Dusty Jones

🚨 Important Update: GPA Midstream & Industry Partners Respond to PHMSA's Proposed Regulations 🚨   GPA Midstream was joined by 10 leading organizations in the gas gathering industry to formally address significant concerns to the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA). Our joint comments with groups like the American Petroleum Institute and others from key states highlight critical issues with the proposed leak detection rules, which do not comply with statutory requirements.   The discussions held during recent GPAC meetings have brought to light the pressing need for major revisions to the proposed regulations to ensure they are reasonable and backed by accurate risk assessments that meet criteria established by the U.S. Congress.   For a deeper look at our concerns and the potential impact on the industry, visit our website. Let’s ensure that regulatory changes are made with careful consideration of both safety and feasibility.   🔗 https://lnkd.in/ghgNeqtj   #GPAMidstream #PHMSA #GasGathering #PipelineSafety #RegulatoryUpdate #IndustryLeadership

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More Smokin’ Hot Deals to Be Had in the Lone Star State  Reese Energy Consulting today is following the latest buzz from the nation’s largest oil-producing state where the Texas horse trading continues among midstreamers and Eagle Ford producers. First up is Houston-based Phillips 66 (PSX), which operates a midstream powerhouse with 72,000 miles of crude oil, natural gas, and NGL pipelines, along with fractionation and gas processing—all of which serve its diverse business segment to include chemicals and refining. After a years’ long JV courtship, PSX last year acquired DCP Midstream for $3.8 billion to further beef up its NGL business following record fractionated volumes and growing export demand. The company will now add even more meat to its NGL bones in the Permian Midland with the pick-up of Pinnacle Midstream II LLC for $550 million. The deal includes the Dos Pico processing complex with 220 MMCFD of capacity, ample space for a second 220 MMCFD gas plant, and 80 miles of pipeline. In short order Houston-based WildFire Energy LLC has shrewdly executed its pure-play South Texas strategy to create the largest consolidated acreage position in the Eagle Ford. The company has now landed its fourth acquisition in three years, this time in a deal with Apache Corporation. The price was not disclosed but wraps up Apache’s non-core asset sale that fetched a total $750 million. Wildfire will gain 237,000 net acres, 11 MBOED, and interests in 465 wells. Pro forma, the company will operate 850,000 net acres, 50 MBOED, and more than 2,000 gross wells. What do you think? Learn more about REC and our crude oil, natural gas, and NGL consulting services at https://lnkd.in/ewhkGFa.

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Kinder Morgan attributed the growth in its natural gas pipeline segment to increased margins on storage assets and higher volumes on gathering systems, further boosted by the recent STX Midstream acquisition https://ow.ly/uQuk50Riyzh

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Gelber Gas Daily #NaturalGas -- Cheniere Expects Train 1 at Project 3 Corpus Christi Expansion to Begin Production By End of 2024: NYMEX natural gas futures are up $0.10, last trading at $2.14/MMBtu. On Wednesday, G&A reported on Venture Global’s advancement of its Plaquemines first production timeline, in the larger context of producer price responses needing to remain adaptable to the substantial uncertainty that continues to be evident in LNG development timelines. This morning, Cheniere noted that Train 1 of its Project 3 Corpus Christi LNG expansion should begin production by the end of this year. CEO Jack Fusco also noted that planned summer outages should not take as long, compared with previous years. With the headline providing price support, the June contract is now trading at its highest since mid-March. Associated gas primarily from the Permian has remained plentiful as many operators are able to continually be profitable with their drilling even in the current low-priced environment, due to the strength of oil prices (gas at hubs like Waha have even gone negative several times in cash markets). Given the reliance on crude for associated gas, recent developments in crude should be watched. The trifecta of OPEC+ members continuing to produce above intended quotas, a decay in geopolitical supply risk from the Middle East, and broader bearishness from an extendedly hawkish Federal Reserve has been enough to drag heavily on the uptrend in crude that began late 2023. More recently, an unexpected build brought inventories to a 10-month high, sending prices below $80/bbl. Should the recent downtrend continue, there should be two main implications for natural gas. Firstly, the lower oil prices go, the more weight Permian producers will need to place on gas prices when determining their profitability, which could accelerate producer price response and translate to higher volatility for gas prices. Secondly, should oil go low enough to prompt cuts from these participants, associated gas will drop in tandem. Should oil continue to drop, the scenario of gas production becoming more sensitive to the currently low priced environment will continue injecting bullish sentiment into the market. #Naturalgas #Oilandgas #Commodities #NYMEX #HenryHub #Trading #Hedging #Gelber #markets #LNG #OPEC #Crude #oil #EIA #gas #gelber #WTI 

