Issue #8 | It Floats!

Oilfield Water Weekly

Wednesday May 29, 2019

This time a week ago, no one knew just how well Rattler Midstream’s stock would do in its publicly-traded debut. Now we all know. That IPO floats!

After pricing in the middle of its expected price range, the new listing outperformed the broader energy market by double-digits on its first day.

Perhaps more importantly, the stock has held onto those gains, trading above the high end of the range into the closing bell yesterday. For background on why this matters to the oilfield water world, please check out our previous edition, which previewed the IPO.

Since then… plenty more oilfield water business news has hit the tape with Bloomberg reporting on a big Delaware ranch deal process and the battle for control of Texas Pacific Land Trust escalating further (is that even possible??). Those stories and much more are covered in this week’s headline recap below (never a dull moment in this space).

Meanwhile, the water field’s response to our upcoming industry gathering has been just as positive as Wall Street’s reaction to Rattler. Unlike other oilfield water events, this one is purely devoted to business model, market structure and finance issues. Speaker and sponsor opportunities have quickly been allocated to prominent industry leaders for this June 21 symposium at the Houston Petroleum Club.

The speaker lineup is final and by the time our next newsletter hits your inbox a week from now:

  • less than 25% of the seats will still be available (this event is on track to sell-out),
  • sponsorships will be sold-out (there is only one opportunity left), and
  • our room block at the Hyatt across the street will have expired.

We don’t want you to miss this! So… if you’ve been planning to register, now is the time to do it. We hope to see you in the room (there is no webcast planned and the only way to absorb the networking and knowledge sharing is to be present on June 21). Please check out the agenda and register here if you haven’t already.

To the many of you reading this email that have already signed up to sponsor, speak and/or attend – thank you! Your collective knowledge, expertise and experience ensures that this will be a highly productive day for all involved.

And now for this week’s top oilfield water industry headlines…


News Digest

It Floats! Positive Water Midstream Datapoint From Diamondback Spinco IPO

The Rattler Midstream IPO didn't just perform well, price well, and get upsized. It also posted a double-digit gain on its first day - a day when crude was down 3% and O&G equities were down more than that in the broader market...

Diamondback's Rattler Raises $665 Million in Biggest Energy IPO of 2019

The Midland, Texas-based pipeline company sold 38 million shares at $17.50 each, pricing an increased number of shares in the middle of its targeted range...

Texas Ranch To Fetch Almost Half A Billion Amid Water Rush

In a quality piece of investigative journalism, Bloomberg uncovered a $450 million bid to acquire the Hanging H Ranch in the Delaware Basin. While many folks reading this newsletter were likely already familiar with this deal process, this article is the first time it has come to light in the business press... And Oilfield Water Connection insights are cited as well...

The New Gold Rush: Permian Basin Disposal Capacity...

Check out this brief, impactful video from the Sourcewater team that touches on how pore space availability in the subsurface and new disposal permitting will be the hot topic of the coming year...

Saltwater Disposal Well Boom In The Permian Basin

A boom to build new saltwater disposal wells is underway in the Permian Basin. Permian growth is happening faster than companies can build landfills for oilfield waste and disposal wells to inject wastewater deep underground...

TXOGA Praises HB 3246 Water Recycling Law

The Texas Oil & Gas Association commented after HB 3246 became law on May 24: "Recycling produced water is becoming more common thanks to the oil and natural gas industry's commitment to innovation and technological advances..."

USGS Confirms Four Earthquakes In The Eagle Ford Shale

The US Geological Survey has confirmed that four low-magnitude earthquakes have taken place in recent weeks in the Eagle Ford Shale of South Texas...

Closing The Loop On Water Treatment [Podcast]

Our friends at World Oil published a great discussion with Clay Maugans of Select Energy Services... Give it a listen here...

Why’d We Start This Oilfield Water Conference? [12-minute Audio Interview]

Jason Spiess talked to Oilfield Water Connection co-founder Joseph Triepke about the origins of our first industry conference on June 21 in Houston, the speaker lineup, and oilfield water industry trends.... Give it a listen here...

Texas Pacific Land Trust Activist Investor Claims Victory & Accuses The Trust Of "Wrongful Acts" & A Private Plane Might Be Involved...

The counter-claims seek a declaratory judgment that the vote conducted at the May 22 shareholder meeting was valid and effective, and that Mr. Eric Oliver has been overwhelmingly elected as TPL's third trustee. The Investor Group is also pursuing damages from the incumbent trustees for their alleged "wrongful acts" as trustees, including alledging the more than 5,000% raise in salary given to themselves and the recent undisclosed purchase of a private plane....

