This is definitely the busiest week for water midstream news in quite some time, even though some of the headlines below only impact the oilfield water space tangentially.
The industry friends we caught up with this week are scrambling to navigate around some key bottlenecks (i.e. frac sand), grow with the new year kicking in, and come to terms with the regulatory changes that the new administration is handing down.
Meanwhile, our team is working diligently behind the scenes to organize the BIGGEST live oilfield water conference of the year. This will be the one to be at folks, hands down, no question about it. If you work in oilfield water, you can’t miss the Oilfield Water Markets Conference this May in Frisco.
Our team is all-in on this event, and we are thrilled that so many great industry leaders are too (the sponsor list is already LOADED and there are still four months left to the event!) While we are full steam ahead and fully committed to facilitating a world class gathering in May, we are also still offering a Covid guarantee for peace of mind as you register.
More details on the agenda are coming very soon. We will be reaching out to many of you about topics in the days ahead. Early bird registration is now open and the conference rates are as low as they’ll ever be. With our Covid guarantee (details on the event site), you have nothing to risk and everything to gain by booking today. See you there.
Here is this week’s water news…
Biden’s Climate Change Policy Touches Water...
In addition to the moratorium on oil and gas leasing, Mr. Biden on Wednesday is expected to set a goal of protecting 30% of federal land and water by 2030, the people said. The president is also planning to re-establish a White House council of science advisers created during the Obama administration. Mr. Biden’s plans were earlier reported by Bloomberg News and others.
...And Biden Is Potentially Very Bad News For New Mexico...
Officials in the state of New Mexico professed to be taken aback last week by President Joe Biden’s day-one decision to impose a 60-day moratorium on all oil and gas-related leasing and permitting actions on federal lands.
...But Biden's Frac Attack Will Push Oil Prices Higher, Resulting In More Activity Outside U.S. Federal Lands
Initial steps taken by U.S. President Joe Biden’s administration will help support the oil market this year and next, and are already helping oil stay ahead of expectations in the $50-$55 range to start the year.
Navigating the Transition: Key Midstream Issues to Watch in the Biden Administration
Once a major midstream infrastructure project receives necessary permits, it is common for project opponents — whether local development opponents or, in some instances, national environmental non-governmental organizations (“NGOs”) — to file lawsuits asking the federal courts to vacate, or invalidate, those permits.
Oil steady near $53 as demand fears mingle with tighter supply
Oil traded near $53 a barrel in New York as concerns over the pandemic’s latest hit to demand were tempered by signs of tighter global supply.
As of last week, it's incredibly difficult to get frac sand without a contract Texas. E&P sand customers are scrambling, and multiple operators are experiencing NPT at frac jobs across Texas...
CarboNet - A Prominent Sponsor And Presenter At Our Upcoming May Conference - Is Hiring
Open positions in water midstream...
Topaz Energy Corp. Announces Strategic Water Infrastructure Acquisition in the Alberta Montney
Topaz Energy has entered into a strategic alliance with a private midstream water company and together entered into definitive agreements to each acquire a working interest in certain water infrastructure assets from an E&P producer along with a long-term fixed take-or-pay water disposal agreement whereby the Producer retains operatorship and obtains committed access to cost efficient and environmentally responsible water disposal, sourcing and storage.
Fire occurs at oil and produced water tank battery in New Town, ND area
The Associated Press reported an explosion caused the 14 tanks to go up in flames and caused an oil and brine spill.
Schlumberger reports first profitable quarter since 2019
Schlumberger on Friday reported its first profitable quarter in a year, a further sign that the industry is recovering from recent oil busts and the economic fallout from the ongoing global pandemic.
Schlumberger echoes rivals’ oil recovery predictions after results beat
Schlumberger NV on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world’s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing demand for drilling.
Baker Hughes says energy downturn to bottom out this year
Oilfield equipment and services provider Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry’s worst downturn in decades would turn a corner this year.
Hess Midstream LP Announces 2021 Water Guidance
Water gathering volumes are expected to average 60 to 70 MBbl/d for full year 2021.
Kermit overpass to ease trucks’ way
One of the Permian Basin’s most dangerous intersections will be a lot less risky in two years, when the Texas Department of Transportation inaugurates an overpass on the west side of town at State Highways 302 and 115. The $55.5-million project will also be a boon to the energy business as the passage of heavy oilfield trucks is greatly facilitated, said Midland-Odessa Transportation Alliance Vice President Dustin Fawcett of Midland. Construction will start immediately.
Oil and gas to face stricter wastewater oversight if New Mexico Senate bill passes
New Mexico’s Senate agreed to take up discussion on a bill that would increase penalties for produced water spills by the oil and gas industry, while also requiring companies disclose more about what’s in the water and banning the use of freshwater in most cases.
Liebman Group & Black Cliffs Partners Acquire Pine Island Chemical Solutions
Liebman Group and Black Cliffs Partners announce the acquisition of Pine Island Chemical Solutions, a regional chemical provider in the oil & gas industry.
Toxic substance or water supply?
Lawmakers to weigh whether wastewater from oil fields could replenish the state's aquifers
Wyoming Oil spills decline over year
In total, companies recorded spilling approximately 4,761 barrels of oil, 32,149 barrels of produced water and 951 barrels of other materials last year, according to a Star-Tribune analysis. That’s a total of about 19,475 barrels fewer than the year before.
NGL Energy Partners LP Announces $2.05 Billion Offering of Senior Secured Notes
NGL expects to use the net proceeds of the offering, together with borrowings under a new $500.0 million asset-based revolving credit facility, to (i) repay all outstanding borrowings under and terminate NGL’s existing revolving credit facility, (ii) repay all outstanding borrowings under and terminate NGL’s $250.0 million term credit agreement and (iii) to pay fees and expenses in connection therewith.
From The Other Side Of The Fence: How oil & gas states did (and did not) protect land and water in 2020
EDF tracks state trends in oil and gas regulation related to the protection of land, water and local communities, reporting notable state actions each year.
Also From Across The Fence: Protect our fresh water from waste, pollution
"My bill would require that all oil and gas operators change to clean brine and stop wasteful freshwater use that causes unnecessary draining of aquifers and the Pecos River."
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