Michael McKenna

Weatherford announces acquisition of DATAGRATION - Connecting Data | Powering Decisions - Weatherford International plc announced the acquisition of Datagration Solutions Inc. - Datagration is recognized for its innovations in unified data integration, analytics, and machine learning. - The acquisition enhances Weatherford's digital offerings for production and asset optimization. - It demonstrates Weatherford's commitment to innovation across its technology portfolio. - Integrating Weatherford's digital solutions with Datagration's data models creates a robust tool for surveillance and decision-making across the well lifecycle. - The merger improves synergy with Weatherford's existing platforms such as ForeSite, CygNet, and CENTRO. - It enhances operating efficiencies and allows for better emissions data integration and sustainability management. - Girish Saligram, President and CEO of Weatherford, highlighted that the acquisition will accelerate innovation in the energy sector. - The deal is expected to provide significant value to Weatherford's customers in the future. - Weatherford operates in approximately 75 countries with around 19,000 employees. https://lnkd.in/gFyhzhUS

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Energy Transfer Reaches FID on 2.2 Bcf/d Permian Pipeline Project Energy Transfer said the newly renamed Hugh Brinson Pipeline—formerly known as Warrior—will deliver Permian Basin gas to the Dallas/Fort Worth market and beyond. Read the full story: https://lnkd.in/ggCUfHqg

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‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ewhkGFa. For more info about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.  

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‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ewhkGFa. For more info about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.  

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🌟 Another PMD headed out from our Odessa shop, marks our continued growth in the Midland Basin 🌟 The Midland Basin continues to showcase its resilience and promise as a cornerstone of the oil and gas industry. Over the past year, we’ve seen steady growth in activity, pushing operators to innovate and deliver MPD at the highest levels. At the heart of this progress is the deployment of high-tier Managed Pressure Drilling equipment, enabling safer, more efficient, and cost-effective operations. However, this growth is not without its challenges. The demands of Midland’s unique geology and the increasing pace of operations require: ✔️ Top-tier equipment reliability under extreme conditions ✔️ Seamless integration of MPD systems ✔️ Skilled teams ready to adapt to operational complexities at the right time and from the ROC We’re proud to support this growth by delivering cutting-edge MPD solutions designed for the unique needs of the Permian Basin. As we continue to build on our successes, we remain committed to tackling challenges head-on and helping our clients achieve operational excellence. Here’s to sustained growth and innovation in Midland!

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Permian Resources Divests Delaware Basin Midstream Assets to Kinetik The deal includes approximately 60,000 gross operated acres dedicated by Permian Resources under long-term, fixed-fee agreements for natural gas gathering, compression and processing and crude oil gathering services, Kinetik said. Read the full story: https://lnkd.in/gG9QNsqh

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Wondering if what you've read about the Texas oil and natural gas industry is myth or fact? ✅ Clear things up and discover accurate, fact-checked information about the vital role our industry plays in powering modern life, creating jobs, and driving economic progress. 🏭 Myth: I can eliminate oil and natural gas from my everyday life. Fact: 96% of everyday essentials, from soap to electronics, are made possible by oil and natural gas. The industry fuels our economy, supports communities, and is strictly regulated at both state and federal levels to ensure safety and environmental protection. 🌍 Learn more about the real impact of Texas oil and natural gas and separate myth from fact: https://lnkd.in/eZui95-2 📖 #TexasEnergy #OilAndGasFacts #EnergyIndustry #MythBusters #ModernLife #EconomicImpact #RegulatedIndustry

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Diamondback Energy stands as a premier independent oil producer in the U.S., boasting prime Permian acreage across the #Midland, #Delaware, and #Central #Basin. Last year's production hit 263,000 bbl/d, with a projected 2024 full-year guidance of 275,000 bbl/d. February saw Diamondback's announcement of a $26 billion merger with Endeavor Energy Resources, LP, expanding their net #Permian acreage to 838,000 and potentially elevating combined production to 816,000 bbl/d. Don't miss this operator spotlight featuring Kaes Van't Hof, President and CFO of Diamondback Energy, where you'll gain insights on: • The Endeavor merger's strategic benefits from an insider's perspective. • Analysis of the merger's implications for Diamondback. • Diamondback's operational roadmap for 2024 and beyond. • Potential future M&A prospects. Register now to secure your spot! https://ow.ly/wjsF50R9uVa #SUPERDUG24

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With money being expensive, high ROI & IRR projects are in demand. Check out EAG's recent study on ReFracs in the Haynesville.

