Wellhead Systems Inc.’s Post

With money being expensive, high ROI & IRR projects are in demand. Check out EAG's recent study on ReFracs in the Haynesville.

Energy Advisors Group has released a Special Supplement ReFrac Report focused on horizontal wells in the Haynesville/Bossier formations as an addition to our Original Hayesville Report issued April 12, 2024. This Report evaluates the performance of every Haynesville/Bossier ReFrac/Recompletion (199 wells or just 3% of Haynesville/Bossier horizontal wells drilled). It concludes that ReFracs are coming in at 90% of original completion rates and 75% are estimated to have payback in <12 months. Download The Haynesville Supplement Report Here: https://lnkd.in/gyVhWFS5 If you missed our Haynesville/Bossier basin study, you can find it here: https://lnkd.in/guK5cBPs Please reach out to Brian J. Lidsky ([email protected]) or Blake Dornak ([email protected]) to learn more about this report or any of EAG's other market monitor research studies. We are working hard to expand our thought leadership and look forward to providing additional market insight for our clients through regional perspectives, M&A analysis and market monitor. Current Assignments: https://lnkd.in/epPqcEZ Qualifications & Capabilities: https://lnkd.in/gUKH7wuV Research/Perspectives: https://lnkd.in/g6mjMQ8p #haynesville #bossier #easttexas #louisiana #oilandgas #study #research #capitalmarkets #mergersandacquisitions

💡Learn more about the history and ongoing impact of Louisiana's #oilandgas industry. This article explores its economic power and the social and environmental considerations: https://loom.ly/PcAXLlE

No more drilling on Forties and Beryl and an imminent closure of Grangemouth – a perfect storm for the UK’s energy security? When the UK government imposed an additional tax levy on oil and gas producers early in 2023, several operators responded by cancelling drilling activities. Apache UK was amongst the most vocal in imposing an immediate stop to drilling on their Forties and Beryl assets. In this talk, David Moseley – Vice President Operations (Europe) at Welligence Energy Analytics – explores the consequences of no further drilling activity at these fields, both of which continue, for now at least, to form important production hubs. He will also discuss the impact of bringing COP forward on both the fields themselves and the upside in their catchment areas. Included will be a review of the Forties pipeline throughput to place into context the recent announcement that the Grangemouth terminal is set for closure. You will also learn the latest on wells being drilled in the North Sea, presented by Alyson Harding from Westwood Global Energy Group. 🗒️ - Tuesday 30th January 2024 - 12:00-14:00 ⬇️ - Atholl Hotel - 54 King‘s Gate, Aberdeen 🥪 - Will be served 🎫 - £25 👉 - Registration: https://lnkd.in/erihqUEW GESGB (Geoscience Energy Society of Great Britain), GEO EXPRO

📢 Webinar Alert! 📊 Why did Devon Energy bet $5 billion on the Bakken instead of the Permian? Join our webinar to uncover the strategy behind this industry-shaking move. Our head of research, Brandon M., will use cutting-edge machine learning analytics to examine Devon's acquisition of Grayson Mill Energy's assets. We'll explore rock quality comparisons, portfolio impacts, and operational synergies to decode this pivotal decision. Whether you're an investor, analyst, or industry enthusiast, don't miss this data-driven dive into one of the year's most intriguing oil and gas developments. Register using the link in the comments. #oott #oilgas #acquisition #acquisitionanalysis #bakken #permian

MARTIN COUNTY, Texas—In the country’s busiest oil field, frackers are devouring nearly as much electricity as four Seattles every day—and they are clamoring for more.    Diamondback Energy, a major producer in the Permian Basin of West Texas and New Mexico, has increasingly relied on the electric grid to power its crude harvesting. But as the driller’s oil production has grown nearly 50 times in the past 10 years, the grid has struggled to handle this new demand, prompting Diamondback to set up its own power network to cut its use of natural-gas-fired generators. “The grid has to catch up with the industrials and what’s going on here,” said Hunter Landers, the company’s vice president of completions. As drillers have faced investor and public pressure to cut greenhouse-gas emissions, they have ditched polluting diesel-power generators and plugged into the grid at breakneck speed. Sourcing electricity increasingly generated by wind and solar power allows the companies to cut their carbon footprint. On top of making companies greener, utility-scale power means savings on fuel costs and more efficient operations, oil and gas executives say. But the trend is sending electricity sales soaring in Texas, New Mexico and North Dakota. Like other kinds of businesses trying to electrify, drillers have hit a bottleneck, finding there is only so much capacity on the grid. Many operators who can’t wait for infrastructure to catch up have built it themselves. Consumers haven’t felt much of an impact yet, though investments in grid infrastructure or new generation will be needed across much of the U.S. as more industries electrify. The cost of the investments is huge, and consumers will eventually bear some of that. The International Energy Agency said in a May report that using electricity to power equipment instead of diesel or natural gas could halve the 700 million metric tons of carbon emissions from global oil and gas production by 2030. “From one perspective, we’re early innings,” Ryder Booth, vice president of Chevron’s midcontinent business unit, said of the Permian’s increasing electrification efforts. While U.S. electricity sales rose just 5% in the past decade, some states with large oil and gas fields have seen some of the largest jumps in power usage in the country. In New Mexico, the amount of electricity sales in megawatt hours has jumped 16% in a decade, largely driven by the Permian oil patch in the southeastern corner of the state, according to government data and regulatory filings. In North Dakota, which boasts oil production of around 1.3 million barrels of oil a day along with a growing network of bitcoin miners and data centers, electricity sales have jumped more than 58% overall and 120% for industrial customers in the past decade, the biggest such increases in the country.

