Issue #39 | 2019 In Oilfield Water Weekly Headlines…

Oilfield Water Weekly

Wednesday January 1, 2020

Happy New Year!

Thank you for joining us each week as we carefully curate the most important oilfield water industry news and analysis for business leaders. Thanks also to everyone who attended, spoke, or sponsored at the two unique industry conferences we hosted in 2019.

It is because of what you do to advance the oilfield water industry’s mission that we have exciting news to report and exciting conferences to organize. We look forward to covering a dynamic new year of oilfield water industry developments alongside you in 2020.

Instead of throwing more headlines at you this week, this week’s edition is a “year in review 2019” summary. In the dozen top headlines of the year below, you’ll find news about watershed moments and valuable research that provides a flavor for the incredible year in water midstream that 2019 was.

We’ll return to our regular weekly digest format next week and look forward to crossing paths with you in 2020


News Digest

#1 The Full Raymond James Oilfield Water Research Note [PDF]

What is the outlook for U.S. produced oilfield water and what will it mean for investors? The Raymond James equity research team weighed in on oilfield water trends both in print and on our conference stage last year. Our most popular newsletter story of 2019 was when the Ray Jay team made their deep dive oilfield water note available to our readers. Their excellent work here was symbolic of surging Wall Street interest in oilfield water during 2019, with multiple sell-side analysts writing about this niche for the first time in their careers...

#2 Interactive Map Of Goodnight Midstream's SWD Facilities

Following news in November that Goodnight Midstream was expanding in the Eagle Ford and had fully integrated Wyatt Water, we whipped together this interactive Google map for Oilfield Water Connection readers, putting all of the company's SWD facilities across their three geo-markets on one map. This unique resource was the second most popular item we ran in our 2019 newsletters..

#3 Wild Wild West – Some Big News Brewing In A Key West Texas Ranch Sale Process

Infill Thinking confirmed (with some exclusive reporting on very colorful action) in September that an LOI on a sales agreement has been signed on a West Texas ranch at the center of a bidding war, family controversy, and the oilfield water frenzy...

#4 He Paid $1.50 An Acre For Barren Texas Land Now Worth $7 Billion

This Bloomberg deep dive on Fasken Ranch was one of the most popular stories we featured in 2019. It fits with the industry's intense focus on Permian water issues. Back in 1913, when Toronto attorney David Fasken paid $1.50 an acre for plains outside Midland, the plan, according to lore, was to make a fortune raising cattle. There was too little water for that to happen. So today, instead of shipping in fresh water for the drilling process, the company uses mostly recycled or nonpotable H₂0...

#5 Goodnight Comments On Terminated Transaction, While Another Water M&A Deal Is Announced

Oilfield water M&A took one step forward and one step back when, in a single day in September, Goodnight confirmed the termination of the $930mm TPG acquisition and NGL announced the acquisition of Hillstone for $600mm. At times in 2019, there were so many deal headlines flying around in oilfield water that it was a full time job just to keep up!

#6 Permian Basin Water Management Spending Projections [Chart]

The size of the Lower 48 and Permian Basin water management addressable markets was a regular topic of interest during 2019. Our friend Kurt Knewitz was early to share some projections, writing on LinkedIn in April about the size of the market in what was a very popular post we included in one of our first weekly newletters...

#7 E&P Consolidation Is A Catalyst For More Oilfield Water Divestitures & Recycling

This thought piece from our friends at Infill Thinking was one of the most popular items in our newsletter all year. In it, Infill Thinking's research desk discussed some second and third order effects of the E&P M&A trend, where we saw 6 large public Independent combinations in 2019...

#8 Aqua Men-Startups & Stalwarts Will Reshape Oilfield Water

On a typical spring day in 2019, Permian Basin oil wells will produce enough wastewater to fill about 900 Olympic-size swimming pools (13-14mmbpd). By the early-2020s, that figure could approach 1,800 swimming pools filled...

#9 Chevron Outlines Permian Water Strategy

This extremely popular story in our water newsletter was indicative of the focus everyone in the industry had in 2019 on how the majors are tackling water and sustainability issues. Attendees at our October conference were enlightened when four key members of the Chevron water team joined us on stage to share how they are optimizing water management and approaching water strategies for the long haul...

#10 The Next Big Wave For Midstream: An Emerging Midstream Asset Class [Download]

Oilfield Water Connection was granted permission by Wells Fargo analyst Michael Blum in July to share with our readers this 22-page deep dive industry note sent to his institutional investor clients. It's a great read with plenty of perspective and graphics on the emerging water midstream sector, and it's popularity in our newsletter showed the industry's focus on finding data driven answers to big questions about the evolution of the oilfield water management industry throughout the year...

#11 Permian Water Recyclers See Increasing Need For Larger-Scale Facilities

The popularity of this article underscored a growing focus on system integration, super systems, and "both / and" solution packages that include disposal and recycling...

#12 As WaterBridge Pulls The Plug On IPO… More Oilfield Water Finance Conference Takeaways

The inaugural Oilfield Water Connection event delivered a corporate finance focused agenda at a time of elevated financial engineering activity in this sector. For example, WaterBridge’s deal-packed news release shortly after disclosed the consummation of multiple transactions (debt financing and M&A) as well as the withdrawal of their confidential IPO filing...

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