Take Two

Like many oilfield suppliers hit especially hard the last few years, Texas-based BJ Services was forced to shutter its business last July joining 107 others in the industry to file for bankruptcy protection—the most since 2016. But BJ, which was acquired by Baker Hughes that same year for $5.5 billion, has been one of the luckier survivors among its peers. In less than two months, the company re-emerged as BJ Energy Solutions along with its first 40,000 hp TITAN hydraulic fracking fleet powered exclusively by natural gas. As more producers beef up their environmental performance, BJ may just have found perfect timing. Reese Energy Consulting today is following the latest news from BJ Energy, which now has exceeded a milestone 7,000 pump hours of its fleet in the Haynesville marking the first fleet there to use 100% natural gas. On the heels of that report, major Haynesville player Comstock Resources has signed a three-year deal with the oilfield supplier to deploy the TITAN fleet on its own drilling operations there starting early 2021. We never tire of a great comeback story.​

BJ Energy Solutions

Headquartered in The Woodlands, Texas, BJ Energy Solutions provides industry leading hydraulic fracturing solutions to upstream oil and gas companies engaged in the exploration and production of North American oil and natural gas resources. With almost 150 years of rich history in serving clients across North American oil and natural gas basins, BJ is committed to providing innovative technologies to supporting the sustainability and emission reductions.

www.bjenergy.com

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

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Right Place, Right Time

Right Place, Right Time

Back in July 2019, Texas-based Comstock Resources went all in on natural gas at a time when everyone else was courting crude. The company bet large on the Haynesville shale play with a $2.2 billion gamble that secured its place as the single largest operator there. Reese Energy Consulting today is following Comstock’s recently announced 4Q 2020 performance and outlook for 2021. But first, a quick rewind. With the acquisition of Covey Park Resources less than 2 years ago, Comstock operates 323,000 acres with 1.1 BCFPD in production, 2,000 net drilling locations, 7.6 TCF of proved reserves, 57 years of inventory, and 500 miles of gathering pipe in the nation’s second largest gas basin. And let’s not forget the Haynesville’s proximity to the Gulf Coast—now the epicenter of LNG export terminals. The company currently markets 2 BCFPD with another 1.2 BCFD in Swing Sales. With a large amount of undedicated acreage, Comstock can “time” those Swing Sales and benefit from spikes in spot prices like what we recently saw. Suffice it to say, this producer scored a serious windfall.

 

Comstock Resources

Comstock Resources is a leading independent natural gas producer with operations focused on the development of the Haynesville Shale in North Louisiana and East Texas.

www.comstockresources.com

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

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Energy Transfer Grows More Tentacles

Energy Transfer Grows More Tentacles

Texas and Okla., are back in the headlines this morning but it’s not the frigid weather lifting eyebrows this time. Reese Energy Consulting is following breaking news from Dallas-based pipeline behemoth Energy Transfer, which has announced it will acquire Okla. City-based Enable Midstream in an all-equity deal valued at 7.2 billion. The merger includes 14,000 miles of natural gas, crude, condensate and produced water gathering pipe; 15 major processing plants; 10,000 miles of intrastate and interstate natural gas pipelines; and 7 gas storage facilities across Okla., Texas, La., Mo., and into Ill. The combined company strengthens Energy Transfer’s already sizeable NGLs system with added gathering and processing assets in Okla.’s Anadarko Basin and connectivity to its Gulf Coast fractionation complex. Other perks include Enable’s gas gathering and processing assets in the Arkoma Basin across Okla., and Ark., and the Haynesville in La., and Texas. We now return you to your regular weather programming.

 

Energy Transfer

Energy Transfer is one of the largest and most diversified midstream energy companies in the country with approximately 90,000 miles of pipelines traversing 38 states transporting the oil and gas products that make our lives possible.

www.energytransfer.com

What do you think? Learn more about Reese Energy Consulting and our range of natural gas marketing and midstream services at www.ReeseEnergyConsulting.com.

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