Empire building in the Beetaloo, funded by Federal Government gas grants. The Department of Industry, Science and Resources is investigating if Empire Energy has been given Research & Development grants in preparation for fracking in the Beetaloo Basin. This is contrary to the R&D program’s rules, Kim Wingerei reports. The R&D grant program is a popular government scheme assisting businesses doing research and development. It covers up to 43.5% of  R&D costs incurred in the form of tax rebates. However, it cannot be used for “prospecting, exploring or drilling... Story by: Kim Wingerei

Off the Beaten Path Following up on our post from Tuesday, Reese Energy Consulting today is following news from producers who are finding oil and gas magic on the fringes of core-basin plays. In an article earlier this month, Hart Energy featured Denver-based Bayswater Exploration and Production, which aside from its assets in the DJ and Powder River, also operates 48,000 acres in the Permian’s Northern Midland. Here, targeting the Wolfcamp and Spraberry, Bayswater is striking paydirt the farther east it explores. Call it extending the extensions. With a strategy to develop tier-2 acreage positions that could ultimately deliver tier-1 performance, the company first went to work in Howard County, Texas, near Mitchell County, where high levels of carbonates comprised of limestone and dolomite have tended to discourage drilling. Not so for Bayswater, which discovered a rich hydrocarbon environment in the carbonate/shale reservoir, completing its first well in 2021 with initial production of nearly 1.3 MBPD and cumulative production of 430+ Mbbls. Now three years later, Bayswater has moved farther east into Mitchell County, reporting even higher production and drilling six more 2.5-mile laterals with completions slated this summer. Speaking of step outs, gas producers Comstock Resources and Aethon Energy continue their “victory is mine” exploration and development of the Western Haynesville—an extension now aptly christened Waynesville. Aethon, whose newest well in Robertson County, Texas, produced nearly 3.3 BCF in the first four months of production last fall, can’t get enough of Wayne’s world and is now on the hunt for more. What do you think? Learn more about REC and our crude oil and natural gas consulting services in the Permian and Haynesville at https://lnkd.in/ebXT2mS. #energy #drilling #oilandgas #reeseenergyconsulting

About 4934 trillion cubic feet of gas have been produced in the world since 1900. The United States has accounted for about 30% of that total. Texas (32.5%) and Louisiana (18.3%) together account for more than half of all natural gas produced in the United States through 2021. Fracking radically altered the natural gas industry. The ability to inject water, sand, and chemicals under high pressure into a bedrock formation to create, open, and expand fractures in the rock opened up a new frontier in gas production. The Marcellus Shale Area in north central West Virginia and a large expanse of Pennsylvania became the nation's largest gas field. It was followed by other "fracked fields" with names like Fayetteville Shale (north central Arkansas and Barnett Shale (near Fort Worth, Texas). #naturalgas #fracking #LNG #energytransitions #climatechange #dataanalysis #datascience #datavisualization #sciencecommunication #equity #energyjustice #energyinsecurity #sustainability #sustainable #environmentaljustice http://spr.ly/6048eA9cg

Hello Everyone and thank you for joining us weekly during our live Wed(NSI)days! This week we are excited to welcome returning guest speaker Richard Spears, Vice President with Spears & Associates, who will be discussing: Hydraulic Fracturing Market American oil & gas producers just completed an unprecedented FIFTH YEAR of financial discipline, a discipline that was fully embraced by E&P management teams after being punished by disgruntled investors late in 2018. This discipline that keeps the American oil and gas industry from getting too heated when commodity prices are high is the same discipline that keeps the industry from collapsing when oil and gas prices fall. And that same financial discipline has been broadly implemented by the largest frac service companies. We are a year into a negative “correction” of the frac industry and service companies are still financially strong, still holding onto pricing, and still aggressively working on improving efficiency. As a result of that discipline, investors and lenders are tiptoeing back into oilfield service companies. Join us this week in welcoming a returning guest speaker and to participate in what is sure to be a great discussion! When:             Wednesday, April 3rd at 9 am CT Topic:               Hydraulic Fracturing Market Guest Speaker: Richard Spears, Vice President with Spears & Associates Host:                Steve Cobb, Chairman, NSI Technologies, LLC FREE Registration Link: https://lnkd.in/e8QWq5A #innovation #technology #energy #oilgas #production #oilandgas #cloud #hydrocarbons #offshore #oilandgasindustry #oilfield #oil #gas #petroleum #drilling #oilindustry #energystrong #onshore #oilandgasexploration #permianbasin #upstream #permian #completions #frac #shale #eagleford #reservoir #geomechanics #hydraulicfracturing #bakken