Operation Bullseye

Operation Bullseye

ESG plans throughout the nation’s oil and gas industry continue to make headlines these days, and while the end goal is the same—net zero greenhouse emissions by 2050—the journey to get there has many different roadmaps. Reese Energy Consulting today is following the latest ESG report from Houston-based EagleClaw Midstream, the largest gathering and processing operator in the Permian’s Delaware. EagleClaw expects to achieve single-digit reductions in its carbon emissions level by 2025 with a plan that includes converting its fleet to electric vehicles, expanding electric compression, investing in CCS technologies, and tying 20% of employee bonuses to the company’s annual ESG goals. Okla. City-based Devon also has announced emissions-reduction plans that sweep its operations in the Delaware, Eagle Ford, Anadarko, Powder River and Williston basins. Actions will include reducing and ultimately eliminating flaring by 2030, electrifying facilities, adding air-driven pneumatic controllers, and minimizing freshwater use. Bold moves ahead.

What do you think? How can REC help you along your energy transition journey? Contact us or learn more at www.ReeseEnergyConsulting.com.

 

EagleClaw Midstream

EagleClaw Midstream is strategically located in the heart of the Delaware Basin in the Permian, one of the fastest growing areas for oil and gas development in the world. They provide the gathering, compression, processing, transportation and water management services required to bring natural gas, natural gas liquids and crude oil to market and are dedicated to providing the best service and netback for their customers.

www.eagleclawmidstream.com

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Weight Watchers

Weight Watchers

Houston-based Occidental Petroleum continues to shed pounds to reduce its debt load of $35.47 billion. Reese Energy Consulting today is following the latest news from Oxy, which now will sell 25,000 acres in the Permian’s southern Delaware to PE-backed Colgate Energy Partners for $508 million. This gives Midland, Texas-based Colgate about 83,000 net acres in the Delaware. The deal includes 10,000 BOEPD from about 360 wells but is a relative blip on Occidental’s Permian map. The company remains the largest producer there as well as in the DJ Basin and the country of Oman. Occidental in February announced a Q4 2020 loss of $731 million compared with a $1.3 billion loss in the same quarter 2019 following its $38 billion acquisition of Anadarko Petroleum. Oxy has since sold off many of its premium assets both domestic and international as it transitions to a future more weighted in global carbon capture and sequestration management. Watch for the company this year to offload another $2 billion to $3 billion in properties.

What do you think? Learn more about Reese Energy Consulting and our upstream, midstream, and downstream services at www.ReeseEnergyConsulting.com.

Occidental Petroleum Corporation

Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States, the Middle East, and Colombia as well as petrochemical manufacturing in the United States, Canada, and Chile. It is organized in Delaware and headquartered in Houston.

www.oxy.com

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Better Sweet Than Sour

Better Sweet Than Sour

If there’s one thing that continues to plague producers in the NW Delaware sub-basin, it’s the lack of infrastructure to treat pervasive sour gas. For years, producers have been challenged by extreme levels of H2S in gas streams, which has meant more flaring, shutting in wells, or shuttling rigs to other areas. But Houston-based newcomer Piñon Midstream has designed an inspired solution that performs double duty to permanently sequester 75,000 tons per year of H2S and 175,000 tons of CO2. Reese Energy Consulting today is following the latest news from Piñon, which now has launched construction of the Dark Horse Sour Gas Treating and Carbon Capture Facility in Lea County, N.M. Operations are expected in July. The project includes gathering and delivery pipelines, an amine treating plant capable of sweetening 85 MMCFD of sour gas, and a CCS capability that injects both H2S and CO2 18,000’ below the surface. The company also has purchased a second amine plant to be installed later this year, which will amp up treating capacity to 170 MMCFD.

Piñon Midstream

Piñon Midstream is building the first of its kind greenfield environmental sour gas infrastructure solution designed to handle the extreme sour gas in the northeastern Delaware Basin.

www.pinonmidstream.com

What do you think? Learn more about REC and our natural gas marketing services at www.ReeseEnergyConsulting.com.

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