TPL Trust Lawsuit Accuses Activist Investor Of Securities Law Violations

Texas Pacific Land Trust filed a lawsuit in the United States District Court for the Northern District of Texas against Eric L. Oliver for violations of federal securities laws in connection with the proxy contest Mr. Oliver initiated to be elected as a trustee of TPL...

NM Governor Vows To Work With O&G Industry

Five months into her tenure as governor of New Mexico, Michelle Lujan Grisham vowed to continue to work with the oil and gas industry even as her administration rolled out an agenda to prioritize renewable energy amid a boom in oil and gas development in the southeast corner of the state...

ConocoPhillips Settles Oklahoma City Water Pollution Lawsuit

The lawsuit, filed in Oklahoma City federal court in 2016, said ConocoPhillips didn't sufficiently dispose of saltwater overflow from the West Edmond Oil Field. ConocoPhillips reached a confidential settlement with residents of more than 30 homes in the nearby Clifford Farms subdivision last week, The Oklahoman reported...

Pennsylvania Attorney General Investigates Oilfield Waste Disposal

The Pennsylvania Attorney General’s office is investigating the disposal of contaminated water from a landfill that accepts frac waste to a sewage treatment plant in Fayette County....

The Now Unimaginable Produced Water Disposal Practices Of A Century Ago - My How Far We've Come!

A century ago on Huntington Beach, waste from hundreds of wells was piped into the ocean. We’ve come a long ways since those days to protect the environment and operate in a safe and responsible manner....

How To Maintain Injectivity Of SWDs: From Formation To Water Quality

Solids-particle damage depends on particle size of the solids, oil present in the injected water, and the average pore-throat diameter of the formation. If the particles are larger than the average pore-throat diameter of the formation, then the particles cannot penetrate the pores....

Private Equity Funds Face Rising Risk Of Disputes

"I think private equity plays an important role in the market, whether it's acquiring leases or providing capital for developing leases or providing capital for secondary operations like water disposal," Meghan Dawson McElvy said.

Tense Water Hauler Rescue In The Bakken [Pictures]

A 20-year-old Bakken worker rescued a water hauling driver who had gotten pinned under the driver’s side door of his semi-truck after a rollover accident in the oilfield...

The Biggest Oilfield Water Business Event Of The Year Is Less Than A Month Away!

Peter Bowden, Global Head of Energy at Jefferies investment bank, is the keynote speaker and will address "The Water Opportunity" before 18 other experts take the stage to talk about oilfield water's evolving business model and market structure...

Energy Companies Eye Big Oil & Gas Expansion In Wyoming

Wyoming regulators are considering a permit revision that would increase the amount of oil and gas wastewater that is discharged into Boysen Reservoir...

EPA Acquires Views On Produced Water

Produced water—the subject of a new EPA draft study—is a multifaceted environmental issue that presents golden opportunities and prompts difficult human health and ecological questions...

EPA Considers Options For Reuse & Discharge Of Oil & Gas Wastewater

As it weighs giving states, tribes, and fossil fuel companies more leeway in how they handle rising volumes of oilfield wastewater, the U.S. Environmental Protection Agency will have to balance regulatory flexibility with the potential for harm to the environment and human health...

Hydrogeology Company Opens New Texas Office To Serve Permian & Eagle Ford Customers

Connate Water Solutions LLC has opened a branch office in San Antonio...

Beyond Our Borders: Colombia Hints It Could Green-Light Fracing, despite warnings

Colombia‘s government hinted last week that it will permit fracking by foreign oil companies, despite the comptroller’s office warning this would have “catastrophic and irreversible” consequences...

And Across The Pond... Treatment Site Confirmed For Cuadrilla Frac Flowback Fluid

Some of the waste flowback fluid from Cuadrilla’s fracking site in Lancashire was taken to a treatment centre in Leeds, the UK's Environment Agency (EA) has confirmed....

Subscribe


Looking to stay connected in the rapidly evolving oilfield water management business? Look no further than the Oilfield Water Connection’s Weekly News Digest.

Subscribe to get our carefully curated summary of relevant water news and analysis delivered to your inbox each Wednesday morning

We will only email you relevant news, analysis and announcements along with occasional sponsored content. You may unsubscribe at any time.

Share Your News


Send us your press releases and any other news articles which you believe would be of interest to our readers. Email submissions to hello@oilfieldwater.com

Advertising


Do you provide oilfield water technology, or service? Advertise in the Oilfield Water Weekly.

LEARN MORE

[ESPRESSO_TICKET_SELECTOR event_id=459]

Stay Informed

Subscribe to Oilfield Water Weekly

We will only email you relevant news, analysis and announcements along with occasional sponsored content. You may unsubscribe at any time.