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As we begin to approach the 2024 hurricane season it is important to know how #LNG exports could be affected in the event that a hurricane disrupted facilities on the #Texas and #Louisiana coasts. Last year, Robert Kachmar ran scenarios with GPCM® Market Simulator for North American Gas and LNG™ on how a variety of facilities could be affected and how this would in-turn affect prices and storage injections. Read here: https://lnkd.in/gHMP5Uy2

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The South Texas Drilling Permit Roundup is a weekly review of new drilling permit applications filed with the Railroad Commission of Texas over a 67-county area of South Texas. With natural gas prices projected to rise in the coming months, South Texas drillers are making big moves in the Eagle Ford Shale. South Texas drillers filed permit applications for 35 new wells last week — up 25% from the week before, according to the Railroad Commission of Texas data. #oilandgas

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Do you work in Chemicals or Petrochem? Are you part of Refinery Shutdowns or Turnarounds? If so, this is the conference for you! Join us in New Orleans, LA from July 30th - August 1st! Our team specializes in Contractor & Asset Management and would love to chat. #chemicals #petrochem #AES32 #contractors #contractormanagement #assets #assetmanagement

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Permian Resources continues to make moves in its core acreage areas in the Delaware Basin and progress realizing synergies related to its $4.5 billion acquisition of Earthstone Energy, the company said in a May 7 earnings release. The company raised its tally of first-quarter acquisitions to about $270 million. In January, the company said it would acquire Delaware leasehold in two bolt-on deals. The two transactions added 11,500 net leasehold acres and 4,000 net royalty acres in Eddy County, New Mexico, for $175 million. Permian Resources said it continues to strengthen its acreage position in the core of the Delaware through bolt-on acquisitions and additional properties acquired through its ongoing grassroots program. The bolt-on deals, from undisclosed third-party sellers, consist of predominantly undeveloped acreage offset by Permian Resources' “highly capital efficient Parkway asset,” the company said. Inventory on the acquired acreage comprises two-mile locations with high net revenue interests, which the company said would immediately compete for capital. The company closed one transaction during the first quarter. The second is pending and expected to close late in the second quarter. "The acquired acreage is analogous to our high-quality Parkway position. This area represents one of the highest returning assets within our portfolio, with returns driven by reduced D&C costs and strong oil cuts. We are excited to begin development on the acquired acreage later this year," said Co-CEO Will Hickey. Permian Resources also continues to execute on its ground game through smaller grassroots acquisitions and leasehold transactions. During the first quarter, the company completed approximately 150 grassroots leasing and working interest acquisitions. The majority of these acquisitions are slated for near-term development, making them highly accretive, the company said. Through the combined efforts, the company said it had added approximately 11,200 net leasehold acres and 4,500 net royalty acres—slightly less leasehold and more royalty acres than disclosed in January. Permian Resources said the acquisitions were transacted at approximately $9,500 per net leasehold acre and approximately $5,000 per net royalty acre after adjusting for production value. Permian Resources has identified approximately 110 gross operated locations on the acquired properties. In total, these acquisitions contributed less than 100 boe/d of total production in the first quarter. Permian Resources additionally reported that the integration of its $4.5 billion Earthstone deal is ahead of schedule. Permian Resources, which acquired Earthstone in November, upped its annual synergy target from the deal by $50 million to $225 million.

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Paul Foster Sleeps Well in El Paso Weather temps in El Paso, Texas, today are expected to breach the 103° mark. Nothing out of the ordinary here when summer says “howdy” to West Texas and her Permian oilfields. El Paso is where billionaire oil tycoon Paul Foster lays his head at night. He was born here after all, and today the sprawling city is marked with his name on two college campuses, a downtown building, and a boutique hotel. From roughneck to refiner to oil and gas producer and investor, Foster has continued to demonstrate a Midas touch. And now the Permian E&P he co-founded just six years ago is looking like a cool dip in the pool for Delaware buyers. Reese Energy Consulting today is following the latest news on Denver-based Franklin Mountain Energy, LLC (FME), one of the largest privately held oil and gas producers in the N.M. Delaware. Following the 2017 sale of his El Paso-based Western Refinery for $5.8 billion, Foster—the founder and CEO of Franklin Mountain Investments—took only a hot minute before launching FME along with six partners in 2018. This time, diving back into the oil and gas biz as a self-funded E&P for the first 33 months with a decided mantra to not go public or invite outside investors. Instead, FME was all about finding the right asset and taking it from there. And, boy, did they find it. The newcomer to the Delaware—which no one had ever heard of—gobbled up 4,041 Delaware acres at a 2018 BLM auction. Two weeks later, FME acquired OneEnergy Partners, adding another 4,280 net acres. What began with production of 50 BOED at a then-$38 per barrel has now become 50 MBOED. The Midas Touch Man whose name is firmly etched in El Paso is now hardly a secret behind Franklin Mountain Energy—said to be among the latest Permian acquisition targets and a fine fetch in the $3 billion range. Sweet dreams, Mr. Foster. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ewhkGFa.     

