Here is this week’s industry news & analysis…
News Digest
Recognizing ~40 Of The Best Of The Best In The Produced Water Biz
Only 2 months 'til the Oilfield Water Markets Conference and the event's ~40 sponsors so far are among the best of the best in the produced water sector. We recognize them today for all they do in the industry and for making this exciting event possible.
Big Texas Tribune Article On Produced Water: "Landowners fear injection of fracking waste threatens West Texas aquifers"
Operators pump a sea of “produced water” underground for disposal. Intensifying tremors raise fears that the deep toxic waste pits could intermingle with water used for farming and drinking.
Energy Stocks Are Getting HAMMERED Today As Crude Slips Into The $60s...
Major energy stocks took a hit as oil stooped to its lowest level in more than a year. Halliburton and Marathon each shed more than 10%. Apache and Devon dropped 9% while Diamondback slumped 8%. Ouch!
Shark Tank’s Kevin O’Leary Says Avoid Bank Stocks and Buy Midstream Instead!
He looks at Targa Resources. “With its integrated model, large gathering and processing (G&P) supply funnel, and position on the water, Targa remains one of the best positioned in midstream.”
EPA Announces Significant Air Pollution Reductions From Permian Basin Company Settlement
The U.S. Environmental Protection Agency (EPA) issued a Consent Agreement and Final Order (CAFO) to Permian Resources Operating, LLC (Permian Resources), formerly known as Centennial Resource Production, LLC, for emissions from tanks, flares, and other equipment that EPA identified using a helicopter equipped with a special infrared camera that detects hydrocarbon leaks.
DOE Invests $47 Million to Reduce Methane Emissions From Oil and Gas Sector
Funding Supports 22 Projects to Advance Technologies to Monitor, Measure, and Mitigate Methane Emissions Across the U.S. Natural Gas Supply Chain
Leading U.S. Natural Gas Firms Sound Rallying Cry For Permit Reform, Lawsuit Limits
Demand endures. Supply is abundant. Technology to produce it efficiently continues to advance.
E&Ps Explore Potential of Lithium Extraction
“It's something we are spending time with E&P companies looking at,” said Erik Belz, head of private equity at activist investor Engine No. 1. “And it is encouraging to see these companies look at their own operations and say, ‘Okay, what can we squeeze out of this?’ Lithium in flowback water is a is a creative way of looking at it.”
Lithium turns into big business
Extracting high-dollar lithium from brine and produced water is a potential new way to make big money in the oilfield that researchers and companies are busily looking into.
Lithium Extraction May Soon Turn Produced Water Into Produced Profits
American oil and gas producers may soon be poised to capitalize on this demand, as produced water from some areas contains appreciable levels of dissolved lithium.
Six earthquakes hit Southern Colorado in 24 hours
“In this region,” says Barnhart, “There is what we’ve identified as ‘induced seismicity’ -- so effectively, human caused earthquakes.” Barnhart says wastewater injection or fracking sites from oil and gas operations can cause earthquakes. That’s when the liquid waste gets injected back into the ground.
Natural gas production likely cause of southern Colorado earthquakes, experts say
Raton Basin’s surge in seismic activity since 2001 follows drilling of wastewater injection wells.
Greyson Mill Operating reports produced water spill near Williston
The first reports from Greyson showed that there were 5,500 barrels, or 231,000 gallons, of produced water released and that it flowed approximately 100 feet over range land and into Stockyard Creek.
KLX Energy Services Completes Acquisition of Greene's Energy Group
Greene's wellhead protection, flowback and well testing services augment KLX's frac rental and flowback product lines
Energy industry shifts focus to water recycling
“By taking industry water and recycling that for direct reuse into the industry, every barrel we reuse is one less barrel that we need to remove from freshwater sources. As for seismicity, for every barrel that we’re not putting downhole, it lessens the risk to some degree of seismic activity.”
Ensign Energy Says Oilfield Outlook Positive as Demand Rises
Revived drilling contracts in 2022 plumped up the coffers of Ensign Energy Services Inc., a fixture of oilfield operations in Canada and the United States.
Risk assessment framework developing for beneficial reuse
“We are at the stage where a risk assessment framework has been developed and we’re looking at two to four years for implementation,” said Azivy Aziz, Environmental associate, ExxonMobil Biomedical Sciences.
Here's what a top analyst sees for the Marcellus in the near-term
The domestic natural gas market will continue to see challenges in price as a warmer-than-expected winter and a surplus of gas will continue for the foreseeable future, according to a major energy analysis firm.
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