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West Texas Oil & Gas Insights: December Edition Welcome to our monthly series, where we provide updates and insights on the oil and gas industry in West Texas. The Permian and Delaware Basins continue to be pivotal in U.S. energy production, and TAZ Well Service is proud to contribute to this dynamic sector. Global Oil Demand Trends: According to the International Energy Agency's (IEA), global oil demand is projected to increase by 920,000 barrels per day (b/d) this year, reaching 102.8 million b/d. In 2025, demand is expected to grow by just under 1 million b/d, totaling 103.8 million b/d. This deceleration compared to previous years is attributed to the conclusion of post-pandemic demand surges and the adoption of clean energy technologies. Regional Production Insights: The IEA forecasts that by 2025, global oil supply will surpass demand by over 1 million b/d, even if OPEC+ maintains current production cuts. This surplus is largely due to increased output from non-OPEC+ countries, including the United States, Canada, Guyana, and Argentina. The U.S. is anticipated to lead this growth, with significant contributions from the Permian Basin. Local Industry Dynamics: In West Texas, the Permian Basin remains a cornerstone of U.S. oil production. However, the region faces challenges such as fluctuating oil prices and labor shortages. Operators are addressing these issues by implementing innovative solutions to enhance efficiency and reduce downtime. At TAZ Well Service, we have observed a growing demand for services like drillouts, cleanouts, and pump downs, as operators strive to optimize horizontal well operations. Safety and Sustainability: The emphasis on safety and sustainability continues to intensify. Companies in the Permian and Delaware Basins are actively working to minimize environmental impacts while ensuring the safety of their workforce. At TAZ Well Service, safety is integral to our operations. Our Cat-4 certified rigs and well-trained teams adhere to the highest industry standards, enabling us to deliver efficient and reliable services. Looking Ahead: As we approach the end of 2024, the outlook for West Texas's oil and gas sector remains positive. Operators are preparing for a robust finish to the year, with a focus on digital tools and data-driven decision-making to drive future growth. TAZ Well Service is committed to supporting our clients with best-in-class equipment, innovative solutions, and an unwavering dedication to excellence. Stay tuned for next month’s insights, where we will explore new developments and share updates from the field. If you have questions or topics you’d like us to cover, please leave a comment below—we’d love to hear from you! #WestTexas #OilAndGas #TAZWellService #EnergyInnovation #PermianBasin

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About a week from now Spears & Associates will start sending out our quarterly reports on a couple dozen oilfield service and equipment markets. Cementing is my responsibility (I was once upon a time a moderately skilled cementer for Halliburton in what is today called the SCOOP/STACK). This particular report will show that the two US Land market leaders - HAL & SLB - focus on the largest, most active E&P companies...a fact that we all know, but here's the math: 15 E&P companies represent HALF the spending on cementing services this year (EOG, Exxon, Chevron...). Of these top 15 customers, HAL + SLB win 70% of their cementing work. Of the next 1000 customers HAL + SLB win 45%. As the top end of the E&P world consolidates, SLB + HAL cementers will benefit. PS: Each cementing service company has excellent cementers and engineers and we think that most cementing service companies have the people and the equipment to cement the toughest of horizontal wells. The differentiation is this: SLB and HAL are particularly good at working inside the major oil companies' operations and procurement groups.

