Issue #48 | Time Is On Our Side

Oilfield Water Weekly

Wednesday February 26, 2020

It’s been another busy week of important water market news as you’ll see in the digest below, starting with an upset in the TX RRC race last night. But first, a quick update on the Oilfield Water Markets 2020 Conference, which is now just about 90 days away.

We announced the opening keynote speaker yesterday. Michael LaMotte, Senior Managing Director at Guggenheim Securities, will deliver a timely talk titled Waste To Value, addressing the evolution of the oilfield water midstream business model and how it fits into today’s shifting capital market themes.

Our event is moving forward as planned. With it being further out on the calendar, time is on our side as we expect many of today’s travel concerns will be alleviated by then. While CERAWeek was cancelled last-second due to coronavirus concerns, we do not anticipate the same issues. Their event includes 5,000+ attendees from 80+ nations. We expect 300 people, primarily from Texas (most attendees won’t even have to board flights). We are closely monitoring the situation and will keep everyone up to date if concerns rise. Worst-case scenario would be teleconferencing the event…but we do not expect it to come to that.

We touched base with all confirmed speakers and sponsors this week, and they are all in and committed to the event! Are you? If you were looking forward to speaking or exhibiting at a one of the handful of March events that other organizers have cancelled, please drop us an email – we have opportunities at our May conference to offer!

One additional conference note today before diving into the news digest… we are excited today to welcome Lagoon Water Midstream to the May 26-28 Oilfield Water Markets conference as a new Gold Sponsor! Headquartered in Oklahoma City, Lagoon Water Midstream provides reliable produced water takeaway solutions through a network of over 200 miles of underground water pipeline and 17 disposal wells, as well as commercial water recycling services to oil and gas producers for completion operations. Lagoon’s customer-centric focus is responsive to operators’ needs to reduce lease operating costs, improve capital efficiency, and execute on ESG initiatives. The firm’s Chief Commercial Officer Caitlyn Jackson will also be speaking on a panel at the event and we look forward to her remarks. Stay tuned for some more big speaker announcements next week!

And now, here are the top oilfield water industry headlines of the week…


News Digest

TX RRC Primary's Super Tuesday: Incumbent Ryan Sitton Is Out As Democrats Face A Runoff In May

Republican incumbent Ryan Sitton, who is wrapping up his first six-year term on the three-member board and authored the recent flaring report, congratulated his opponent James “Jim” Wright, whom Sitton trailed behind most of the night. Wright owns an oilfield waste services company. Meanwhile the Democrat side is still a bit close to call as of this writing, but it looks like the two front runners, Chrysta Castañeda and Beto Alonzo will be headed to a runoff election in May...

What To Expect From The Keynote Address At The Oilfield Water Markets 2020 Conference, Which Continues As Planned

Titled ‘Waste To Value’, the May 26 opening keynote from Michael LaMotte will provide attendees with a timely update on the availability of capital for no waste circular economies and the value creation opportunity this investment theme presents for firms in the oilfield water management sector...

All Confirmed Speakers And Sponsors Are All In And Most Are From Texas

Our May 26-28 event is on track as planned. We touched base with all confirmed speakers and sponsors this week, and they are all in!

Corona Quote Of The Day From An Energy CEO Who Believes People Are Overreacting

Here's what one energy CEO very candidly told investors in Vail this week about how he thinks the broader public and O&G industry is overreacting to fear surrounding the coronavirus...

Trump Pushes Oilfield Water Recycling

The Trump administration moved Thursday on a water-recycling push it says could get good use out of more of the wastewater that industries, cities and farms spew out, including the billions of barrels of watery waste generated by oil and gas fields each year...

WaterBridge Highlights Environmental Initiatives and Launches 2020 ESG Program

WaterBridge highlighted its ongoing commitment to advancing environmental, social and governance ("ESG") initiatives. In addition to noting its environmental accomplishments for 2019, WaterBridge has also launched its formal ESG program for 2020...

Next Week Is Groundwater Awareness Week

Here are links to information prepared by the Texas Groundwater Protection Committee..

WATER TALENT POOL: Permian Water Midstream Facilities Operator Opening

Facilities Engineer immediately requested for Water Midstream Operator in Midland, TX.

WATER TALENT POOL: Opening For Business Development Director In Water Infrastructure

Enable Midstream Partners has the opening....

WATER TALENT POOL: Keystone Clearwater Solutions Hosts Open Recruitment Session Today For Multiple Water Positions

Keystone Clearwater Solutions plans to host an open recruitment effort today to fill multiple open water positions in the Marcellus Shale...

Midstream Newco: Tatanka Midstream Secures Initial $500 Million Capital Commitment From EnCap Flatrock

“We are excited to partner with EnCap Flatrock to create a company that provides innovative midstream solutions that are safe and environmentally responsible, forge optimal and efficient pathways to market, and create exceptional value for all stakeholders,” said Tatanka Midstream CEO Keith Casey...

US Oilfield RIF Tally Mounts [Chart Of The Day]

Incorporating these reports into our analysis has increased the 2019 US Shale RIF count by 50% to roughly 15,000 jobs lost...

