Stacy Racca

Two greenfield #NaturalGas pipeline projects providing egress from the Haynesville Shale are targeting a 2025 in-service date and two midstream companies recently said they are considering brownfield expansions to egress pipelines in Louisiana. Haynesville production has declined this year amid weak #GasPrices. It has averaged 14.3 Bcf/d so far this summer, down from 15.9 Bcf/d in summer 2023, according to data from S&P Global Commodity Insights. Read more: https://okt.to/8OD2IH

21

1 Comment

Struggling to keep up with the complexities of oilfield accounting and taxes? Hardhat Accounting is here to take that weight off your shoulders. Our team is dedicated to the unique needs of oilfield businesses, we bring years of expertise and a commitment to quality service in the Permian Basin. From tax planning to full accounting services, we ensure your finances are in expert hands, so you can focus on growing your business. Reach out to Philip Reed today to learn how Hardhat Accounting can help you stay ahead! ☎️ (210)-712-0724 📧 [email protected] #oilfield #accounting #taxes #permianbasin

5

Kinetik Gets Electric in 2Q To maybe no one’s surprise the nation’s largest midstream companies are enjoying one heckuva year now at midpoint. This, sealed with a kiss by Dallas-based Energy Transfer, which recently announced a staggering 44% increase in profit during 2Q. All in all, the Big Five of oil and gas infrastructure, to also include Enterprise Products, Williams, ONEOK, and Kinder Morgan, Inc., are reaping sweet benefits of record volumes and growing exports by way of new builds, expansions, and acquisitions to keep the party going. But for Permian producers, the Big Five aren’t the only game in town that’s growing and thriving. Reese Energy Consulting today spotlights Midland, Texas-based Kinetik Midstream, a Permian pure-player that in short order has become the Delaware’s largest independent gatherer and processor. The company’s $765 million acquisition in May of Durango Midstream, which expanded Kinetik’s Delaware “super system” into N.M., has already proved a superstar in 2Q. The company reported net income of $108.9 million vs 71.7 million the same time last year, processing 1.58 BCFD, and revising its guidance upward. According to CEO Jamie Welch, “A year ago, we had zero operations in the New Mexico Delaware Basin, and today, nearly 20% of our volumes are sourced from New Mexico.” Kinetik operates 4,700 miles of pipe across Texas and N.M., six gas plants, King’s Landing under construction, and a pre-FID on King’s Landing II. To that we say fabulous job, Kinetik, proving you don’t have to be a behemoth to become a neighborhood giant. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ewhkGFa. Learn more about our online natural gas training courses at https://lnkd.in/ggd3UkJM.

2

According to plant manager Nathan Clinkscale .... Brazos Manufacturing leads the way in training its employees in all facets of manufacturing. Bi-weekly a leadership training class is held to further equip those desiring to better themselves as leaders. This week Parts Department Lead Robert Norris gave a presentation on 5S and shared the improvements his department has made over the last couple of months. Brazos’ parts department has set a clear standard of what is expected across the company when it comes to these matters. Robert and his team has led the way when it comes to:  1. Sort  2. Set in order  3. Shine 4. Standardize  5. Sustain 

5

Introducing episode 1 of our new video series, “RAMblings: A Reliability and Maintenance (RAM) Conversation.” Watch as Solomon's Reliability & Maintenance Study Manager, Doug Speers, is prompted with questions and RAMbles about client and market dynamics related to reliability and maintenance in the oil and gas industry. Episode 1 is out now. Enjoyed the teaser below? Watch the full episode here: https://lnkd.in/gnpTB2jD #RAMblings #RAMblingsSeries #RAMblingsVideoSeries #oilandgas #series #podcast #QandA #refining #chemicals #operations #benchmarking #performanceimprovement #consulting #reliability #maintenance #RAM #realiabilityandmaintenance #videoseries #costculture #reliabilityculture #availability

