Tons of must-read (and we don’t use that term lightly) general industry news in the digest.
But first, we want to recognize Select Energy Services and Pilot Water Solutions as the latest sponsors of the fast approaching 2nd Annual Oilfield Water Market Conference (lanyard and coffee sponsorships, respectively). With broad industry support, the event is coming together tremendously.
It is also less than 60 days away (March 10-11 in Dallas) and will convene at a critical time for the sector – never has more attention been paid to this critically important oilfield niche as our news digest below shows!
Check out the newest event speakers / sponsors to be added and get registered to attend / exhibit here – this in-person only event is on pace to draw a sold-out crowd…
Now here is this week’s industry news…
News Digest
With WTI Approaching $90/bbl, Tight Physical Crude Market Points To Higher Oil Prices
With both the physical and futures markets rallying, and increased geopolitical premium, market observers are looking towards the $100 mark for oil prices.
WSJ: Texas Earthquakes Prompt New Fracking Rules
Frackers need to find a new home for wastewater as the state acts to stem rising seismic activity, adding to drillers’ costs.
New Permian Plot Twists Confirm That Water Supply Chain Is A Top Shale Issue In 2022
The new Stanton SRA impacts 35 active wells (14 of which are deep well injectors) with a combined impacted permitted maximum capacity of 933,000bbls. Some notable E&P operators on the list of impacted well owners include Crownquest, Pioneer, and XTO.
Permian Basin was hit by a record number of earthquakes last year. What does that mean for oil and gas?
Oil companies operating in West Texas — a thousand miles from the nation’s most active fault lines — are becoming more concerned about earthquakes, which reached a record number last year and are growing ever stronger.
March 10-11, 2022 Conference Sponsor Spotlight: Enhanced Energetics [WiFi & Silver]
Enhanced Energetics offers propellant stimulation tools that significantly improve well performance by creating a stronger connection to your reservoir. Kraken and GasGun enhanced perforating tools have been credited with producing some of the most prolific SWDs in the industry. Their patented, progressively-burning propellant technology allows you to achieve higher injection rates at lower pressures than with conventional acid jobs alone.
WHAT LIES BENEATH: CBS7 Airs Special Report On West Texas Water Quality
West Texas has seen a massive increase in earthquakes due to underground water injection. But that’s just the surface of the problem. The real issue is water and the increasing number of blowouts coming from old, abandoned wells....
Crane County Geyser Is Sucking Up ALL The Vac Trucks
Infill Thinking talked folks on the ground near the Crane geyser situation this week and picked up some interesting facts with immediate market implications in water and logistics...
A Forgotten Oil Well Births a 100-Foot Geyser in West Texas
The salty water spewing high on a Crane County ranch could be a sign of a “whack-a-mole” future in the Permian Basin.
Deep Dive Video Well Worth A Watch On Solugen's Chemistry Innovation
Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock without creating waste... some of the products are designed for water treatment use cases...
There’s plenty at stake for oil prices this week
Tight supply, fears of war and expectations that the fading risk from the omicron variant of the coronavirus will boost energy demand could combine to send oil prices even higher.
APA Corporation Named to Newsweek’s 2022 List of America’s Most Responsible Companies
APA ranks third among upstream energy peers, an increase from sixth in 2021. The final list recognizes the top 500 most responsible companies in the United States, spanning 14 industries. Congrats to our friends Brian Bohm and Tyler Hussey for their role in this honor, as we have no doubt that responsible water management played a role here...
Layne Water Midstream Business Update
Layne now has 200 miles of water pipelines, 12 produced water handling facilities and 100,000 dedicated acres under long term produced water services agreements. Over the course of 2021, their produced water volumes approached nearly 300,000 barrels per day, and they completed their first water treatment and recycling projects, as well.
O&G HIT PIECE: New Data Shows Massive Climate-Warming Leaks by New Mexico Oil and Gas Operators
Anti-energy publication attacks large natural gas producers in New Mexico.
Sabata Energy Consultants Posts A Free Earthquake Dashboard Online
This early version includes: (1) seismic events identified by TexNet, (2) injection/disposal well locations from the Railroad Commission of Texas, and (3) the RRC's Seismic Response Areas.
Water scarcity is about to get a lot worse. Irrigated agriculture doesn’t have a plan.
Irrigation organizations play a crucial behind-the-scenes role in delivering water to farmers. But only one out of every five has an official strategy for responding to drought.
WATER TALENT POOL: Crestwood Announces Executive Promotions and Organizational Changes
Robert Halpin has been promoted to President and Chief Financial Officer and Diaco Aviki has been promoted to Executive Vice President and Chief Operating Officer.
TX RRC Upgrades Stanton SIR to SRA
RC staff has established the Stanton Seismic Response Area (SRA) to coordinate action with industry to reduce the seismic hazard in the SRA. Download the impacted wells, maps, etc. here...
New Stanton SRA Analysis Infographic From B3 Insight
"The Railroad Commission (RRC) officially moved the Stanton, TX location to a Seismic Response Area (SRA) on Friday, as seismic activity in the Permian Basin continues to increase in frequency and magnitude. Letters were issued to 29 operators, identifying 72 well permits affected in the new SRA. B3's proprietary modeled data provides up-to-date data (public data can be up to a year old) and shows that saltwater disposal in the Stanton SRA is permitted for 9,880,000 bpd but averages a 23% utilization rate." - B3 Insight
Why Ryan Sitton, Former TX RRC Commissioner Is Filing A Defamation Suit
The suit, filed by Ryan Sitton in late December in Galveston County, seeks at least $10 million in damages from Joshua Matthew Pierce, who allegedly published the claims under an alias, Matthew Briscoe, on a website called the South Texas Journal.
API president warns against foreign energy dependence
The president of the oil and gas industry's largest lobbying organization warned the Biden administration Wednesday that reducing U.S. production in a bid to reduce greenhouse gas emissions puts the nation at risk of depending on "suppliers that have agendas of their own."
Delaware vs. Midland – Here’s The Set Up Coming Into 2022
Although Delaware and Midland D&C activity moved similarly over the past couple of years, two departures are notable...
Lucid Energy Group Receives Big Approval From EPA On Largest Permian Carbon Capture Project
EPA has approved the company’s previously submitted monitoring, reporting and verification plan to sequester CO2 from its Red Hills gas processing complex in Lea County, New Mexico....
Quick Thoughts From Laura Capper On Permian Seismicity
Quick update on seismicity in the Permian and the potential for a new SRA in the region...
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