Oil and Gas Investor Magazine - April 2023
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BUILDING BRIDGES
New Enbridge CEO Greg Ebel talks about making connections across the continent and around the globe in The OGInterview.
CEO PREDICTIONS: TIGHTER OIL MARKET IN 2023, PERMIAN ‘PLATEAU’ THIS DECADE
Hess Corp. CEO John Hess says investment in oil and gas and clean energy hasn’t kept up with growing demand, while ConocoPhillips CEO Ryan Lance says the Permian will probably plateau later this decade.
INVESTOR PROFILE: BRAD THIELEMANN, ENCAP INVESTMENTS
EnCap’s Brad Thielemann considers the role of private equity in traditional oil and gas investing as well as its trajectory for financing the transition ahead.
CHESAPEAKE LNG DEAL MOVES ITS HAYNESVILLE GAS CLOSER TO GLOBAL PRICE
In an LNG deal, up to 100 Bcf/year of the operator’s Haynesville production will be indexed to the Japan Korea Marker.
TRINIDAD’S ENERGY MINISTER TALKS GAS PRODUCTION, VENEZUELA AND ATLANTIC LNG
Trinidad and Tobago Minister of Energy Stuart Young discusses gas production and bid rounds, as well as capturing flared gas and the restructuring of Atlantic LNG.
OFFSHORE PRODUCERS MAKE THE MOST OF EXISTING ASSETS
Subsea tiebacks give oil and gas companies the opportunity to reach their net zero targets using existing infrastructure and innovative technology.
MERGE CEO TALKS EVS, TAX CREDITS AND SELLING IN MIDLAND, TEXAS
Merge Electric Fleet Solutions CEO Glen Stancil discusses the electric vehicle industry and the opportunities and challenges to gaining traction in one of the world’s oil capitals: Midland, Texas.
Cover Story
Beyond the Pipe: CEO Greg Ebel on Enbridge’s Strategy for M&A, LNG and Transition
New Enbridge CEO Greg Ebel’s is expanding the "FedEx" of midstream across North America and around the globe through M&A, LNG investments and carbon capture.
Feature
CEO Predictions: Tighter Oil Market in 2023, Permian ‘Plateau’ this Decade
Hess Corp. CEO John Hess said investment in oil and gas and clean energy hasn’t kept up with growing demand, while ConocoPhillips Chairman and CEO Ryan Lance says the Permian will probably plateau later this decade.
Chesapeake LNG Deal Moves Its Haynesville Gas Closer to Global Price
In an LNG deal, up to 100 Bcf/year of the operator’s Haynesville production will be indexed to the Japan Korea Marker.
Q&A: EnCap’s Thielemann: Private Equity ‘Survivors’ Poised to Thrive
EnCap private equity veteran Brad Thielemann discusses the role of private equity in traditional oil and gas investing — including the need to ramp up investments to meet demand — as well as its trajectory for financing the transitions ahead.
Q&A: Merge CEO Glen Stancil on EVs, Tax Credits and Selling in Midland, Texas
Glen Stancil, president and CEO of Merge Electric Fleet Solutions, discusses the electric vehicle industry and opportunities, as well as challenges to Merge’s business model gaining traction in one of the world's oil capitals: Midland, Texas.
Q&A: Trinidad’s Energy Minister Young Talks Gas Production, Venezuela and Atlantic LNG
Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young spoke with Hart Energy at CERAWeek by S&P Global to discuss gas production and bid rounds, as well as capturing flared gas and the restructuring of Atlantic LNG.
Subsea Tieback Round-Up for 2022-2024
Here's a round-up of subsea tiebacks projects across the globe. The first in a two-part series, this list is a look at some of the subsea tiebacks scheduled to be online by 2024.
Why Investing in Clean and Efficient Energy Production is a Boon for Oil and Gas
U.S. energy demand is increasing as rising inflation and geopolitical turmoil demonstrate the importance of diversified and domestic business investments and prioritizing long term and short term sustainability goals.
At Closing
By Hook, Crook and Bolt-on, E&Ps Scramble to Add Inventory
Operators are adding inventory, largely through M&A, as some E&Ps see well productivity plateauing.
From the Editor-in-Chief
Commentary: Banking ‘Contagion’ Infects Global Oil Markets
Oil prices and E&P stocks plummet as banks fail and the Fed grasps for stability, with one expert saying, "people are afraid."
International Highlights
Can Governments, Oil and Gas Players, Be Permitted to Get Along?