20

Double Eagle IV has quietly added to its Midland Basin acreage footprint since the private E&P launched in 2022 with over $1.7 billion in investor commitments.   The latest iteration of Double Eagle is led by co-CEOs Cody Campbell and John Sellers, who in 2021 guided Midland Basin E&P Double Eagle III through a $6.4 billion sale to Pioneer Natural Resources.   After reloading with dry powder from EnCap Investments, Apollo Natural Resources and Magnetar Capital, Double Eagle IV is back to buying and drilling in the core of the Midland Basin.   Analysts say the experienced Double Eagle IV team has quickly developed one of the more attractive inventory portfolios among the shrinking list of private producers still standing in the Permian, and industry experts are keeping a close eye.   Double Eagle, unlike many of its smaller private peers, is drilling some of the most core portions of the Midland Basin, directly adjacent to where major players such as Pioneer, Diamondback Energy, Exxon Mobil Corp and ConocoPhillips.   Their operating arm, DE IV Operating LLC, are operating on leases in Martin, Reagan, Midland, Ector, Glasscock, Upton, Andrews and Howard counties, Texas.   The company’s Permian oil production totaled nearly 1.12 MMbbl this January, or an average 38,700 bbl/d, per the RRC’s most updated figures,   up from 96,000 bbl, roughly 3,100 bbl/d, in January 2023.   But Double Eagle IV’s value isn’t based on just existing oil production; It’s also based on the company’s high-quality portfolio of undrilled land.   It is estimate that they own 300 gross operated drilling locations across the core of the Midland Basin.   The land surrounding Double Eagle IV’s position is awash in a historic deluge of corporate consolidation, with many of the area’s oldest and largest operators getting scooped off the drawing board in a matter of months.   Exxon Mobil’s acquisition of Pioneer Natural Resources for $64.5 billion, including Pioneer’s net debt, will reshape the pecking order in the Midland Basin.   Diamondback Energy’s acquisition of Endeavor Energy Resources for $26 billion, including debt, was the largest takeout of a private oil producer on record, per Enverus data.   Occidental is making a smaller, albeit still massive, $12 billion acquisition of private E&P CrownRock LP for more running room in the Midland Basin.   Other smaller publics Civitas Resources, Ovintiv Inc., Vital Energy and SM Energy have also gotten deeper in the Midland Basin through M&A in the past year.   After well over $100 billion in deal making in the past 12 months, acquisitive operators are left with a much smaller slice of the Midland Basin pie to parse through for potential deals.   That’s why Double Eagle IV stands out so much among the rest of the private equity-backed E&Ps remaining in the Permian.   Experts anticipate Double Eagle IV will eventually approach the market for a sale, like the exit strategies for previous iterations of the company.

99

1 Comment

Strategically located in Texas to serve multiple industries.

8

FireBird Uncaged in the Permian Midland Back in Fall 2022, Fort Worth, Texas-based FireBird Energy II LLC—a Permian player that had built up a respectable position in the Midland over three years—hit the kind of jackpot with a story every portfolio company and their PE money-backers live to tell. This, at a time when naysayers believed FireBird’s position was situated too far west to be considered in the “core” of the play. But not so for one of the Permian’s largest operators, which had earlier in the year ruled out any possibility of a large-scale merger or acquisition. Sometimes, resistance is futile. Reese Energy Consulting today is following the latest news from FireBird formed in 2019, which struck a $1.6 billion deal in 2022 with Midland, Texas-based Diamondback Energy. Assets included 68,000 net acres, 450+ wells, and 17 MBPD, most of which FireBird acquired from Chevron for an undisclosed price less than a year before. The deal marked FireBird’s second since its founding in 2019, but the E&P was far from done in the Midland. Its siren song was still calling. After securing a $500 million private equity commitment in 2023 from Quantum Energy Partners, FireBird is now in its second iteration and rebuilding its Permian Midland position one deal at a time—and there’ve been many. Following its crackerjack sale to Diamondback, the company has closed on 15 acquisitions, accumulating 20,000 gross acres, a total 30 MBOED, while drilling 25 wells it expects to double by year end. This time around, FireBird is out to build serious scale in the area that rustles its tailfeathers, and evaluating opportunities—on the western side, of course—where a certain song continues to beckon. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ewhkGFa.

