Flowback Water for Drinking Water in NM?

Author

Rob Quigley
September 13, 2024

Good morning! Fairly quiet deal day today. Appareantley New Mexican's are resorting to flowback water for drinking water (after some cleaning) due to drought conditions. Companies are still feeling the pain of natural gas. Along those lines Coterra CEO said they are dropping their last rig in the Marcellus and might even halt completing DUCs. Oil price keeps falling as demand weakens according to the IEA. Farily queit deal day yesterday. Let's drill down.

Daily Headlines

  • In arid New Mexico, rural towns eye treated oil wastewater as a solution to drought Reuters.

  • CEO: Coterra Drops Last Marcellus Rig, May Halt Completions Hartenergy.

  • Oil prices to keep falling as demand weakens, says IEA head FT.

  • Natural gas pipeline capacity from the Permian Basin is set to increase eia.

  • Argentina cuts energy subsidies to tackle fiscal deficit concerns BOE Report.

  • Mitsubishi and Exxon Mobil collaborate on Baytown hydrogen project Houston Business Journal.

Deal Flow

M&A/Investment

  • Delek Logistics Closes Acquisition of Permian’s H2O Midstream Hartenergy.

  • Logan Energy Corp accelerates Duvernay development with a $30 million equity offering BOE Report.

IPO/Direct Listing/Issuances/Block Trades

  • Viper Energy offers 10 million shares to fund a Permian Basin acquisition Hart Energy.

  • Kosmos to Repay Debt with $500MM Senior Notes Offer Hart energy.

  • Phillips 66 aims to raise $1.8 billion through a debt instrument sale Rigzone.

Fundraising

  • ADNOC commits $23 billion to new low-carbon investments as part of its green strategy Upstream Online.

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