Private Equity Raised More In 2019 Than Ever Before

Private capital fundraising posted a banner year in 2019, with $888 billion raised across 1,064 funds, the most private capital ever raised on an annual basis, according to PitchBook’s Private Fund Strategies Report. The $26 billion flagship vehicle raised by Blackstone marked the largest buyout fund ever....

New Devonian SWD Well Field Seeking Funding

Ben Reed writes: I am raising capital for 30 Devonian SWD wells on the Lea/Eddy/New Mexico/Texas border. We are self-funding our first Devonian well around June and are looking to raise with two strategic capital partners to rapidly expand.

M 2.3 - 11km NNE of Odessa, Texas

Another day, another quake...

Visualizing Seismic Activity In The Southern Delaware

Seismicity since the beginning of the year. Mostly minor events. A few events extend the reach of seismically-active areas which will have implications on SWD permitting moving forward writes Chris Weyand...

In Texas The Surface Estate Owns The Produced Water

Gabe Collins writes in a new memo: "Certain parties in Texas seek to re-classify formation water a/k/a/ “produced water” as a “waste” that must somehow be part of the mineral estate. Their position is legally unsustainable..."

Flaring ‘Conversation’ Intensity Heats Up [Chart Of The Day]

Infill Thinking has introduced a different kind of flaring intensity index – the flaring conversation intensity. Here's a chart and analysis of the conversation nexus on flaring....

Apache Calls It Quits on Alpine High After $3 Billion Charge

Apache has no plans for future drilling at West Texas find...

2019 New Mexico SWD Efficiency

Chris Weyand writes: the most efficient operators are: 1. Devon Energy, 2. Chevron, 3. Oilfield Water Logistics, 4. XTO Energy, 5. B C & D Operating...

EOG Resources's "Huff-N-Puff" EOR Project Approved In Eagle Ford

In January, the Railroad Commission of Texas approved EOG Resources's "huff-n-puff" #EOR project in their Kerner-Carson Unit, Gonzales County, TX....

A Different Kind Of Water Bottleneck: Heavy Rain In Permian Is Causing Some Logistics Issues This Morning

TxDOT reports that the State Highway 349 underpass at BI-20 is closed due to heavy rain. Crews are working now to pump out the water...

U.S. Sen. Tom Udall Introduces Bill To 'Modernize' O&G Fees On Federal Land

U.S. Sen. Tom Udall (D-NM) hoped to target oil and gas leases by increasing rental rates and the amount of royalties returned to U.S. taxpayers from extraction operations....

Intrepid Potash Reports Water Sales

Total company water sales were $25.7 million in 2019 including by-product water, an increase of $5.9 million compared to 2018...

Boil Water Notice Issued For Some Big Spring Residents

The City of Big Spring has issued a boil water notice for residents living west of Highway 87 and south of FM 700. We pay attention to news like this because any time citizens in the Permian have water issues it tends to draw attention to the oilfield out there, even if unrelated...

A Water Midstream Firm Closed This Monday To Celebrate Texas Independence Day

Happy Texas Independence Day from Blackbuck Resources!

SWDs - Art or Science?

Ben Reed writes: Building produced water infrastructure and saltwater disposals...a business art or a business science? My experience has been that it is a bit of both. Of course one needs to evaluate the micro-market of a given opportunity... That is:...

Opinion: Water Midstream Consolidation Trends Likely To Continue

For E&P companies looking to maximize operational costs efficiencies, water midstream operations don’t come with the same margins as production growth....

Reducing Formation Water Production For The Life Of The Well

IHS Markit estimates the U.S. oilfield water management market to be valued at approximately $40 billion in 2020, representing a 5% year-on-year market growth above 2019.

Treated Brine Spills At Bakken SWD

Saltwater treated with hydrochloric acid spilled at a Williams County disposal site on Monday, the North Dakota Oil and Gas Division reported....

SMG Industries Acquires A Midstream Logistics Firm

5J Oilfield Services LLC and 5J Trucking LLc sold to SMG on Feburary 27...

Large Produced Water Spill In North Dakota Contained And Recovered

Saltwater disposal company Bosque Disposal System reported valve connection leak caused the spill. The spilled brine was fully contained and recovered...

Disposal Trucks Linked To Traffic Fatalities

“In the long-run, since a well may need to be fracked multiple times over its productive life, operators may improve the water supply system by constructing water wells serving multiple well pads via a piping system,” Xu said. “They could also develop the onsite wastewater treatment and disposal facilities as opposed to trucking wastewater over long distances Such measure would reduce the long-term transport costs and the associated traffic effects.”...

Mining Company Files Another Request To Export Water From Iowa, This Time For Significantly Less

Pattison Sand Co. has submitted a new request to the state environmental agency to export water from Iowa, but the second time around, it's shrinking how much it wants to send to drought-stricken western states.

Oil Jumps For A Second Day On OPEC Recommendation

Oil advanced for a second day after an OPEC+ committee recommended a larger supply cut to offset lost demand from the spread of the coronavirus....

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