All Fired Up

All Fired Up

Mike Hopkins has powerful plans for N.D. The CEO of Bakken Midstream Natural Gas in Bismark is an accomplished entrepreneur, attorney, and business executive whose numerous successes read like a Who’s Who of industry captains. After developing 54 natural gas-fired power plants around the world, Hopkins now looks to apply his ingenuity in the Williston Basin—and he has $25 million to do it. Reese Energy Consulting today is following the latest news from Bakken Midstream, which has signed its first ethane supply term sheet to support a large-scale baseload power plant. Three years in planning, the proposed Williston Basin Energy Center will be the largest electrical plant of its kind to leverage advanced combustion turbine technology that uses ethane as the primary fuel. The company also plans to develop other “value-added” natural gas infrastructure projects in N.D., that harness the state’s plentiful gas resources, including power generation and pipelines.

Bakken Midstream

Bakken Midstream believes that the State has the potential to become a world-class leader in value-added natural gas related products. North Dakota has tremendous natural gas resources. What’s lacking is natural gas infrastructure, in particular infrastructure for value-added products. The mission of Bakken Midstream is to develop and own that infrastructure.

bakkenmidstream.com

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

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Shovel, Meet Dirt

Shovel, Meet Dirt

It’s about as rare as a unicorn these days to watch an oil and gas stock price zoom into the stratosphere, but that’s exactly what happened today in pre-market trading for Houston-based Summit Midstream. Reese Energy Consulting is following the latest news from Summit, which yesterday received a FERC thumbs up to begin construction on the Double E Pipeline and associated midstream facilities. That’s all it took to send the company’s stock soaring by a whopping 51.7% before this morning’s opening bell and settling back to a still impressive 29%. Upon completion in 4Q, the 135-mile Double E will transport 1.35 BCFD of natural gas from the Permian’s Delaware to delivery points near the Waha Hub. Summit owns a 70% operating interest in the pipeline along with ExxonMobil at 30%. The project’s most recent advancement follows a rather smooth-sailing process compared with other proposed pipelines that have either been delayed indefinitely or outright cancelled out of sheer exhaustion from endless court battles. Godspeed, Double E.

Summit Midstream

Headquartered in Houston, Texas, Summit Midstream Partners, LP (NYSE: SMLP) is a value-driven master limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in unconventional resource basins, primarily shale formations, in the continental United States.

www.summitmidstream.com

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

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Wyoming Preps for a Drilling Bonanza

Wyoming Preps for a Drilling Bonanza

Little more than six years ago, five independent E&Ps signed on to propose a drilling project in the Powder River Basin. But these were no ordinary producers and what they collectively proposed was no ordinary project. With the approaching dawn of a new Administration, E&Ps are scarfing up $10,000-apiece drilling permits on federal lands, especially in N.M., and Wyo., where the oil crash has seriously bruised the states’ economies. Then there’s The Magnificent Five whose Converse County Oil and Gas Project has received a final nod from the BLM to drill 5,000 wells over 10 years. EOG Resources, Occidental, Chesapeake, Northwoods Energy, and Devon each have a seat at the board of what will be one of the largest oil and gas projects in Wyo., history. Extending across 1.5 million acres, the venture will include 1,500 miles of gathering pipe, hundreds of miles of water pipeline, numerous roads, and power lines. More than 8,000 jobs are expected to be created along with $18-$28 billion in tax revenues.

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

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Jumpin’ Jack Flash…

Jumpin’ Jack Flash…

​Hang on to your hats in the gas-rich Haynesville. Reese Energy Consulting today is studying a sequence of events that foretell a nice fat bump for producers there through at least the first half of 2021. With a return to record-breaking LNG exports and record demand for feedstock, the shale play shows Moves like Jagger with production narrowing in on pre-COVID levels at more than 13.5 BCFD. Producers added 10 rigs in 4Q last year for a total of 46—a full fleet recovery in the only major U.S. basin to do so. A beehive of activity to expand much-needed pipeline capacity also is buzzing along with recent projects adding 1.75 BCFD of throughput. Two of those expansion projects helmed by Houston-based Midcoast Energy play a big part to relieve the area’s bottlenecks, and now a third is slated for completion before March. MidCoast’s CJ Express will add compression and pipeline facilities on the company’s 4,000-mile East Texas system, expanding Haynesville capacity by another 1 BCFD and offering producers connectivity to more Gulf Coast demand centers.

What do you think? Learn more about REC’s complete range of midstream services at www.ReeseEnergyConsulting.com.