Oil and Gas Investor Magazine - May 2025
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In the face of unpredictable tariffs and marketplace whiplash, our staff has taken an all-hands-on-deck approach to covering the current uncertain and volatile political and financial environment. The team at Oil and Gas Investor interviewed several of the smartest professionals in the business about the potential impacts and how companies can plan for what may be ahead—to the extent possible given daily, sometimes hourly, changes in policy.
Additionally, OGI presents a special Midstream Business report on the state of the sector in the industry. Our team spoke with Williams Co. CEO Alan Armstrong about their bullishness in buildout of LNG facilities and data centers, investigated the growing gas demand in the Haynesville coming from Louisiana and southeast Texas Gulf Coast LNG developers, and looked into one of the first deals to supply natural gas to a data center.
Features
Energy in the Time of Tariffs
In the near term, oil prices will fall, steel prices will rise and M&A will slam on the brakes.
Dean, Dean and More Dean
The sheet of tight Dean sandstone, up to 300 feet thick, that sits between Spraberry and Wolfcamp in the Midland Basin has already made more than 15 MMbbl since 2020 from just 43 wells in Dawson County alone.
Money Talks: Energy Lenders on Oil and Gas Investing Amid Volatility
Bankers want to do business, but market uncertainty breeds caution.
Buyers Scramble for their Slice of the Haynesville
A natural gas demand wave approaches, but there’s precious little left in the market to buy.
Scott Sheffield: There are More US Plays for E&Ps to Explore
The former Pioneer Natural Resources CEO discusses his fight with the FTC, where oil prices are headed and what he hopes the Trump administration will be able to accomplish.
Midstream Business Special Report
Where there's a Williams, there's a Way for Gas
The midstream giant leads the natural gas bulls on the great infrastructure buildout.
The Haynesville-to-LNG Pipeline-Palooza
As up to 13 Bcf/d of new gas demand is incoming from Louisiana and southeast Texas Gulf Coast LNG developers, midstream operators are adding big pipe to deliver more from the Haynesville.
Initial Connection
Energy Transfer Co-CEO Mackie McCrea tells the story behind one of the first deals to supply natural gas to a data center.
Cover Story
Dean, Dean and More Dean: Dawson Wells Reach 15 MMbbl Milestone
The sheet of tight Dean sandstone, up to 300 ft thick, that sits between Spraberry and Wolfcamp in the Midland Basin has already made more than 15 MMbbl since 2020 from just 43 wells in Dawson County alone. Here’s a look.
Energy Sector Braces for Impact from Tariffs
The oil and gas industry is bracing for the near-term impacts of Trump’s tariffs as oil prices fall, steel prices rise and M&A slams on the brakes.
A&D Watch
Belcher: Bright Future Ahead in Powering US Data Centers
Steps are being taken at the federal level to ensure sufficient power generation to fulfill the energy demands of data centers in the U.S.
Buyers Scramble for Their Slice of the Haynesville
A natural gas demand wave approaches, but there’s precious little left in the market to buy in the coveted Haynesville Shale.
Commentary
Kissler: Producers Might Want to Chill, Baby, Chill
As good as the Trump administration’s “drill, baby, drill” may initially sound, global oil production will slow if the price sinks below $60/bbl.
Paisie: Uncertain Demand Roils Oil Market Outlook
Oil could range from sub-$50 to $75, depending on how tariffs shake out.
Energy Transition
NextEra Energy Resources CEO Talks Electrification Strategy, Growth
With data centers, manufacturing and electrification driving energy demand growth, the company looks to meet energy needs with renewables, batteries, natural gas and nuclear energy.
Finance & Investment
Money Talks: Comerica Bank is ‘Hungry’ for Oil, Gas Business
Opportunities may be challenged in the near term, but Comerica Bank remains supportive of oil and gas, says Jeff Treadway, director of energy finance.
Money Talks: First Horizon's Investment Thesis on Oil, Gas
Macro events must be part of the investment thesis in a global commodities business, says Moni Collins, senior vice president for energy lending at First Horizon Bank.
Money Talks: Texas Capital Bank on How to Deploy Capital Amid Shrinkage
In an uncertain macro environment, caution is necessary in deploying capital, says Marc Graham, managing director and head of energy at Texas Capital Bank.
Money Talks: UMB Bank on Impacts of Upstream Consolidation
Guardrails in place allow banks to support energy businesses through all economic cycles, says Zachary Leard, vice president for the energy group at UMB Bank.
Midstream
Midstream Players Trim Fat from Ledgers, Enter Lean Bulk Era
The midstream sector’s capex growth outlook is strong with fewer, more muscular companies.
Segrist: Greenpeace’s Next Move After North Dakota Knock-Down
Energy Transfer won a massive lawsuit against the environmental group Greenpeace that will likely change the tactics of future protests.
The Haynesville-to-LNG Pipeline-Palooza
As up to 13 Bcf/d of new gas demand is incoming from Louisiana and southeast Texas Gulf Coast LNG developers, midstream operators are adding big pipe to deliver more from the Haynesville.
Technology Report
More Meat Off the Bone: New Refrac Methods Drive Production Gains
Liner hanger components and bullhead frac combinations are boosting refract results.
There’s Something in the Permian’s Water, and That’s a Problem
Companies big and small are figuring out how to manage the Permian Basin’s unprecedented volume of produced water.