Leslie Armentrout

Session 4: CCUS - SPE Symposium: Well Integrity Management (24SSA1) (spe-events.org)

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The latest ERCOT report outlines the Permian Basin Reliability Plan, highlighting critical developments and strategies essential for Texas energy professionals, particularly those focused on legislation and regulatory affairs. 📊🔍 Key Highlights: 🔹 Legislative Directive: House Bill 5066 mandates ERCOT to develop a comprehensive reliability plan for the Permian Basin, addressing both current and future demands. 🔹 Load Forecasting: Significant growth is forecasted in the region, driven by increased oil and gas activities alongside new industrial and data facilities, predicting peak demands reaching up to 14,705 MW by 2038. 🔹 Transmission Infrastructure: The plan identifies the need for substantial investment in transmission facilities to meet these demands, with cost estimates ranging from $9.1 billion (by 2030) to $15.3 billion (by 2038). 🔹 High Voltage Transmission: ERCOT is considering extra-high voltage (EHV) transmission lines to enhance grid reliability and efficiency, offering numerous benefits including increased transfer capability, reduced right-of-way impacts, and improved stability. 🔹 ERCOT’s Role: ERCOT oversees the planning process, conducting thorough assessments and collaborating with Transmission Service Providers (TSPs) and the ERCOT Regional Planning Group (RPG). For Texas energy professionals, especially those engaged in regulatory affairs, understanding these developments is crucial for strategic planning and compliance. The Permian Basin Reliability Plan not only aims to support the region's growing energy needs but also sets a foundation for sustainable and reliable energy infrastructure. 🌟⚡ Grid Monitor is committed to providing real-time, accurate data and insights to empower energy professionals. Stay tuned for more updates and in-depth analysis on how these developments will shape the future of Texas's energy landscape. #GridMonitor #ERCOT #PermianBasin #TexasEnergy #EnergyInfrastructure #Legislation #RegulatoryAffairs #EnergyProfessionals

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Among Texas Wildcatters, There’s No One Like the Fearless Rod Lewis One of the best things to discover from a news piece reporting a new oil and gas deal is the story that lies behind it no one’s talking about. That is unless one is inclined to dive deeper to understand the decision maker behind the deal. Reese Energy Consulting today has done just that to feature a fearless, larger-than-life Texas wildcatter billionaire behind the wheel of his 35-year-old company who continues to bet big beyond the border. REC today is following the latest news from Lewis Energy Group (LEG), one of South Texas’ largest gas producers. No secret to folks in the Eagle Ford, the San Antonio-based LEG has never been content to limit the geography of its oil and gas thrill-seeking. Those decisions would fall to its leader, Rod Lewis—coined by Forbes as the “only gringo allowed to drill in Mexico”—who became the first U.S. producer to sign a contract with PEMEX in 2004. And more (ad)ventures lay ahead to include natural gas operations off the coast of Colombia and now Lewis’s latest cold plunge into politically-turmoiled Venezuela with a PDVSA deal to rehab five oilfields in decline—two of which currently produce 3 MBPD. The Biden administration on April 17 ended a sanctions waiver on Venezuelan oil. Lewis and his latest mission to build Latin America’s next energy platform are equally fascinating. Born in the border town of Laredo, Lewis launched his company in 1983 with a single gas well in South Texas and a hellbent ethos to control his own destiny. Over 35 years, he’s proved a quintuple threat stateside with the whole wellhead-to-market enchilada that includes a fleet of drilling rigs, oilfield services, saltwater disposal, end-to-end midstream services, and commodity marketing. Lewis also happens to own the nation’s largest collection of air-worthy WWII fighter planes. What do you think? Learn more about REC and our natural gas and midstream consulting services at https://lnkd.in/ebXT2mS. #entrepreneurship #energy #integration #oilandgas #reeseenergyconsulting

