Oilfield Water Weekly

Wednesday July 14, 2021

After the July Fourth holiday break, industry newsmakers are getting back in gear.

Earnings season is around the corner.

And some noteworthy deals are getting done in water midstream – congrats to the Blackbuck team on their new sustainability-linked debt facility.

Plenty of interesting stories to digest in today’s edition…

And now the news…


News Digest

Blackbuck Resources Announces Innovative Sustainability-Linked Financing

Blackbuck closed on a sustainability-linked term loan with Riverstone for an initial commitment of $50 million plus an accordion feature, which gives Blackbuck additional liquidity for growth. The facility’s pricing will be adjusted based upon Blackbuck’s adherence to certain sustainability performance targets...

MRT Coverage: Blackbuck signs sustainability-linked loan

Water and the environment are inextricably linked, something water management companies are embracing in increasing numbers.

Orion Energy Partners Expands Leadership Team to Support Investments in Environmentally Innovative Infrastructure Markets

Recent Strategic Hiring and Promotions Align with the Firm’s Commitment to Providing Capital Solutions for Innovative and Sustainable Infrastructure Businesses in North American Middle Markets

Notes From The Road – 13 Permian Field Trip Datapoints + A Fridge Status Update!

In the Midland Basin, where water is fairly cheap (we heard 15-25 cents a barrel down from 75 cents to $1 a barrel not long ago), reuse is rising anyway, likely driven by ESG and the fact that it just makes sense to turn waste streams into value streams. We saw...

TanMar Making Progress On Their First One-Million Barrel Frac Water Pit in the Permian

Showing progress of our first of many - one million barrel frac water pits in the Permian Basin

MRT: Midstream sector finds itself in flux

Like exploration and production companies in recent years, the midstream sector finds itself in flux as energy companies across all sectors adapt to changing markets and the challenges of a post-pandemic world.

Where does your company rank when it comes to managing your produced water?

Efficient water management in our oil and gas industry can be a complex business but the best corporations and portfolio managers will use sector-focused data and market assessments to align their capital allocations with both investor requirements and ESG goals.

Private E&Ps ‘Bringing It’ As Publics Stay Disciplined [Charts & First Hand Observations]

On the road in the Permian last week, conversations with industry contacts confirmed a key trend that has been repeatedly quantified by our research affiliate Lium this year. Specifically, Private E&Ps are going after tight oil development with guns blazing while publics are sitting on their hands...

Quick Summary of the Water-Related Challenges in the Permian

In 2018 disposed volumes reached 11.5 billion barrels and in 2019 about 12.4 billion barrels, before retreating to 11.3 billion barrels in 2020....

Oil and gas service companies in need of employees

Lozoya Companies president Fily Lozoya says nearly 80-90% of service companies in the Permian Basin are struggling to beef up their workforce.

WATER TALENT POOL: HOSS Pump Systems Adds New BD Manager From Summit ESP

Patrick Goodsell joined HOSS pumps as BD manager...

WATER TALENT POOL: Need A Water Hauler?

A LinkedIn'er writes: "I have a friend in need of some work for his water trucks. If he doesn’t get work soon he’s gonna end up losing the company he work hard for! If anyone has any leads I would greatly appreciate it! Very safe company, reliable, & all trucks are equipment with gps, & dual cameras!

Chevron’s D&C Trends In Focus [Operator Spotlight]

Over the past two years, Chevron has cut back their rig and frac fleet in a major way – each has been reduced by...

Texas Tech heads collaboration to study impact, technology necessary for recycling of produced water

As one of the leading agricultural research institutions in the U.S., Texas Tech will serve as the administrator for the newly created Texas Produced Water Consortium, a collaborative effort to explore options, alternatives and potential economic impacts for the billions of gallons of produced water in Texas each year.

Oil prices loom over Biden bid to throttle drilling rights sales

The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights that falls short of the outright ban sought by some environmentalists, as rising oil and gasoline prices highlight the risks of curtailing domestic crude production.

Reservoirs are drying up as consequences of the Western drought worsen

Reservoir levels are dropping throughout the West, as the drought tightens its grip on the region and intense summer heat further stresses both water supply and the surrounding landscape. Many reservoirs are at or approaching historic low levels due to lackluster rainy seasons combined with increasing temperatures due to climate change.

SWD Platform Inventory Update

BuySWD has 350 saltwater disposal facilities and permits for sale across every major basin.

Hottest Permian Counties For Drilling So Far In 2021

Inspired by their trip to the Permian Basin last week, the Infill Thinking team dug into the region’s county-by-county rig count trends for this week’s drilling update.

New Mexico gets $1.2 billion in oil revenue as State enforcement ramps up

Oil production on New Mexico state land led to a record $1.25 billion in revenue in the last fiscal year.

Oil industry consolidation hits two-year high

Oil exploration and production companies inked more than 40 deals worth $33 billion during the second quarter, the largest three-month dollar figure since the second quarter of 2019.

PW Spill at Cuyama oil site so far contained

The Santa Barbara County Fire Department reported at around 8 p.m. today a spill of produced water, which refers to the water that comes out of a well with crude oil during production, on the 1800 block of Perkins Road in Cuyama.

Bottomhole Pressure Test Is An Underappreciated Condition For Operating SWDs

Wells in specific areas of increased scrutiny often require special conditions to operate. Seismic activity immediately comes to mind but our analysis of permit conditions since 2020 highlights bhp (bottomhole pressure test) as a frequent special condition, requiring operators to report pressure at the bottom of the well before injection. Do you know what's required in your area of operations or where you plan to build next?

Interesting Video on California Oil Production

In Summary: Why California oil gas is better for the environment, ignore the political rhetoric and new deal marketing schemes....

California exercises discretion to deny Kern fracking permits ahead of formal ban

California's top oil regulator, acting ahead of a proposed statewide ban on fracking, this week denied a series of applications to use the controversial oilfield technique in western Kern.

Source Energy Services Announces Contracts with Two Key E&P Companies Operating in the Montney

Source Energy Services announced that it has entered into a new contract with Pipestone Energy and has extended and expanded its relationship with a major Montney Producer. These contracts include proppant supply, as well as logistics and well site services.

How Will USA Oil Production Evolve to 2023?

U.S. monthly output in 2022-2023 is not expected to match the record 12.9 MMbpd achieved in 2019, as WTI prices are not forecast to remain at the current high levels, Rystad Energy noted. The company added, however, that there is some upside potential if volatility continues.

Oil prices drop after Saudi-UAE reach output compromise

Oil prices dropped on Wednesday after Reuters reported that Saudi Arabia and the United Arab Emirates had reached a compromise over a global supply deal that will allow the UAE to boost its output...

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