Governmental measures at the start of the Ukraine war to stabilize oil and gas markets did not ease distrust from the industry.
Europe Won’t Be Dependent on Russian Oil and Gas Again, Official Says
The invasion of Ukraine convinced Europe to shift away from Russian oil and gas, energy official says at CERAWeek.
OPEC Chief: EU’s Severing Dependence on Russia is ‘Typical’ Market Redirection
As worldwide oil and gas flows have been altered due to Russia’s invasion of Ukraine, OPEC Secretary General Haitham Al Ghais said a slowdown in the U.S and Europe “concerns us more.”
Q&A: Ecopetrol’s Felipe Bayon Talks About the Permian, Colombian Gas
Felipe Bayon, the CEO of Colombia’s state-owned Ecopetrol, spoke with Hart Energy at CERAWeek by S&P Global to discuss advances in the Permian Basin with Occidental Petroleum and progress offshore Colombia with Petrobras and Shell Colombia, while touting Colombia’s offshore gas potential.
The Russia-Ukraine War and Energy Sector Certain Uncertainties
Putin’s invasion of Ukraine has reminded the world that renewables, while gaining momentum, still have a way to go and fossil fuels will remain in demand for decades to come.
Ukraine War’s Lesson: Energy Security Begins at Home
A year after Russia’s invasion of Ukraine, the importance of energy security remains a key lesson, expert says.
MidContinent & Permian Basin
Not Your Shale Boomer’s M&A Strategy
Rumors of Pioneer Natural Resources and Range Resources exploring a merger is reflective of the state of energy M&A.
NewsWell
Chevron CEO Mike Wirth on Structural Changes to Gas Markets, Permian ‘Challenges’
Speaking during the CERAWeek by S&P Global conference, Chevron Chairman and CEO Mike Wirth said Russia’s invasion of Ukraine will have long-lasting effects on global natural gas markets while labor, supplies remain challenging in the Permian.
Energy Storage Gets Boost
A tax credit for stand-alone utility-scale battery energy storage introduced in the Inflation Reduction Act is luring investment.
Exclusive: Tellurian’s Souki Says Partners—Not Off-takers—are the Issue
Tellurian CEO Charif Souki tells Hart Energy that the search for partners is ‘the key thing’ to moving Driftwood LNG forward, not securing off-takers.
Federal Regulators Approve ConocoPhillips Long-sought $8 Billion Alaska Willow Project
Federal officials reduced ConocoPhillips drill sites at Willow from five to three approved 199 well sites, but environmentalists were still angered by the decision.
Market Watchers: Oil, Gas Demand to Overtake Supply by Year’s End
Dennis Kissler, senior vice president of BOK Financial’s trading division, discusses supply and demand and the gambles ahead for the market.
Q&A: Mitsubishi Power Americas Aims for Ambitious Hydrogen Storage Hub
Mike Ducker, senior vice president of hydrogen infrastructure for Mitsubishi Power Americas, discussing development of a hydrogen gas and storage hub that could be the largest in the U.S.
Rockies-Focused Bison IV Wins $500MM in Backing From Quantum
Houston-based private equity firm Quantum Energy Partners is backing Bison Oil & Gas IV to acquire and develop oil and gas assets in Colorado and Wyoming.
Williams’ Zamarin on Adding Pipe: ‘We’re Not Giving Up’
Currently, “anyone can effectively bring … litigation against one of our projects and it gets you caught in the courts forever,” said Chad Zamarin, Williams Cos. executive vice president, corporate strategic development, who argued a minimum reasonable threshold should be required.
Technology Report
Dragos: Focus on the Vulnerabilities that Matter Now
2022 saw increased cybersecurity vulnerabilities and ransomware attacks, along with the introduction of scalable malware that could disrupt multiple industries.
From MPD to PMD: Opla Energy’s Pressure Management Device to Transform Managed Pressure Drilling
Opla Energy’s remote managed pressure drilling technology allows users to operate remotely in the Permian Basin all the way from their offices in Canada.
Oxy CEO Vicki Hollub Talks Technology, Carbon Management
Technology partnerships key to bringing direct air capture facilities to reality.
Trends & Analysis
Complex Environment Demands a Pragmatic Approach to Energy Policy
Interests are rising within the U.S. and globally on addressing the goals of energy security and the energy transition.
Sub-$2 Gas on Horizon As Supply Growth Swamps Natural Gas
More LNG demand in the future means a boost in production from the ArkLaTex will be necessary—presenting significant opportunities for upstream investment and infrastructure growth across the U.S.