With a growing number of initiatives looking to stifle oil and gas, many might wonder what the future might hold for the industry. Well, look no further than the Bakken and Rockies region, according to speakers during Hart Energy’s DUG Bakken and Rockies virtual conference.

Given recent headlines and regulations, the future of the oil and gas industry starts with the Bakken and Rockies, and speakers during the virtual conference, which begins streaming at 9 a.m. CST Sept. 8, said it is these challenges that have provided a clear path toward the future for the U.S. oil and gas industry.

“I am excited about the future in front of our company and our industry in general,” said Wade Hutchings, executive vice president and COO of Enerplus Corp., in the opening keynote of the conference.

 

The Bakken is at the core of today’s Enerplus, according to Hutchings, further strengthened by two transformative acquisitions made by the company in the shale play earlier this year.

“We’re well-positioned to create value for our stakeholders for years to come from our focus on a strong balance sheet and generation of meaningful free cash flow,” he continued. “The company’s track record of capital allocation and ESG performance is well aligned with today’s heightened market expectations in both areas.”

Throughout the virtual conference featuring some of the most active players in the Bakken and Rockies, speakers shared the latest technology, strategies and trends, including several examples of ESG in action. Other highlights include outlooks for U.S. natgas and hydrocarbon dynamics and crypto-mining with associated gas, as well as a panel discussion on improving resource recovery while lowering costs.

During an operator spotlight, Rich Frommer, president and CEO of Great Western Petroleum LLC, provided an update from the company, which included a deeper look at a real-life example of ESG at work at its Ivey Pad in Adams County, Colorado.

Great Western’s Ivey Pad, located in the Wattenberg Field within the Denver-Julesburg Basin, became a landmark project in terms of new technologies and community involvement following the passage of Colorado’s SB-181 in 2019. 

The company, according to Frommer, addressed inquiries of the some 240 households who live within a half-mile radius of the pad development with real data and real facts plus the implementation of several technological innovations such as continuous air and noise monitoring.

“I believe the science is on our side and the data tells the story,” he said. “We’ve been innovative, we’ve been tested and we’ve proven we can produce our product safely.”

“I really believe here in Colorado that we have not had this amount of certainty for our business in over a decade,” he added.

The Colorado oil and gas industry is figuring out the model that Dan Haley, president and CEO of the Colorado Oil & Gas Association (COGA), believes will bring the energy sector into the future.

“As the world gets more concerned about climate change, as it gets more concerned about ensuring that we’re delivering and producing resources cleaner and better than ever before, I think people will begin to look toward Colorado where we have this environmental standard that is set by the state in many cases but also set by our operators through innovation and technology out in the field,” Haley said during a Q&A with Hart Energy Editorial Director Len Vermillion.

“You can’t count out a place that I think has a clear path toward the future,” he added.

The DUG Bakken and Rockies virtual conference begins streaming on-demand at 9 a.m. CST Sept. 8. For more information on speakers and the agenda, visit DUGRockies.com.

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