Maynard Holt

𝙏𝙚𝙭𝙖𝙨 𝙎𝙩𝙚𝙥𝙨 𝙐𝙥 𝙉𝙖𝙩𝙪𝙧𝙖𝙡 𝙂𝙖𝙨 𝙋𝙤𝙬𝙚𝙧 𝙋𝙡𝙖𝙣𝙩 𝘿𝙚𝙫𝙚𝙡𝙤𝙥𝙢𝙚𝙣𝙩 In response to the heightened demand for reliable energy, Texas is significantly ramping up its infrastructure with a strong push toward natural gas power plants. Fueled by a $10 billion Texas Energy Fund initiative, developers are proposing over 55 gigawatts of new capacity, potentially doubling the state’s existing gas-fired resources. Municipalities and educational institutions are actively participating, with places like Sugar Land and Texas A&M offering lands for these strategic developments. These efforts are bolstered by industry giants forming the Powering Texans group, aiming to add thousands of megawatts to the grid, addressing the surge from data centers and other heavy electricity consumers. As Texas grows, so does its energy strategy, balancing increased gas power with rising investments in solar and battery storage. This dynamic shift highlights Texas' multifaceted approach to meeting future energy demands while also stirring debates on environmental impacts. #EnergyDevelopment #TexasPower #NaturalGas #ERCOT #SustainableEnergy #BusinessDevelopment https://lnkd.in/gfkZdub3

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Oil majors have to manage sections of their shareholder roster that would balk at any deal that increases upstream production. Smaller exploration and production companies also are in the mood to sell, rather than buy. Witness, for instance, Energean itself. It has chosen to unlock value for non-core assets, which it in turn picked up cheaply. Instead it will focus on its big Israeli project, return $200mn to shareholders, and amass some firepower for its next big venture.

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DT Midstream has entered into a definitive agreement to acquire three FERC-regulated interstate natural gas pipelines from ONEOK for $1.2 billion. The pipelines involved are the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, which collectively span approximately 1,300 miles and have a total capacity exceeding 3.7 billion cubic feet per day. This strategic acquisition aligns with DT Midstream's focus on expanding its natural gas infrastructure and is expected to enhance its pipeline segment's scale and revenue. The transaction is anticipated to close by the end of 2024, subject to customary regulatory approvals. For ONEOK, this sale is part of a broader strategy to optimize its asset portfolio and concentrate on its integrated operating footprint. Recently, ONEOK completed the acquisition of Medallion Midstream, a significant crude oil gathering and transportation system in the Permian Basin, for approximately $2.6 billion. These developments reflect ongoing consolidation and strategic realignment within the midstream energy sector, as companies seek to enhance operational efficiencies and focus on core assets.

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A new rule from the Federal Energy Regulatory Commission is paving the way for long-term transmission planning. By expanding market and grid access, this rule will accelerate the integration of clean energy resources like offshore wind across the country. Learn more: https://bit.ly/3R4aBdH #offshorewind #cleanenergy #renewableenergy

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𝙏𝙚𝙭𝙖𝙨 𝘼𝙙𝙫𝙖𝙣𝙘𝙚𝙨 𝙀𝙣𝙚𝙧𝙜𝙮 𝙎𝙚𝙘𝙪𝙧𝙞𝙩𝙮 𝙬𝙞𝙩𝙝 $10 𝘽𝙞𝙡𝙡𝙞𝙤𝙣 𝙀𝙣𝙚𝙧𝙜𝙮 𝙁𝙪𝙣𝙙 The Public Utility Commission of Texas has finalized regulations for the Texas Energy Fund, a $10 billion initiative designed to promote the development of new natural gas power plants. This move aims to bolster on-demand electricity generation capacity in response to the state's rapidly increasing energy demands, projected to nearly double by 2030. Under the new rules, projects completed before June 1, 2026, are eligible for a reimbursement of approximately 10% of construction costs, with a slightly lower rate of 6.7% for projects completed by June 1, 2029. The program also includes government-backed, low-interest loans to further incentivize investment, with major developers like NRG Energy, Vistra Corp., and Calpine indicating their participation. This strategic policy shift underscores Texas’ commitment to ensuring a reliable energy supply while balancing its growing reliance on renewable resources. The fund, however, has sparked debate regarding its focus on fossil fuels and the exclusion of solar and wind projects, highlighting the ongoing discussion about the best path forward for energy policy in Texas. #EnergyPolicy #NaturalGas #RenewableEnergy #Texas #PublicUtilityCommission https://lnkd.in/gDwZNq4t

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U.S. and Canadian C-corps in the midstream sector performed well in August, with U.S. C-corps up an average of 4.6%. ONEOK, Inc. (OKE) rallied following the announcement that it will acquire Global Infrastructures Partners’ interest in EnLink Midstream (ENLC.N). Consolidation continues to be a major theme in the energy sector this year, shares SVP Parag Sanghani. Watch our September Energy Update for more insight: https://lnkd.in/gWgFMqDy. #Midstream #Mergers #EnergyInvesting