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Looks like even with the Matterhorn open, the pipeline we were told would fix the pricing problem at Waha, the pricing problem remains. There are a few points in this article I also disagree with. "Now, what this will likely do is spur on more natural gas production in the Permian – potentially oil production, too, because oil has also been under the effects of this excess natural gas in the region, because there’s a limit to how much natural gas can be flared." Ha! A limit to how much natural gas can be flared? In Texas. I don't think so. About those Permian gas prices: "With the production, the price in Permian – the Waha – there is negative. And so we are going to see a gradual increase, but nothing too crazy, because it’s just really relieving this bottleneck more than anything else." A gradual increase from negative pricing means they will still vent and flare the methane instead of paying to have it taken away. And the last point is if someone says this, when they are talking about energy markets in TX, they clearly don't understand the current energy market or are lying. "So going forward, demand continues to grow in Texas. There’s a lot of solar capacity being added, but to meet this higher demand, you’re going to need natural gas to continue to be that base load fuel – the most reliable one, whether the sun may not be shining or the wind isn’t blowing." Solar, wind plus storage is a money maker in TX. Storage is the fossil fuel killer. Now if we want to talk about energy being unreliable due to weather, have you heard about how nat gas does in extreme heat or cold? Not great. In summary, there is a new pipeline in TX. It will not make gas production profitable. So they will continue to dump that gas (methane) into the atmosphere. https://lnkd.in/e5ayEMEd

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How did an operator enhance well construction consistency? >> https://lnkd.in/gh3UzYrh By combining human expertise with AI predictive analytics, the Halliburton LOGIX® automation and remote operations platform helped develop three well trajectories. Collaboration with the operator resulted in a 33% increase in the rate of penetration (ROP) and a 15 to 45% faster casing and liner run speed, demonstrating an improved trajectory accuracy and operational efficiency.

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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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🎙️ Excited to share that I recently joined Grayson Brulte on The Road to Autonomy® podcast! We had an insightful discussion about key political and economic events impacting the oil markets, including the upcoming U.S. Presidential election, FED rate decisions, and geopolitical factors. We also delved into Texas' significant contribution to oil production and exports, the global demand for oil and natural gas, and the economic impact on Texas' economy. Tune in to hear our thoughts on how these factors could affect consumers and shape the future of the oil and gas industry! #RoadToAutonomy #OilAndGas #Economy #Podcast #EnergyMarkets #Texas #OilProduction #TXOGA

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Reunited and It Feels So Good for TXO Energy New basin entries by oil and gas producers seem to be having a moment right now. Stories always compelling to explore—especially if their core assets happen to lie primarily in the almighty Permian or aren’t the result of an acquisition inheritance. Reese Energy Consulting today is following the latest leap outside the Perm by Midland and Delaware players betting more than a buck or two on fresh territory and inventory to expand their portfolios. We shared last week Denver-based SM Energy Company’s $2.55 billion deal with XCL Resources and a big howdy into the Uinta Basin that came as somewhat of a surprise for most folks. Now, Fort Worth-based TXO Partners, which operates a combined 371,000 net acres in the Texas and N.M., Permian and San Juan, has hopscotched into the Williston with two acquisitions valued at $300 million. But it’s not exactly their first rodeo there. The company, which went public last year, is led by CEO Bob Simpson—shale veteran and former CEO of XTO Energy who built a Bakken powerhouse before selling to ExxonMobil back in 2010 for $41 billion and finding a comfortable nest in the nation’s most prolific basin. Still, an old friend has a way of wooing one back. Simpson’s return to the Williston with TXO includes acquisitions of Eagle Mountain Energy Partners and an undisclosed seller with assets in N.D., and Montana. They add 4.5 MBOED in production and proved developed reserves of 17 MMBOE. TXO in 1Q announced sales volumes of 22 MBOED. Some past romances are hard to forget. What do you think? Learn more about REC and our oil and gas consulting services in the Permian and Williston at https://lnkd.in/ebXT2mS and our natural gas online training courses at https://lnkd.in/g_jDyx_Y. #energy #upstream #oilandgas #mergers #acquisitions #reeseenergyconsulting

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