Sponsorship and general attendance registration are open on the event website for the 2nd Annual Oilfield Water Markets Conference. The first draft agenda will be posted shortly after Thanksgiving. We are opening conversations with various industry leaders on subject matter now, so if a topic is burning in your mind that must be discussed on stage, let us know. We look forward to seeing many Water Weekly Digest readers there!
And now this week’s news…
News Digest
New Datapoints That Advance The U.S. Oilfield Water Narrative
One thing Infill Thinking found interesting was that NOBODY talked about the recent TX RRC crackdown on both sides of the Permian. This is a HUGE issue inside the industry, but an example of how sometimes big risks don’t surface in conference call discourse even when they dominate the conversations behind the scenes (and at our conferences we might add!)...
Boom! NGL Reports Record Higher Water Solutions EBITDA; Bullish Water Outlook For Delaware Basin
"Our Water Solutions segment achieved strong growth due to increased customer activities in the Delaware basin. Produced water volumes have grown meaningfully year-over-year and sequentially quarter-over-quarter. We expect water volumes to continue to grow for the foreseeable future. Operational free cash flow, reduction in working capital requirements and asset sale proceeds will be deployed to the balance sheet to reduce leverage," stated Mike Krimbill, NGL’s CEO.
Reeves County District Court Rules in Favor of Oil & Gas Operator in Produced Water Dispute
Careful attention should be given to the language in each negotiated agreement when determining ownership rights, including with respect to produced water.
Smart Water Management Lowers Risk
Opportunities, Liabilities, and Finding Transparency in the Water Management Space
THE Overlap Between Carbon Capture, Utilization, And Storage AND Produced Water Management
An interesting and tangible solution gaining attention is carbon capture, utilization, and storage (CCUS). Surprisingly, the CCUS industry has a lot in common with the produced water management industry.
Rattler Midstream CEO Travis Stice on Q3 2021 Results [Earnings Call Transcript]
"We’re spending a lot of money on recycling, particularly in the Midland Basin. We kicked off our recycling program in the Delaware, where you have so much water production that you’re able to pull 100% of the water you need for a frac from recycled sources."
Texas Pacific Land Corporation (TPL) Q3 2021 Earnings Call Transcript
"This was our second best quarter for revenues in our water business and what a difference a year makes. Compared to the same quarter last year, our total consolidated revenues were up 66%, royalty daily production is up 24%, total water revenues were up 51%, and total consolidated free cash flow is up 60%."
Aris Water Solutions, Inc. Reports Third Quarter 2021 Financial and Operating Results
Record total water volumes and recycled water volumes of 961,000 barrels of water per day and 130,000 barrels of water per day respectively.
WATER TALENT POOL: Pilot Water Solutions Adds SVP Biz Dev
Tim Saxman has taken the position of Senior Vice President of Business Development at Pilot Water Solutions....
A holistic Approach To Water Management
"Similar to what almost every industry has experienced over the past few years, water management has undergone a considerable change," writes Steve Coffee
Next Week: Edwards Aquifer Protection Program Public Hearing
The 2021 hearing will be conducted as a SINGLE virtual hearing. The hearing will begin at 9:00 a.m. on Thursday, November 18, 2021, with an open question period at 8:30 a.m. via GoToWebinar.
Continental Resources to buy Texas land from Pioneer for $3.25 bln
The deal conveys water assets too...
Oil has staying power for years to come. Why does it matter and where does it come from?
Even as more countries and companies pledge to get to net-zero carbon emissions, the world will continue to require fossil fuels for years to come, analysts say, because oil and natural gas are so intertwined with modern life.
U.S. should have enough gas to avert an energy crisis like Europe's
Americans should have enough natural gas to keep homes warm and factories running, avoiding the kind of shortages that are crippling Europe and Asia, even if the coming winter gets particularly cold.
“Permianflation” & Fleet Tracking
The general theme of onesey-twosey crew additions and 10-15% well cost inflation expectations in 2022 are common threads this earnings season.
It’s cheaper to dump produced water than to re-inject – Exxon tells EPA
ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has told the Environmental Protection Agency (EPA) that it intends to dump produced water from the Yellowtail Project into the ocean. It said this is the preferred choice since reinjection is an “economically inferior” option.
New E&P Spend Datapoints Add Up To A Marginal + For OFS
In general, we see a trend of operators making small adjustments to keep spending in this commodity upcycle while still managing to check the box on capital discipline – at the margin these tweaks add up to a “small win” for oilfield service players considering:
E&P Capex Guidance Provided Over Past Two Weeks Bodes Well For Frac Activity
Infill Thinking processed capex spending updates from about 25 public shale E&Ps into their oilfield spending models.
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