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Houston-based CO2 Energy Transition Corp., a SPAC focused on carbon capture, utilization, and storage (CCUS), raised $69 million in its IPO to target mid-sized CCUS companies. https://lnkd.in/gqHQZjZJ

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Given the current global landscape and the geopolitical risks that exist today, we believe Occidental Petroleum (Ticker: OXY) is a compelling investment opportunity. “Investors seem to be somewhat ignoring energy right now,” said Brian Krawez, CFA, president and lead portfolio manager at Scharf Investments during an appearance on Reuters TV on December 10, 2024. Brian shared that OXY is highly levered to U.S. oil production and has roughly 80% of its energy reserves in the U.S. This is a reasonably priced stock, and we believe OXY could benefit from the incoming Trump administration’s plans to reduce regulations around drilling. Thanks Reuters TV for a great conversation. https://lnkd.in/gcDrqEXN Discussions in the link above include forward-looking assumptions and opinions by Scharf Investments and there is no guarantee that the recommendations will be profitable. Investments include risk of loss. The securities identified and described do not represent all of the securities purchased, sold or recommended for client accounts. The viewer should not assume that an investment in the securities identified was or will be profitable. #activemanagement #valueinvesting #quality #geopoliticalrisk #energy #oxy

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Double Eagle Energy Holdings IV LLC is a notable example of maximizing ComboCurve's power--using it for A&D and reserves, as well as for running its budget. Stephanie (Currie) Ahmed says "ComboCurve, through every step of the reserves process, is more efficient than how we were doing things before.” Another highlight here? Using ComboCurve if your bank does not. For Double Eagle, the process of converting its ComboCurve database for reporting has become close to seamless according to Reservoir Engineering Analyst Caleigh Rickett. Read the full piece here: https://lnkd.in/eCyxF4WS

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Importance of Skilled Labor to Critical Minerals Establishing a robust domestic midstream for critical minerals is important, and something I'm often asked about. Recently, I published a paper on the topic for the Bipartisan Policy Center (linked below). A key factor to overcome, and one of the most cited by project owners, is the significant recruiting and retaining challenges due to severe labor shortages and intense competition for skilled workers. The U.S. industrial manufacturing sector, which had a shortfall of over 600,000 workers in 2023, is expected to see this gap widen to 2.1 million positions by 2030. This shortage directly impacts critical minerals projects that rely on similar skill sets, exacerbating the pressure on the industry. Critical minerals projects compete with semiconductor and battery manufacturing companies for skilled positions such as machinists, electricians, maintenance staff, equipment operators, and construction workers. Additionally, there is a notable shortage of individuals qualified for specialized roles essential for operational efficiency and quality control, including chemists, quality control analysts, and laboratory technicians. The talent pool is further strained by a 39% decline in mining engineering graduates since 2016, limiting the availability of essential professionals like mining engineers, metallurgists, and geologists. The construction sector, vital for building and maintaining critical minerals processing facilities, is also experiencing a severe labor shortage, with a deficit of 650,000 workers as of July 2023. This shortage impacts infrastructure development in regions where midstream operations are necessary, often requiring significant relocation efforts. To address these challenges, strategic investments in training programs, relocation incentives, supportive immigration policies, and advanced manufacturing technologies are essential. By establishing industry-specific training initiatives and partnering with educational institutions, the sector can develop a pipeline of skilled labor but it will take time a forward-thinking. We must grow the potential pool of interested professionals, with efforts like Project MFG. The topic of skilled labor is one I intend to evaluate deeper to consider what must be done to establish these projects successfully while growing the quality of life for American workers. Link to my recent report: https://lnkd.in/gSy7WSau

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Vitesse Energy, LLC to Buy Bakken Pureplay Lucero in $220MM Deal Vitesse Energy will acquire Lucero Energy Corp.’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions. Read the full story: https://lnkd.in/gpvguvxb

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Another day, another M&A announcement -- what does it mean for ComboCurve users? "As majors continue the consolidation trend and double down on their core acreage, they'll continue to shed anything they deem as "non-core," presenting unique opportunities for smaller players. We will continue to see these smaller players shine as they move more quickly on growing their acreage positions. And as for ComboCurve users, they have the tools they will require when the need to be competitive and stay agile is at an all-time high as M&A is not slowing down," says VP of Customer Experience Allyson Kidwell, PMP, CSM. How are you seeing the effects of M&A's? Weigh in in the comments! https://lnkd.in/gWFD9c9U

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The Dallas Fed Energy Survey reveals industry expectations for WTI crude prices, with a 2025 average forecast of $71.13 per barrel. 📈 From shifting politics to production challenges, the energy landscape keeps evolving. While the industry navigates fluctuating costs and international politics, resilience and adaptability remain key. 🌍 Read more: https://lnkd.in/gR4PvTCR #OilAndGas #EnergyForecast #WTICrude #DallasFed #IndustryInsights

