aggiemike02 said:

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Crusoe Energy

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Yep familiar with them. We'd like to bring it in-house.

Lots of great words on their website, but not much detail about what they do.

I think once the numbers come out of CAPEX vs IRR on Bitcoin mining revenue, it's a huge loss. The amount of power required to mine a bitcoin is growing exponential, and will be beyond a train of 350kW gensets.

We need to address the elephant in the room, which is embracing clean natural gas, including permitting dual cycle turbine power grid generation.

Total certainly doesn't believe it exists in Africa.

Any company pursuing certification of responsibly sourced gas will be looking at implementing a lot of these proposals already. Most people I've talked to seem to think that those voluntary programs will become industry standard over time.

thanks? I guess we should tell all their investors...

I don't know if its a 'huge loss' opportunity or not but i'd guess it provides small scale methane reduction which might bolt on well to existing problem areas. Seems like the number of bros mining at home multiplies daily and lately were not great at tackling big problems collectively, so why not try hunting elephants and snakes.

Bismarck said:

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Any company pursuing certification of responsibly sourced gas will be looking at implementing a lot of these proposals already. Most people I've talked to seem to think that those voluntary programs will become industry standard over time.

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The majority of companies in the upstream world are already in the red. If you want consolidation into ultra large companies then this is how you do it. The days of small time companies getting involved are pretty much over.

Oh and these new rules will affect all existing sources as well so this means companies that are not drilling will get nailed as well. It is going to be an absolute ****show.

The new rules mostly are going to be brutal for the mom and pop producers that do not have scale on their side. The rules basically force the operator of any well to conduct LDAR surveys quarterly. They set the emissions requirement of 3 mT/yr Methane as the cut off for continued compliance (every site has to be surveyed in year 1). At 3 mT, if you have a wellhead, a separator and a meter on site, your EPA Subpart W will exceed 3 mT/yr without an LDAR survey to bring it down. That's not even factoring in pneumatics either, so basically, every single well point forward will be required to have LDAR surveys conducted quarterly.

The gray area we are still looking into is how they calculate emissions. EPA Subpart W calcs or equipment specs….. makes a huge difference.

Either way, it's going to be a pain and the regulatory agencies have no clue what they are doing.

Key words - technically and/or economically feasible.

https://www.offshore-energy.biz/maersk-drilling-to-merge-with-noble/

Noble and Maersk merging to create the predominant offshore drilling contractor, and that's all I'll say about that.

RulesForTheeNotForMe said:

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The new rules mostly are going to be brutal for the mom and pop producers that do not have scale on their side. The rules basically force the operator of any well to conduct LDAR surveys quarterly. They set the emissions requirement of 3 mT/yr Methane as the cut off for continued compliance (every site has to be surveyed in year 1). At 3 mT, if you have a wellhead, a separator and a meter on site, your EPA Subpart W will exceed 3 mT/yr without an LDAR survey to bring it down. That's not even factoring in pneumatics either, so basically, every single well point forward will be required to have LDAR surveys conducted quarterly.

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Can you provide a link to the comment that every well will need LDAR quarterly? You're correct, that will be brutal for the stripper well operators, which make up a significant amount of production. What the hell is Diversified going to do with their 69,000 wells??

Wocka Wocka said:

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https://www.offshore-energy.biz/maersk-drilling-to-merge-with-noble/

Noble and Maersk merging to create the predominant offshore drilling contractor, and that's all I'll say about that.

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Noble acquired pacific recently correct?

So I'd assume they are going to keep using nobles supply chain?

https://www.epa.gov/controlling-air-pollution-oil-and-natural-gas-industry/epa-proposes-new-source-performance

https://www.epa.gov/system/files/documents/2021-11/san-8510-ong-climate-review-proposal-frn-2021-11_1.pdf

Page 35 has a summary table. No rule text yet because they rushed to get a summary out during the Climate Summit. Long way to go before it is finalized.

All signs point to yes.

Wocka Wocka said:

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All signs point to yes.

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Interesting

The rumor i heard last year was diamond was going to be acquired by noble since they all had the same debt consolidation/investors.

Kinda wonder if diamond is still on table and the last acquisition piece for noble

I can't speak too much towards any Diamond acquisition; however, I will say, what does Diamond bring to the table for Noble?

Four Black series ships? Diamond purchased the work-series package from HHI, these ships have ****-tastic Thrustmaster thrusters, and then there is the agreement with GE regarding the BOPs that no one wants to touch.

The Great White can't find work anywhere.

Every other rig needs to be drug up on an Indian beach.

Is it the thrusters or the VFDs that are crappy? We always had ABB issues that caused thruster issues... this was 7 years ago so I may be misremembering...

I was curious how that BOP rental program was going for both Diamond and what is now called HMH. If Diamond doesn't have work for the ship I imagine they dont have to pay for the stacks. Then again, I'm sure its frustrating for their subseas to not be able to work on it and to have to have the HMH guys be the ones to work and maintain it.

What issues do they have with Thrustmaster?

My sauces are saying Aethon is selling their Louisiana Acreage to someone. Anyone else hearing this?

acreage or production ?

Assuming both and hearing it's XTO.

How good of a source are we talking

Well it's from multiple…take it for what that's worth.

gigem1223 said:

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Well it's from multiple…take it for what that's worth.

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Like sweet baby ray's mixed with A1?!?!

I wouldn't be surprised if they're selling. I would be surprised if the buyer is XTO.

XTO buying into Haynesville at this point. Aethon has been putting the hammer down in the area.

Bismarck said:

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Yeah, last I heard Aethon was running 11 rigs in TX/LA. Those Canadian teachers have put a lot of holes in the ground.

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and a lot of our pipe!

Yep. More coming online too. Three was the latest number I heard.

Source: I work for a provider.

MAROON said:

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Bismarck said:

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Yeah, last I heard Aethon was running 11 rigs in TX/LA. Those Canadian teachers have put a lot of holes in the ground.

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and a lot of our pipe!

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You got any of dem der pipe? 5-1/2"?

gigem1223 said:

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Well it's from multiple…take it for what that's worth.

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Confirmed it today. Focusing on developing Texas. Other buyer thrown around is SWN.

Interesting. SWN would be a behemoth in the Haynesville if they pick up Aethon on top of the others.

would be huge.