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Here is this week’s industry news & analysis…
News Digest
Permian Basin Water Management Council At The May 2024 Oilfield Water Markets Conference
Oilfield Water Connection continues its annual partnership with a leading E&P Operator Water Manager Group to jointly convene in Irving, TX on May 7-9. PBWMC members plan to join a special, invitation-only reception on May 7th, along with conference speakers, and sponsor reps, at the conference hotel. The main event kicks off the next day at the Irving Convention Center.
Texas Capital Arranges NGL’s Recent Financial Transactions
Congratulations to one of recent sponsors for the 4th Annual Oilfield Water Markets Conference! The company worked to arrange a $700M Term Loan and a $2.2B Senior Note
Texas Pacific Land Corporation Announces Fourth Quarter and Full Year 2023 Results
The increase in revenue was principally due to a combined increase of $10.1 million in water sales and produced water royalties and an increase of $8.3 million in easements and other surface-related income
Lilac Welcomes Raef Sully as New CEO
Congratulations to a new sponsor of the Oilfield Water Markets Conference - Lilac Solutions - on the appointment of a new CEO, Raef Sully. Come learn about what they are doing in extracting lithium from produced water.
Volt Lithium Reduces Operating Costs By 64%, Achieving Operational Milestone
The company announced the achievement of another critical milestone on the path to commercializing its proprietary and proven next-generation Direct Lithium Extraction (“DLE”) technology for processing oilfield brines at the Company’s permanent Demonstration Plant in Calgary.
Homes shake and dogs bark as earthquake hits Friday morning near Carlsbad
The latest earthquake was the largest magnitude event of the year in the Permian Basin region, including along the Texas-New Mexico state line south of Eddy and Lea counties.
Texas Appellate Court: Water Created During Fracking Is Oil and Gas Waste, Not Water
This decision may come into play in any future perfluoroalkyl and polyfluoroalkyl (also known as PFAS) litigation as it provides insight on the issue of ownership and who may be deemed responsible for its disposal.
Profile on Democrat Candidate for Texas RRC
Bill Burch is running to raise awareness of groundwater contamination.
Delaware Supreme Court Affirms Ruling in Favor of Texas Pacific Land Corporation on Litigation Related to Stockholders’ Agreement
Texas Pacific Land Corporation announced that the Delaware Supreme Court affirmed the December 1, 2023 ruling of the Delaware Court of Chancery in favor of TPL in the litigation between the Company and Horizon Kinetics LLC, Horizon Kinetics Asset Management LLC, SoftVest Advisors, LLC and SoftVest, L.P., in Horizon Kinetics, LLC, et al. v. Texas Pacific Land Corporation, (C.A. No. 478, 2023) (Del.).
WATER TALENT POOL: EnviroKlean Honors the Legacy of Highly Respected Frac Water Manager Bill Hartis
EnviroKlean, Inc. announced the addition of another EK FracReady trailer to its fleet named in memory of highly-respected and well-loved teammate, Bill Hartis, who passed away on January 22, 2024. RIP Bill.
Another New Mexico Legislative Session Ends, and Again — No New Oil and Gas Reforms
Article complaining that they did not impose yet more regulations on the industry.
Fracking wastewater will stay in Lujan Grisham's strategic water plan
Gov. Michelle Lujan Grisham will sign a final set of legislative bills next week, but one she wanted to see on her desk will be missing: a provision for $100 million to jumpstart a strategic water supply for New Mexico.
New Demands to Measure Emissions Raise Cautious Hopes in Pennsylvania Among Environmental Activists Who Monitor Fracking Sites
The new EPA rules govern wells as well as wastewater tanks. Activists are excited about the increased federal overreach.
E&P M&A Continues...
Chord Energy and Enerplus to Combine in $11 Billion Transaction Creating Premier Williston-Focused E&P Company with Top-Tier Shareholder Returns
...And Now Frac Sand M&A Too...
Atlas Energy Solutions Inc. to Acquire Hi-Crush Inc., Creating the Largest Proppant Producer in the Country and an Industry Leading Logistics Provider
...When Are The Water Deals Coming?
Come find out at the Oilfield Water Markets Conference May 8-9, where water midstream M&A will be a key topic of discussion (dedicated panel and will come up on in multiple sessions).
WATER TALENT POOL: Rabert Raup On The Move
The environmental supervisor wrote on linkedin: 'After 11+ years and several relocation packages at WPX/Devon, today is my last day. I appreciate everyone that I’ve worked with over the years and will miss the job. That said, the Raup’s are relocating to Denver and are looking forward to the next chapter. Cheers!'
WATER TALENT POOL: A younger generation is taking over the Texas oil fields
The folks calling the shots in the Texas oil industry seem to be getting younger. What does this change mean for the industry?
CLIMATE PUBLICATION HIT PIECE: "Railroad Commission Approves “Toxic Waste Ponds” Next to Baptist Camp"
Environmental activists complaining about a facility being used to recycle produced water. "Martin Water is building an oil and gas waste recycling facility next to the Circle 6 Baptist Camp in the Permian Basin despite concerns of water and air pollution."
Natural Gas Hasn’t Been This Cheap in Decades
The lowest inflation-adjusted prices in at least 34 years have drillers throttling down from record production
Oil prices rise as market monitors Gaza cease-fire talks, OPEC production cuts
The West Texas Intermediate contract for April rose $1.29, or 1.66%, to settle at $78.87 a barrel. Brent April futures rose $1.12, or 1.36%, to settle at $83.65 a barrel.
Murrysville OKs Olympus fracking pipeline work
One water line will support operations at Olympus’s Athena well pad in Washington Township. The other, along with the gas lines, will connect the Hephaestus well pad in Upper Burrell to the Hermes well pad on the border of Murrysville and Plum, according to Olympus spokesperson Jennifer Hoffman.
Delek Logistics's New Connection In Midland Gathering System
“We saw substantial growth from new connections in our Midland gathering operations, further validating our strong position in the Permian Basin,” said Avigal Soreq, President of Delek Logistics' general partner.
Heartland Evaporation Solution for Produced Water Highlighted in American Oil & Gas Reporter Article
Article discusses how disposal constraints are driving creative research into water treatment and reuse.
Mark Patton On Recent Developments With Produced Water
February editorial hits on lithium in the Permian, injectivity/solids control, seismicity, and constant change.
Levine Leichtman Capital Partners Acquires USA Water
Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has acquired USA Water (the “Company”) from Warren Equity Partners in partnership with management. Financial terms of the transaction were not disclosed.
The Produced Water Problem- Part 4
Final segment of a Permian Basin news station’s series on produced water.
Petronas fined $22,500 for Canadian water spill
The British Columbia Energy Regulator has fined Petronas for a produced water spill on Feb 17, 2021
Crude oil and produced water release in Sherwood, ND
The report states that 280 barrels of produced water and 20 barrels of crude oil were released because of equipment failure or malfunction.
Nordic Services LLC reports release in Williams County, ND
The report shows that 1,400 barrels of produced water were released because of equipment failure or malfunction.
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