment, services, and equipment.

Power loss, tank overflow cause spill of over 40,000 gallons of produced water In Bakken

Liberty Midstream Solutions LLC reported 40,950 gallons of produced water to release. All of the produced water has been recovered.
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Produced water release reported near Watford City

Henry Hill Oil Services, LLS reported a release to the North Dakota Oil and Gas Division on June 9.

Kinetik Completes Divestiture of Its Equity Interest in Gulf Coast Express Pipeline

Kinetik completed of its previously announced sale and direct transfer of its 16% equity interest in the Gulf Coast Express pipeline to an affiliate of ArcLight Capital Partners LLC for $510 million in upfront cash and an additional $30 million deferred cash payment due upon a final investment decision on a capacity expansion project.

$38.9 Billion In Proposed Texas Gas Plants Overwhelm Expectations

The Public Utility Commission of Texas (PUC) said last week that power developers in the state submitted 125 formal applications under the Texas Energy Fund (TEF) for the development of almost 56 gigawatts of new natural gas power generation in the coming years. Deadline for applications was Friday, June 7, for companies, co-ops and municipalities to apply for low interest financing and grants available under the fund.

Rare lizard's endangered listing could slow oil and gas drilling in Permian Basin

Federal wildlife officials declared a rare lizard in southeastern New Mexico and West Texas an endangered species on May 17, citing future energy development, sand mining and climate change as the biggest threats to its survival in one of the world's most lucrative oil and natural gas basins.

Noncompliant oil producer blamed for letting crude into water system

The company suspected of mistakenly allowing crude oil to backflow into Bakersfield's municipal water system this week, leading to business closures and prompting an advisory to avoid tap water south of Lake Truxtun, is a local oil producer with a history of regulatory problems.

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