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ONEOK is buying a set of NGL pipelines for $280 million. The announcement says a lot about contemporary oil & gas strategy. Let’s start with the corporate speak: ====== "This strategic acquisition provides the quickest pipeline connectivity to and within the critical supply and demand centers for our NGLs, refined products and crude oil assets in the Gulf Coast," said Pierce H. Norton II, ONEOK president and chief executive officer. ====== The word “quickest” is incredibly important here. As I’ve remarked before, today’s oil & gas industry is all about time to value. Investors have no patience for future windfalls. The future is way too uncertain. They want to see value today, and often that value is from increased cash flows, a fraction of which go directly to shareholders. You can compare this path – buying existing assets – with the alternative of building your own new pipeline system. Building new systems can be expensive, slow (because of permitting and just general construction limitations), and risky. It’s much easier to buy something in place and integrate it in short order. That’s what ONEOK is committing to do. Another critically important part of the above quote is the mention of the Gulf Coast. Again, with uncertainty at unprecedented levels across the oil & gas landscape, investors prefer a geographical concentration in the most resilient areas of supply and demand. The Gulf Coast certainly qualifies. The Gulf Coast has existing infrastructure, access to land- and water-based distribution networks, and operational efficiencies that will allow it to remain competitive far longer than other, less favorable marketplaces. What then did we learn about contemporary oil & gas strategy from this ONEOK announcement? ➊ Moderate, tangible value today is worth much more than potentially larger, more speculative value in the future. ➋ The Gulf Coast should be one of the last regions to become stranded as decarbonization momentum builds. Investment there is preferred. ONEOK’s move here is showing us why “consolidation” is the name of the game in oil & gas today. #energy #oilandgas #ksg 𝘗.𝘚. 𝘈𝘵 𝘒𝘚𝘎, 𝘐 𝘩𝘦𝘭𝘱 𝘦𝘯𝘦𝘳𝘨𝘺 𝘢𝘯𝘥 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘪𝘢𝘭 𝘭𝘦𝘢𝘥𝘦𝘳𝘴 𝘯𝘢𝘷𝘪𝘨𝘢𝘵𝘦 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘮𝘢𝘳𝘬𝘦𝘵𝘴 𝘢𝘯𝘥 𝘦𝘮𝘱𝘰𝘸𝘦𝘳 𝘵𝘩𝘦𝘮 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘵𝘰𝘰𝘭𝘴 𝘢𝘯𝘥 𝘪𝘯𝘴𝘪𝘨𝘩𝘵𝘴 𝘵𝘩𝘦𝘺 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘣𝘶𝘪𝘭𝘥 𝘵𝘩𝘳𝘪𝘷𝘪𝘯𝘨 𝘢𝘯𝘥 𝘳𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘵 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴. 𝘐𝘧 𝘺𝘰𝘶 𝘩𝘢𝘷𝘦 𝘯𝘦𝘦𝘥𝘴 𝘢𝘳𝘰𝘶𝘯𝘥 𝘮𝘢𝘳𝘬𝘦𝘵 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩, 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 & 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘢𝘯𝘢𝘭𝘺𝘴𝘪𝘴, 𝘰𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘤𝘶𝘮𝘦𝘯 𝘵𝘳𝘢𝘪𝘯𝘪𝘯𝘨 & 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵, 𝘴𝘦𝘯𝘥 𝘮𝘦 𝘢 𝘯𝘰𝘵𝘦. 𝘐’𝘥 𝘭𝘰𝘷𝘦 𝘵𝘰 𝘥𝘪𝘴𝘤𝘶𝘴𝘴 𝘪𝘧 𝘪𝘵 𝘮𝘢𝘬𝘦𝘴 𝘴𝘦𝘯𝘴𝘦 𝘧𝘰𝘳 𝘶𝘴 𝘵𝘰 𝘤𝘰𝘭𝘭𝘢𝘣𝘰𝘳𝘢𝘵𝘦. https://lnkd.in/gtSQCFvt

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What do you think it takes to run a successful oilfield business in West Texas? When we made our full length documentary to commemorate BP Supply's 40 Years in business, our CEO, Chris Parnell, was asked what it takes to be successful in this industry in West Texas. This was his reply. You can watch the full length documentary on our website on the About Us page. So what do you think it takes? #energyindustry #permianbasin #oilfield #business

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Two Houston-based companies, Halliburton Energy Services and Coterra Energy, said this week they launched autonomous hydraulic fracturing technology with the Octiv Auto Frac service, part of the Zeus platform. https://ow.ly/ekm650UExey

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What if you had the most accurate upstream pricing data in Texas at your fingertips? Imagine what you could do with unparalleled insight into every oil and gas transaction in Texas with Barrel Hub. You receive real-time data on volume, gravity, lease name, purchaser, producer, and exact price paid. You could increase your revenue by 15% in just one month, like one of our clients who used our data to renegotiate contracts. Are you ready to revolutionize your approach to the market? Sign up for Barrel Hub now, and you'll start winning with better data.