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Energy Transfer LP announced that it has reached a positive final investment decision (FID) for the construction of an intrastate natural gas pipeline connecting Permian Basin production to premier markets and trading hubs. Read the full story here: https://lnkd.in/gHf73Hbw #BICMagazine #Pipeline #Permian

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 🔮 TXOGA’s Quarterly Energy Economics Outlook: Q4 2024 TXOGA’s Quarterly Energy Economics Review for Q4 2024 is live, along with my latest article, “Texas Anchoring Energy and Economic Stability in 2025 and Beyond,” which explores trends shaping the year ahead. Highlights 🔹 Solid economic growth. The economic growth outlook remains optimistic, suggesting that consecutive annual global records for oil and natural gas demand are likely in 2025 and 2026, even if growth falls short of official projections. 🔹 Oil supply remains strong, with the U.S.—led by Texas and the Permian Basin—leading. Additionally, several non-OPEC conventional projects appear poised to add supply in 2025 and 2026. OPEC+ policy could therefore be consequential. 🔹 Productivity gains. Drilling, completion, and automation innovations have continued to increase rig productivity, which has improved resource recoveries, driven efficiency, and reduced costs. 🔹 Geopolitical, trade and policy risks loom. A historically strong U.S. dollar coupled with proposed tariffs on BRICS nations and Mexico raise challenges and opportunities, particularly for Texas’ energy, plastics, and manufacturing sectors. Why It Matters Texas accounts for over 43% U.S. crude oil production and 29% of natural gas output. Continued output growth and innovation support the U.S. economy and global markets. However, if economic competition among major economies intensifies and global trade policies markedly shift, Texas’ cross-border supply chains and export competitiveness face uncertainties that could impact consumers and the future path of domestic industry investments. Looking Ahead Entering 2025, policy developments intended to protect domestic industries must also safeguard the long-term competitiveness of the energy and manufacturing sectors. This will require continued energy innovation, global collaboration, and cogent policy support for the industries that power our economy. For further insights, please see TXOGA’s Q4 Energy Economics Perspective and Outlook presentation: https://lnkd.in/eS5sqZqv #EnergyEconomics #Innovation #Productivity #NaturalGas #CrudeOil

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𝙀𝙭𝙭𝙤𝙣 𝙈𝙤𝙗𝙞𝙡 𝙎𝙚𝙩 𝙩𝙤 𝙎𝙚𝙘𝙪𝙧𝙚 𝙁𝙏𝘾 𝘼𝙥𝙥𝙧𝙤𝙫𝙖𝙡 𝙛𝙤𝙧 𝙋𝙞𝙤𝙣𝙚𝙚𝙧 𝙉𝙖𝙩𝙪𝙧𝙖𝙡 𝙍𝙚𝙨𝙤𝙪𝙧𝙘𝙚𝙨 𝘼𝙘𝙦𝙪𝙞𝙨𝙞𝙩𝙞𝙤𝙣 ExxonMobil's impending $60 billion acquisition of Pioneer Natural Resources Company, making it the largest oil and gas producer in the Permian Basin, is expected to receive approval from the U.S. Federal Trade Commission (FTC). The approval comes with the condition that Pioneer’s co-founder, Scott Sheffield, will not join Exxon's board due to concerns about his previous attempts to influence oil pricing and output. The decision, likely announced soon, follows scrutiny over Sheffield's advocacy for Texas oil production caps and his indirect involvement in a lawsuit alleging collusion with OPEC. Despite this, Exxon aims to boost its production in the Permian Basin significantly, from 600,000 barrels last year to about 2 million by 2027. This deal is part of a broader industry consolidation that the FTC is monitoring closely, especially under the leadership of Lina Khan and amidst political pressures related to energy prices and environmental impacts. Exxon plans to reduce Pioneer's emissions to net zero by 2035, enhancing its sustainability commitments. https://lnkd.in/gVWKJ7CD

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EnCap Energy Transition, a Houston-based firm, closed its second fund at $1.5 billion. The fund, known as EETF II, is dedicated to investing in solutions for decarbonizing the power industry and supporting low carbon fuels and carbon management. The company has made investment commitments to five portfolio companies through EETF II, aiming to support renewable energy projects that struggle to attract traditional financing. EnCap Energy Transition's Managing Partners Jim Hughes and Jason DeLorenzo express pride in their sizeable capital pool dedicated to decarbonization. They've attracted both existing and new investors, domestically and internationally, totalling approximately $2.7 billion in capital commitments. #EnergyTransition #Decarbonization #RenewableEnergy #Investment #LowCarbon #PowerIndustry #CapitalFunding #ClimateAction #Sustainability #CleanEnergy #GreenInvesting #Houston #EnCapEnergy

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