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The history of oil & natural gas in Oklahoma dates back to the 1800s. Today, Oklahoma is the nation's fifth-largest producer of natural gas and sixth-largest producer of crude oil.

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Pipeline operators are increasingly turning to corporate takeovers to expand amid growing opposition to new pipeline construction. Energy Transfer is set to buy WTG Midstream, the largest private natural gas gathering and processing business in the Permian region of West Texas & New Mexico. https://lnkd.in/eGT2bJ_E If you are looking to expand your O&G footprint without the midstream cost and potential risks, contact Higher Power Energy Resources

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Navigating a new territory like New Mexico can be daunting. That's why we've created the Landman's Guide to New Mexico, giving you a complete overview of the state's oil & gas and regulatory landscape. #HELG #LandmansGuide #NewMexico

Global Seamless Tubes & Pipes, a leading manufacturer and exporter of carbon, alloy and stainless steel cold drawn and hot finish seamless tubes and pipes, announced it will invest $35 million to establish its first U.S. production facility in northwest Louisiana. The India-based company expects to create 135 direct new jobs in DeSoto Parish. Louisiana Economic Development estimates the project will result in 251 indirect new jobs, for a total of 386 potential new jobs in the Northwest Region. “LED is dedicated to bringing jobs and economic opportunities to each and every corner of our state,” LED Secretary Susan B. Bourgeois said. “This investment will promote growth in our rural communities while providing support to Louisiana’s oil and gas industry. I thank Global Seamless for investing in Louisiana and our skilled manufacturing workforce, and for recognizing the competitive advantages our state offers to expanding businesses.” “As a natural gas hub and a key player in the international energy supply chain, Louisiana is a natural choice for our second production facility, our first in the Western Hemisphere,” Global Seamless President A.R. Biswas said. “Global Seamless is dedicated to providing our customers with high-quality services and products, and this new plant will allow us to better serve those customers with a local supply chain.” Seamless tubes and pipes are able to better withstand high-pressure, high-corrosive environments like those found in the oil and gas industry, because they do not possess a welding seam that can become a weak spot in these conditions. These materials are also regularly used in the transportation of fluids such as water, natural gas, waste and air. Engineering and design of the former Hensley Industries facility is currently underway with construction and installation of the first production line expected to follow shortly after. The company estimates commercial operations to start by the end of the year. "I am excited that Global Seamless Tubes & Pipes is establishing a manufacturing facility in Mansfield, the parish seat of DeSoto Parish,” Mansfield Mayor Thomas Jones, Jr. said. “This venture will spark our local economy and bring needed quality jobs to this community. We will definitely embrace our new business owners and work with them to make this a smooth transition.” To secure the project in Mansfield, the state of Louisiana offered Global Seamless a competitive incentives package including the comprehensive workforce development solutions of LED FastStart. It also included a $1.25 million Performance-Based Matching Grant to be used for reimbursements of utility, road and facility improvement expenditures. The company is also expected to participate in Louisiana’s Quality Jobs program. Click here for more on Global Seamless. https://lnkd.in/eq6e-eZK

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Have you seen this news about the $435M in funding the Energy Dept. is putting towards small and midsized manufacturers in current and former coal communities? With Texas currently the 7th leading state for coal production, this is big news. The program is aimed specifically at communities that have been affected by the country’s shift away from coal. Good stuff. #machining #cnc #manufacturing #engineering #machinist #cncmachining #machineshop #fabrication #metalwork #cncmachinist #mfg #manufacturingsuccess

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Momentum Midstream's NG3 pipeline project in Haynesville, with an initial capacity of 1.7 Bcf/d and is expandable to 2.2 Bcf/d, is moving forward after settling a legal dispute with Energy Transfer. Read Haynesville Price and Fundamentals update: https://hubs.li/Q02D5b2j0 #eft #ongt #lng #naturalgasproduction #naturalgasindustry #energymarkets #oilandgas #energy #marketupdate #energyindustry #commodities #commoditymarkets #inflation #riskmanagement #oilandgasindustry #hedging #volatility

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