4

FireBird Uncaged in the Permian Midland Back in Fall 2022, Fort Worth, Texas-based FireBird Energy II LLC—a Permian player that had built up a respectable position in the Midland over three years—hit the kind of jackpot with a story every portfolio company and their PE money-backers live to tell. This, at a time when naysayers believed FireBird’s position was situated too far west to be considered in the “core” of the play. But not so for one of the Permian’s largest operators, which had earlier in the year ruled out any possibility of a large-scale merger or acquisition. Sometimes, resistance is futile. Reese Energy Consulting today is following the latest news from FireBird formed in 2019, which struck a $1.6 billion deal in 2022 with Midland, Texas-based Diamondback Energy. Assets included 68,000 net acres, 450+ wells, and 17 MBPD, most of which FireBird acquired from Chevron for an undisclosed price less than a year before. The deal marked FireBird’s second since its founding in 2019, but the E&P was far from done in the Midland. Its siren song was still calling. After securing a $500 million private equity commitment in 2023 from Quantum Energy Partners, FireBird is now in its second iteration and rebuilding its Permian Midland position one deal at a time—and there’ve been many. Following its crackerjack sale to Diamondback, the company has closed on 15 acquisitions, accumulating 20,000 gross acres, a total 30 MBOED, while drilling 25 wells it expects to double by year end. This time around, FireBird is out to build serious scale in the area that rustles its tailfeathers, and evaluating opportunities—on the western side, of course—where a certain song continues to beckon. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ewhkGFa.

1

CF Industries will invest approximately $100 million into a Mississippi facility to build a CO2 dehydration and compression unit. CO2 is generated as a byproduct of their ammonia production. The plan is for the CO2 to be subsequently captured to be transported and stored. The entire downstream industry has been railroaded into the CCS tribe by the net zero crowd. And it’s hard to stop the momentum. But I have to wonder, is this the best use of $100MM? Could it be better used to promote human flourishing?

11

2 Comments

Gas glut: Near-record associated gas volumes from the Permian and Bakken continue to put pressure on dry gas producers, which are curtailing output and cutting rigs across Appalachia and the Haynesville Shale.

4

Do you own federal oil & gas leases? Whether you just want a second set of eyes on your royalty calculations or would like us to handle your regulatory accounting from start to finish, we can help. Call Mia Downing at (405) 728-3003 ext. 1202 or Derek Weekly at (405) 728-3003 ext. 1409 to learn more from the experts. #ONRR #unbundling #oilandgas #royalties #experts

7

My post today for Steve Reese and Reese Energy Consulting. Permian Gas Pipeline Relief Now in Motion Permian natural gas producers and three interstate pipeline operators are starting to wipe the sweat and feel the love with the startup of the Matterhorn Express. The 490-mile, 2.5 BCFD capacity pipeline, is now ready-set-go to transport orphan gas supplies from the Waha Hub to the Katy area outside of Houston, and on to Gulf Coast markets and LNG export plants. And Matterhorn is defying timeline expectations by ramping up volumes less than three weeks after green-lighting operations. Kinder Morgan, Inc.’s NGPL, Williams’ Transco, and Enbridge’s Texas Eastern are the first recipients of that gas with combined initial gas flows of 1.2 BCFD via three interconnects. Reese Energy Consulting today is following the latest on one of many Permian nat-gas pipelines still awaiting FIDs or moving to the development stage. That one would be Kinder Morgan, which has now announced a final blessing to go forth and expand the fully subscribed 500-mile Gulf Coast Express to move more gas from the Permian to the Agua Dulce. The $455 million project will boost the pipeline’s capacity of 1.98 BCFD to 2.5 BCFD and is slated for completion in 2026. Permian gas storage is another biggie on the project roster for KM as highlighted in its 3Q earnings report last week. As demand for more natural gas-generated electrical power continues to rise, the company plans to add another 10 BCFD of incremental storage capacity on NGPL’s Gulf Coast system.   What do you think? Learn more about REC and our natural gas and midstream services at https://lnkd.in/eAebAz8. For more information about our online natural gas training courses, visit us at https://lnkd.in/gzcfeQqC.