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We're thrilled to share that ClearBakk, represented by Les Johnson, will be attending the upcoming SPE Improved Oil Recovery Conference from April 23-25 in Tulsa, Oklahoma. Hosted by the Society of Petroleum Engineers, this conference is a pivotal gathering for industry leaders and innovators, providing insights into the latest advancements and challenges in the Improved Oil Recovery (IOR) sector. We at ClearBakk are always looking for opportunities to learn and improve. and we're eagerly looking forward to engaging with experts and thought leaders to explore the latest developments, particularly in the enhanced chemical oil recovery (cEOR) sector. Some of the key topics of interest include how companies are overcoming the challenges with surface equipment design, selection, and operations essential to moving from lab to pilot and pilot to commercial field development. We're eager to delve into discussions on the critical considerations involved in these processes. IOR doesn't start (and end) down hole... What are your surface equipment and process needs? With a dynamic agenda featuring insightful topics and discussions, we're excited about the opportunities to gain valuable knowledge, forge meaningful connections, and contribute to the advancement of the industry. Stay tuned as we share highlights and key takeaways from the conference! If you're attending, we'd love to connect and exchange ideas. See you there!  #enhancedoilrecovery #ceor #eor #improvedoilrecovery #ior www.clearbakk.com [email protected] 403-295-8054

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Missed the Texas Integrity Acid Solutions LLC episode of the @Oil and Gas Start Up Podcast? Our CEO and Managing Partner at Texas Integrity Acid Solutions LLC, Britton Siegert, sat down with the team at Digital Wildcatters to discuss his journey of launching his groundbreaking technology in an industry that often finds it challenging to embrace change. He shared the challenges faced when introducing the Acid Cannon to the market and how critical it is to have a clear vision and be prepared when opportunity knocks. Whether you're a startup or an established business, his insights on navigating a dated industry with innovation are invaluable. 🎙️LINK: https://lnkd.in/e-NX_pkw Catch the episode to hear about the vision behind Texas Integrity, the hurdles we’ve overcome, and how we’re continuing to push the boundaries in the completion process. #TexasIntegrity #OilAndGas #AcidCannon #Innovation #Podcast #ChallengesAndOpportunities #IndustryVision

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Have you ever struggled with forecasting young PDP wells? Geology, completions design, and well spacing are critical predictors for well performance, and by incorporating them into early-time forecasting, you can dramatically improve accuracy. Here, I'm showing results from our PDP forecasting models on younger wells from the Permian, Williston, and Appalachia. These models use machine learning to directly forecast declines, incorporating not just prior production but also geology, completions, spacing, parent-child, etc. This data is especially useful for younger wells, where the production data may be too noisy or non-hyperbolic to get a good fit using a traditional Arps curve. This is especially the case with public data sources! Across these three basins, our machine learning PDP forecasts improve accuracy by 32%, 46%, and 29% on the primary production stream, compared with a traditional DCA methodology. Why does this matter? Newer wells (<1.5 years old) make up about half of production in the L48, though it's even higher for some basins and assets. Poor forecasts on young wells leads to incorrect valuations, inaccurate supply models, and bad type curves. Our operator customers have been using these models for over three years now to improve their forecast accuracy, but we have recently released these forecasts as a live, auto-updating data product for our subscribers. At URTeC in two weeks, we are diving deeper into this technology as applied in the Permian Basin. Thanks to lead author Kiran Sathaye for his insightful work in this study. For more information, head to our URTeC page (link in the image). #oilgas #permian #urtec

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ConocoPhillips completes acquisition of Marathon Oil Corporation To view article please click here: https://hubs.ly/Q02Z9B3X0 Does your company have news to share with the industry? Please contact: [email protected] and we will be happy to assist. #storageterminalsmagazine #tankstorage #oil #chemicals #gas #tankterminals #bulkliquids #tanks #storagetanks #storageterminals #liquids #storageterminalsmag #news

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