Oil and Gas Investor Magazine - August 2023
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RIGHT PLACE, RIGHT TIME, RIGHT SIZE
CEO Jesse Arenivas takes EnLink Midstream to first-mover status with a pipeline of carbon capture and sequestration projects.
HUNTING GIANTS
Harold Hamm reflects on exploration, shedding the shackles of a public listing, oil politics, the role of American energy and why he wrote his memoir.
ANALYSTS: EXXON-DENBURY DEAL ADDS MEANINGFUL CCUS SCALE
The $4.9 billion transaction gives Exxon Mobil even greater scale in CCUS—a major pillar of its low-carbon strategy.
PRIVATE EQUITY TOUTS E&P INVESTMENTS, ACKNOWLEDGES FUNDRAISING WOES
ESG pressures and declining returns in the past have hindered plans by private equity firms such as Quantum Energy Partners to raise billions of dollars.
CRITICAL CHALLENGES WITH CRITICAL MINERALS
China has pushed aggressively to secure critical minerals around the globe—can U.S. legislators address production and supply chain issues?
FREEPORT LNG’S TRAINS BACK ON TRACK AFTER MAJOR DERAILMENT
While the facility’s three trains have restarted 10 months after a fire-related shutdown, the company’s ability to add a fourth train is uncertain.
HYDRAULIC FRACTURING TECHBOOK 2023
EQUIPMENT REFRESH, RETIREMENT SUGGEST TIGHT FRAC MARKET
Tier 4 dynamic gas blending and e-frac systems deliver fuel savings to capital discipline-conscious E&Ps.
SHALE DEVELOPMENT ENTERS A NEW ERA
Digitization, electrification and refined chemistry shape the future of hydraulic fracturing.
EXTENSIVE TOOLS FOR FRAC DATA COLLECTION AND ANALYSIS FUEL BREAKTHROUGHS
Frac design, refrac liner testing and a waterless frac gun are among deep diagnostics in the queue.
GoM’S LOWER TERTIARY DRIVES PROPPANT FRACKING OFFSHORE
Whether the reservoir is a sandstone or carbonate, completing an offshore well is high-stakes and logistics-intensive, but technologies have helped drive down emissions associated with offshore hydraulic fracturing.
CLEAN THE FRAC UP
In an effort to boost sustainability, service providers are making conscious choices to use less diesel fuel.
TAKE YOUR PICK OF PROPPANTS
Advances in proppant technology give the hydraulic fracturing space the best of all worlds.
INNOVATIONS CONTINUE TO PUSH THE LIMITS OF EFFICIENCY
Next-generation fleets are poised to take center stage.
REMOTE COMPLETIONS COULD BE WAVE OF THE FUTURE
Technology, trust and a track record could vault completions activities into remote workflows.
ENCORE OF THE OIL PATCH
Underutilized to this point, refracking wells has proved itself effective in boosting oil recovery.
CARBON & ESG STRATEGIES 2023
ENERGY SECTOR EVOLVES AS SUSTAINABILITY DRIVE RAMPS UP
Despite challenges such as maintaining social licenses to operate and permitting reform, companies are pushing forward with carbon management and ESG strategies.
2023 ESG AWARDS
12 companies are recognized for advancements made in sustainable operation, local community engagement and positive workplace culture.
HONEYWELL PICKS UP THE PACE ON CCS
The company’s carbon capture and storage technology was selected for Exxon Mobil’s blue hydrogen and CCS project in Baytown, Texas.
TALOS ENERGY MAKES LANDFALL TO TACKLE CSS PROJECTS
Low-carbon strategy executive Robin Fielder explains how different pieces—engineering, stakeholder engagement, funding—come together.
CRESCENT BEGINS TO SHINE BRIGHT AFTER RAPID, BUT QUIET, GROWTH
CEO Jerry Ashcroft is guiding the offshore pipeline player toward carbon-neutral status by year-end.
THE INTERSECTION OF CORPORATE SUSTAINABILITY AND ENVIRONMENTAL JUSTICE
Wade Foster and Krista Mcintyre of Stoel Rives LLP explain the importance of weaving meaningful objectives into ESG-driven business decision.
WOOD’S DEVIL IN THE DETAILS WITH CCS
Transporting huge volumes of CO2, tracking impurities in the system and managing carbon systems in varied geographies—Wood’s experts on how they plan to make the complicated process work.
Cover Story
EnLink Midstream: Right Place, Right Time, Right Size
CEO Jesse Arenivas takes EnLink Midstream to first-mover status with a pipeline of carbon capture and sequestration projects.
Feature
Analysts: Exxon-Denbury Deal Adds Meaningful CCS Scale for the Future
Acquiring Plano-based Denbury Inc. in a $4.9 billion deal gives Exxon Mobil even greater scale in carbon capture, utilization and storage (CCUS)—a major pillar of the U.S. supermajor’s low-carbon strategy.
As China Dominates, Private Capital Vital for US Critical Minerals
Identifying solutions for the critical minerals challenge is a growing point of discussion as the U.S. works to strengthen its supply chain both domestically and abroad.
Freeport LNG Trains Back on Track After Major Derailment
Freeport LNG’s three trains located at its export facility on Quintana Island off the coast of Texas are back online after a 10-month fire-related shutdown and to the appeasement of clients from France’s TotalEnergies to Japan’s Osaka Gas.