1

Superior Midstream is relocating its corporate office to Tulsa, Oklahoma, where the fracked gas services company will focus on the "vibrant energy development" taking place in Tulsa and pursue "growth and innovation within the midstream sector." Superior Midstream, which provides services for gas gathering, compression, processing, treating, dehydration and marketing of fossil gas in Texas, Oklahoma, Kansas and Pennsylvania, is 100% co-owned by OPTrust and a private equity firm. Superior has no net-zero target, and the company goes casually unmentioned in OPTrust's Climate Change Action Plan. In the midst of a worsening climate crisis, OPSEU members may want to ask themselves what their pension fund's plan is for a company that is focused on the expansion of fracking and how owning Superior Midstream is consistent with OPTrust's net-zero emissions commitment.

1

Hey Oil & Gas Producers: today’s discussion is a little different.... Today, we’re going to talk about “rules”. All too often, I see operators holding onto long-held views calling them “rules”. Essentially, "rules" are either traditions and expectations that most accept as true. However, many times rules can simply be reclassified as bad habits. And bad habits make for all sorts of struggles in business and in life. But because these habits are mistaken for "rules", most people don’t realize they can be changed... That said, here's how by breaking some of these rules one oilman was able to 3X his well count overnight with little to no extra overhead costs in the video posted above. Curious, if an opportunity to 3X your business tomorrow presented itself, could you capitalize on it? If not, is this a self-imposed limitation or perhaps a "Rule" that needs to be broken? You can check it out in the video posted above. - Greg PS if you'd like to have a ‘turn key’ system in place to take advantage of such an opportunity, if you haven't done so already schedule a 5-min 'Prove it' call here: www.greasebook.com/vsl → Achieve results in less than 1 week. → "No-sweat" company set-up, turn-keyed by a Petroleum Engineer. → "Done for you" Pumper roll-out and training. → Unprecedented 60-day, 200% money-back guarantee. Schedule your 5 Minute 'Prove It' Call here >> www.greasebook.com/vsl

1

DeLa Express, LLC has entered the Federal Energy Regulatory Commission’s pre-filing review process for a new 683-mile natural gas transmission pipeline that would originate in the Permian Basin, expand east, and end near Lake Charles, Louisiana. The pipeline would traverse 27 counties in Texas and 1 parish in Louisiana. FERC’s environmental pre-filing review process is a “pre-application” phase in the overall environmental review process for interstate natural gas or liquefied natural gas (LNG) projects under FERC’s jurisdiction. The pre-filing process provides potentially affected landowners and the public opportunities to learn more about a project and influence a project’s design. To learn more about the pre-filing process, contact us by phone at 202-502-6595 or email at [email protected]. To learn more about DeLa Express, LLC’s project, eSubscribe to FERC Online: https://lnkd.in/dpNrnuar. FERC provides instructions for eSubscribing: https://lnkd.in/exDPeUed FERC also provides a brochure on natural gas facilities on lands, which is a really useful resource for citizens: https://lnkd.in/eP2-7bE4  #DeLaExpress #PF24-4 #FERCGas #FERCPrefiling #PublicParticipation #TexasCounties Texas Association of Counties Reeves County, TX  City of Midland  City Of Hamilton Bell County Brazos County Calcasieu Parish Police Jury

1

The afternoon session with Larry Webb from Flint Hills Resources really hit home. As part of the American Fuel & Petrochemical Manufacturers (AFPM) Reliability and Maintenance Bootcamp, he gave an insightful look into Process Safety Management (PSM) and its history. His key point: compliance doesn’t always mean safety. The question he posed, “Is your PSM program good or just lucky?” struck a chord. It’s a reminder that we need to relentlessly pursue perfection and not wait for an incident to drive a culture change. Proactive safety is the only way forward. #AFPM2024 #ProcessSafety #Reliability #SafetyCulture #PSMExcellence

13

1 Comment