WSJ opinion piece about methane reduction and forest protection strategies by the Environmental Defense Fund which is reasonably balanced.
Record LNG exports to China.
Article about who certifies “responsibly sourced” natural gas. It makes you wonder who gets to set the standards for all these ESG requirements being imposed on companies.
Colgate buys 22,000 acres of leases in Lea and Eddy County, N.M.
Continental makes a splash entering the Delaware Basin by buying about 32,000 surface acres of production and leases from Pioneer for $3.25 billion.
Industry study says methane emissions in Permian have declined 70% in the last nine years.
Great primer on CO2 capture and sequestration. Explains both the current technology and markets.
WSJ article with fancy graphics with analysis on how much it costs to charge an electric vehicle versus fill up a comparable gas vehicle. There are savings with electric but it depends on location and whether you are charging at home or on the road.
Cactus lost the motion for summary judgment with COG. They have been trying to lease produced water rights, arguing the produced water does not belong to the operator because of the lease. It would give people who own surface, especially if they do not own the minerals under it, a strong incentive to do these leases to try to tap into the income stream to be made (potentially) from produced water. I assume an appeal is forthcoming.
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It seems to me that the WSJ article comparing cost of gas vs electric cars has left out one variable which is the varying state gasoline taxes which are included in gas cost. As the percentage of electric increases, the states will have to assess road taxes on electric cars on some basis - such as annual tax per vehicle or by mileage. This will likely eliminate any cost differences for drivers.
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Good point. The Texas legislature tried to do a tax like this in the last session and of course got portrayed in the press as knuckle dragging Neanderthals.
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RBC article that explains why diesel from renewables is more of a threat to replacing oil than ethanol is to gasoline.
Northern Oil bought another 6000 net acres in the Permian with the acquisition of Veritas’ acreage. Map in the article. Link
Double E pipeline, which runs 135 miles from SE New Mexico to Waha, has gone into service.
Summary from Carlsbad paper about Natural gas deals in the area.
Climate activist group wants to introduce resolution at next Exxon Board meeting accelerating its carbon reduction goals, already some of the most aggressive in the industry.
Colgate planning IPO. Significant Permian operator.
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Encap merged two of its financed companies, Advanced Energy and Ameredev II, into a single company. Market cap is $4 billion. You can see the confidence reemerging when mergers and IPOs start coming out.
Increasing number of articles coming out warning of gas takeaway constraints in the Permian redeveloping starting next year. One cause is “capital discipline” from operators, but another is the growing hostility to oil and gas lending in general, with many traditional sources of lending now practicing a form of “redlining” when it comes to oil and gas companies.
RBN article talks about how gas processing plants are being dismantled from other areas and moved the the Permian to help with gas production growth there.