Happy Thanksgiving everyone! Coverage and analysis of the big Permian quake last week dominates the newsflow in this edition…
Here is this week’s industry news & analysis…
News Digest
QUAKE COVERAGE: 3RD Strongest Recorded In TX
Delaware basin 5.4M seismic event Wednesday was the third strongest earthquake ever to strike Texas, and the strongest since 1995. Nearby #SWDs will be curtailed. Disposal capacity in Permian already very tight. Water continues to be a critical focus for flow assurance and this big headline will increase sense of urgency among E&P operators and large #watermidstream firms to initiate / accelerate disposal avoidance strategies. Big opportunities lie ahead in 2023 for firms with actionable solutions.
QUAKE COVERAGE: Wall Street Journal Article
Powerful temblor is latest to hit Permian basin, where scientists link wastewater injection to more seismic activity
QUAKE COVERAGE: Bloomberg Article
The earthquake caused shaking that was noticed by those in the oil-and-gas industry. Several drillers in the Permian Basin, including ConocoPhillips, felt the earthquake’s impact, Truist Securities analysts wrote in a note to clients. West Texas public radio reporter Travis Bubenik even tweeted that his computer monitor started swaying.
QUAKE COVERAGE: Texas Tribune Article
It may take several months to a year after reducing or stopping wastewater injection for the area to stop shaking; the Railroad Commission warned in a statement Thursday that historical activity suggests the time lag could be between 12 and 18 months.
QUAKE COVERAGE: Historic San Antonio building deemed unsafe after West Texas earthquake
The Robert B. Green building in downtown San Antonio has been deemed unsafe after a 5.4 magnitude earthquake West Texas sent tremors across the state last week...
QUAKE COVERAGE: Aftershock analysis / map
58 TexNet-reported seismic events of magnitude 2 or greater within a 5.64-mile radius (100 square mile area) since last week's 5.4 magnitude event in Reeves County, Texas.
QUAKE COVERAGE: SRA Implications
Pursuant to the Operator-Led Response Plan, if there is another 4.5M+ event after December, deep injection wells within 4.5 km of the event must shut-in, and shallow injection wells within 4.5 km of the event must reduce to 50% utilization for 18 months. There are no active deep wells affected at this time, but the shallow wells here have been injecting about 45,000 bpd, so the area would lose about 22,500 bpd of actual injection capacity. The event was about 6 miles from the 4.9M event that occurred on March 26, 2020.
Greylock Energy Is Looking For Water Measurement For Flowback Tanks - See Comments
"I would like to be able to remotely trend water levels/rates on our flowback (gas buster) tanks and get away from strapping."
HDPE Pipe Webinar Coming Up Next Week...
See below for a great opportunity to learn or refresh some knowledge about HDPE Pipe, Poly Fusion, pipeline installation, and design. Click on the link and register.
Adding PFAS Class To Contaminant List, U.S. EPA Sets Stage For Stricter Regulation
The U.S. EPA has signaled that its cornerstone drinking water regulation could soon expand to better protect against one of the country’s most notorious contaminants.
Marcellus/Utica Clean Energy Update Courtesy Keystone Clearwater
Did you know that Ohio and Pennsylvania led the US in emissions reductions from 2005-2019, despite having less than 5% renewable energy?
WATER TALENT POOL: CNX Hiring Water Logistics Manager
#cnx is #hiring a Manager of Water Logistics! Know anyone who might be interested?
Diamondback Energy, Inc. Announces Northern Midland Basin Acquisition
Lario Permian, LLC is the target in exchange for 4.18 million shares of Diamondback common stock and $850 million of cash as public E&Ps continue gobbling up privates!
Of Interest In Broader Water Markets: Evaporation and System Losses in the Colorado River Basin
The Bureau of Reclamation’s first response to the failure of Colorado River Basin states to propose a plan to reduce the use of Colorado River water by 2 million acre-feet to 4 million acre-feet per year is to recognize evaporation and system losses in the Colorado River system, including the Lower Basin. Channeling the late management guru Peter Drucker, “you can’t manage what you don’t measure.”
Freezing Weather Pushes Up Heating Demand, Natural Gas Price
Despite the negative inventory numbers, futures jumped more than 7% week over week thanks to bone-chilling temperatures that drove heating load demand across much of the Lower 48.
Oil rises as OPEC+ focus on supply cuts outweighs recession concerns
Oil rallied after trading markedly lower on Tuesday after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market, outweighing global recession worries and concern about China's rising COVID-19 case numbers.
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