Deepwater Connections

Deepwater Connections

Tulsa-based Williams will expand its natural gas gathering and processing systems serving the Gulf of Mexico. Reese Energy Consulting today is following the latest news from Williams, which has inked an export agreement with Houston-based Beacon Energy. The company will provide gathering and transmission services to Beacon’s Shenandoah development, about 160 miles off the coast of La. The agreement will include construction of a five-mile offshore lateral pipeline to extend from the Shenandoah platform through the Discovery infrastructure, which Williams co-owns with DCP Midstream. Discovery will transport, process, fractionate, and market the gas. Williams operates extensive and interconnected offshore and onshore infrastructure serving oil and gas production in the Gulf, including 2,800+ miles of oil and gas gathering and transmission pipe and two processing plants. The company also has ownership of two floating production platforms and multiple fixed leg utility platforms. Services from the new expansion are slated forr late 2024.

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

Williams Companies

The Williams Companies, Inc., is an American energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company, its common stock is a component of the S&P 500.

www.williams.com

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Shell Shock

Shell Shock

Following the landmark case brought by activist environ groups, Royal Dutch Shell appears to be in serious scramble mode. The E&P giant lost its battle in a Dutch courtroom May 26th when the presiding judge issued a hardline ruling for Shell to accelerate its C02 reduction plans and slash emissions by 2030 from 20% to 45%.  Reese Energy Consulting today is following the latest news from Shell, which now is “reviewing” (read: considering a sale of) its most coveted U.S. trophy. With 260,000 acres in the prolific Delaware, eight central production facilities, and 60 MBPD in production, Shell ranks as the largest operator in the Permian. The Permian also happens to represent the company’s core light tight oil assets valued at $10 billion, although accounts for only 6% of its total oil and gas output. Whether or not a sale lies ahead, the legal case precipitating Shell’s decision to exit could well set a precedent for a global oil and gas industry still getting back on its feet… and even the most aggressive carbon-reduction plans viewed as not good enough.

What do you think? Visit REC at www.ReeseEnergyConsulting.com to learn more about our midstream services.

Royal Dutch Shell

Royal Dutch Shell plc, commonly known as Shell, is a British-Dutch multinational oil and gas company headquartered in The Hague, Netherlands, and incorporated in the United Kingdom as a public limited company.

www.shell.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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