Hunting Giants: Hamm Reflects on 50 Years of American Energy
Harold Hamm reflects on his life, career and ongoing plans in his newly released book, “Game Changer: Our 50-Year Mission to Secure American Energy Independence.” In a conversation with Oil and Gas Investor, he reflects on exploration, shedding the shackles of a public listing, oil politics, the role of American energy and why he wrote the book.
Private Equity Touts E&P Investments, Acknowledges Fundraising Woes
ESG pressures and declining returns in the past have hindered plans by private equity firms such as Quantum Energy Partners to raise billions of dollars.
A&D Watch
Analysts: Patterson-UTI M&A May Continue After NexTier, Ulterra Deals
Patterson-UTI’s cash-and-stock acquisition of Ulterra Drilling Technologies enhances PTEN’s position in the drilling and completions market. After the recent merger announcement with NexTier, analysts wonder if PTEN might pursue more M&A.
Berkshire Hathaway Boosting Stake in Cove Point LNG for $3.3B
Berkshire Hathaway Energy is boosting its ownership stake in Cove Point LNG through a $3.3 billion acquisition from Dominion Energy.
Civitas Enters Permian in $4.7B in Deals for Tap Rock, Hibernia
Civitas Resources expands from the Denver-Julesburg in two deals to buy NGP’s Tap Rock, Hibernia in cash and stock deals valued at $4.7 billion.
Hitting the Market Soon: The Entire Federal Helium System
The federal government is starting the process to sell the entire Federal Helium System near Amarillo, Texas, next month. Could a major industrial gas player be a buyer for the legacy assets?
PE Firm Acquires Powder River Basin E&P Northwoods Energy
Private equity firm OneRock Energy is adding over 160,000 net acres in Wyoming’s Powder River Basin with a deal to acquire Northwoods Energy.
At Closing
Column: EOG on Its New Frac Design: ‘No Comment’
EOG Resources has a new Delaware Basin frac design that’s lifting Wolfcamp production and EUR by 20% and more. How? Here are some clues.
Commentary
Column: Energy Transition and e-Mobility in Mexico
Mexico’s most obvious energy transition effort relates to its push to embrace electric mobility, or e-mobility, but the country faces many of the same challenges as markets in North America and Europe.
For LNG, 2023 is the New 2014
Recent announcements show it’s no cliché to say that LNG is heating up again.
Paisie: Oil Price to Zig and Zag Upward
OPEC+ will remain intent on adjusting supply to align with demand.
Romito: ISSB Celebrates a Little Too Soon
What was achieved in the International Sustainability Standards Board’s newest standards? Unfortunately, says Dan Romito, nothing material.
Viability of US Offshore Oil and Gas Industry at Risk
The Biden administration’s offshore oil and gas policies undermine both energy security and climate goals.
Energy Transition
Hydrogen’s Chicken, Egg Quandary Has Financers Flying the Coop
Though FIDs are slow going for hydrogen as the industry awaits clarity on incentives, some early investors are moving forward anyway.
Nabors Launches Second Energy Transition SPAC
Nabors Energy Transition Corp. II intends to raise $300 million with a proposed public blank check company, or SPAC – it’s second of 2023.
Finance & Investment
Exclusive Q&A: Number of Energy IPOs May More Than Double by End of Year
With four energy IPOs so far this year, six more may launch before the end of 2023.
Gas Producers Stress Tested at Lower Prices Show Mixed Results
Nine natural gas companies’ resilience was tested amid a mock drop in gas prices, with some E&Ps potentially facing debt repayment hardships and producing negative cash flow at lower prices.
Rystad: Oil, Gas Sector Has All the Money it Needs
Despite the hue and cry over oil and gas underinvestment, Rystad said greater efficiency and productivity has the investments needed for E&Ps to meet demand.
From the Editor-in-Chief
Carbon Capture and Capitalization: Industry Transforms, Tackles the Transition
While progress is being made to achieve net-zero emissions by 2030, there is still much to be done, and the key may lie with carbon capture and storage.
Global Energy
LNG Exporting SE Asia Eyes More Imports
The eleven country Southeast Asia region remains a net LNG exporter, but falling reserves are pushing some countries to eye LNG imports, according to Poten & Partners.
Mexico Embracing E-mobility, but Headwinds Persist
Mexico, home to the 10th largest population in the world, is increasingly embracing electromobility but like other countries worldwide will face headwinds in the process.
Minister: Latin America Faces Unrealistic Demands from Energy Transition
Stuart Young, Trinidad and Tobago’s minister of energy and energy industries, stressed the need for Latin America and Caribbean energy security in the face of energy transition demands during his June 5 keynote at the Caribbean Sustainable Energy Conference hosted by the twin-island nation’s Energy Chamber.
Technology
DNV: Cybersecurity Fears Rise on Hacktivism, Geopolitics
Geopolitical uncertainty, regulatory environment represent drivers of increased investment in cybersecurity in the energy sector, according to a DNV report.
Nanobubbles, NGLs Show Promise in Oil Recovery
Nitrogen bubbles and recyclable propane treatments have enhanced oil recovery and cleaned out formations.
URTeC: Devon, Hess Emphasize Teamwork to Tackle Emissions
At the opening of the 2023 Unconventional Resources Technology Conference, executives from Devon, Hess and other companies said net zero goals require collaboration.
URTeC: One Solution to Orphaned Wells? Consider Adopting
The USGS has documented about 150,000 orphaned wells in the U.S. in need of plugging, but a government scientist wants industry to consider another option: adoption.