Raj Mistry

#US_pipeline US pipeline operator ONEOK Inc. agreed to buy a Permian Basin rival and a controlling stake in another company in two transactions valued at a combined $5.9 billion. ONEOK will acquire Global Infrastructure Partners’ entire interest in EnLink Midstream LLC and also buy GIP’s equity interests in Medallion Midstream, the largest closely held crude gathering and transportation system in the Permian, it said in a statement late Wednesday. The move expands ONEOK’s presence in the most prolific US oil and gas basin. It’s the latest in a spate of deals in the industry as private equity firms offload assets to corporate buyers. Operators of oil and gas assets are looking to scale up as cash-flush fossil fuel companies consolidate and look to refresh their drilling inventory. New York-based Global Infrastructure Partners is a private equity firm specializing in energy, transportation, water and waste management. ONEOK shares gained 0.8% in New York. EnLink surged 11%. https://lnkd.in/dCFiT6nS

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Is Barrel Hub's data analytics platform poised to transform Texas oil and gas pricing? This data has the potential to significantly alter market dynamics in several key ways: • Market maturation: Currently, oil prices in Texas can vary widely, with swings of up to $8/bbl observed in some counties. As Barrel Hub's comparative data becomes more widely adopted, we anticipate a gradual narrowing of this price range. The cause of this compression will likely be due to market participants gaining access to more accurate pricing information. • Emerging pricing benchmark: The detailed nature of Barrel Hub's data, which incorporates a broader range of pricing factors than traditional pricing contracts, may position it as a new industry standard for pricing benchmarks. • Potential market restructuring: Purchasers may face increased financial pressure as they adjust to more equitable pricing structures. Informed investors could leverage the comparative data to identify and acquire undervalued oil leases, potentially increasing revenue through renegotiated contracts or changes in purchasers. Investors may also gain earlier insights into the performance of oil-producers, allowing for more timely investment decisions. These changes suggest a shift towards a more data-driven, efficient market in the Texas oil and gas industry. While this transformation may present challenges for some current market participants, it also offers opportunities for those ready to adapt to a more transparent pricing environment.

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Oil majors have to manage sections of their shareholder roster that would balk at any deal that increases upstream production. Smaller exploration and production companies also are in the mood to sell, rather than buy. Witness, for instance, Energean itself. It has chosen to unlock value for non-core assets, which it in turn picked up cheaply. Instead it will focus on its big Israeli project, return $200mn to shareholders, and amass some firepower for its next big venture.

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📈Highlights from TXOGA’s Monthly Energy Economics Review (MEER): TXOGA Highlights Texas Energy Records through May 2024 TXOGA’s Monthly Energy Economics Review (MEER) fills gaps in public data across the entire oil and natural gas value chains. We provide production forecasts that are current through the most recent month and complete value chains – including estimates of production, trade, interstate movements, and consumption – for Texas oil and natural gas. 🔹 By TXOGA’s estimates for May 2024, Texas produced a record-high 5.7 million barrels per day (mb/d) of crude oil, plus 32.5 billion cubic feet per day (bcf/d) of natural gas marketed production and 3.5 mb/d of natural gas liquids (NGLs). 🔹 Texas’ new monthly records established in March 2024, based on data from the Energy Information Administration (EIA) and U.S. International Trade Commission, include: ·      Record-high NGL field production: 3.7 million barrels per day (mb/d) ·      Record-high refinery activities, including net production of 5.5 mb/d 🔹 Moreover, after Texas’ petroleum products exports exceeded 4.0 mb/d for the first time in December 2023, the Lone Star State has sustained its petroleum products exports above 4.0 mb/d for five straight months. Texas also exported nearly $57 billion of petroleum products in the first quarter of 2024. Texas’ record-setting performance has continued so far this year on the heels of remarkable productivity gains, where for example rig productivity in May rose by more than 20% year-over-year by EIA estimates. As a result, Texas has continued to gain market share amid U.S. oil and natural gas production through the first half of 2024. U.S. energy security increasingly depends on Texas, and Texas has stepped up like none other. For details, please see the MEER! https://lnkd.in/g8tSBmUm #TexasOilAndGas #RecordBreaking #EnergyProduction #TXOGA #IndustryLeadership #energy #oilindustry #financeandeconomy #oilgas #economy #shale #financialmarkets #upstream #infrastructure #petroleum #crude #energypolicy #gasoline #globaleconomy #oil #freight #transportation #commuting #internationaltrade #naturalresources #fuel #oils #oilanalysis #export #business #economics #refining #oilindustry #productivity #upstream #lng #naturalgas #quantitativeanalysis #strategy #innovation #inflation #prices #markets #data

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Apollo Global Management, Inc. acquires Freedom CNG, a leading provider of Renewable Natural Gas fueling infrastructure - Apollo-managed funds have acquired a majority interest in Freedom CNG, a provider of compressed natural gas and renewable natural gas fueling infrastructure in Texas. - Freedom CNG operates a network of high-capacity fueling stations in the Houston Metro area, catering to various customers including logistics companies, municipalities, and school districts. - Apollo Partner Scott Browning highlighted Freedom's growth potential, emphasizing established relationships with customers and new development opportunities. - Freedom's Managing Partners expressed enthusiasm for partnering with Apollo, aiming to meet the growing demand for low carbon alternative fuels. - Transportation currently accounts for over 25% of U.S. energy consumption, necessitating practical solutions for sustainable energy migration. - The use of compressed natural gas, particularly renewable natural gas sourced from landfills, provides a cost-effective solution with significant emissions reductions. - The demand for renewable natural gas is expected to accelerate due to increased adoption and bipartisan regulatory support, positioning Freedom favorably in the market. - Over the past five years, Apollo has invested approximately $40 billion in energy transition and sustainability initiatives, reflecting its commitment to clean energy. - Legal and financial advisory services for the acquisition were provided by multiple firms including Raymond James & Associates and Vinson & Elkins LLP. - Apollo is a global alternative asset manager with a focus on providing investment strategies across various risk-reward spectrums, currently managing approximately $696 billion in assets. https://lnkd.in/gNShE2iC

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Quick thoughts on Terraform Industries and the 'use Direct Air Capture of CO2 🗑 and hydrogen from electrolysis ⚡ to make natural gas 🛢' industry: TLDR: even though this technology should be 'carbon-neutral,' its methane impact will likely be high because of industry average leakage. If it results in cheaper/more accessible natural gas or reduces pressure to move away from natural gas, is it ACTUALLY better for the environment? 🛢 I listened to Ben Thompson interview Terraform Industries CEO Casey Handmer on Stratechery (which is an AWESOME listen on solar generally and on Terraform specifically. Ben, please do more energy!). Terraform is producing a modular reactor that takes directly captured CO2 and hydrogen created from electrolyzed water to produce methane. This would all be powered by a co-located solar array to operate on 100% renewable energy. 🌍 At first glance, this seems like an amazing technology to use natural resources (air, water, sunlight) to create an energy-dense fuel that we'll probably need in some capacity for at least the next decade (if not longer). But then when you break it down.... * The Terraform reactor (https://lnkd.in/gTvpXMQ8) captures about 120 t of atmospheric CO2 per year (some percentage is probably released back as a by product, but point stands). * The process creates 2,300 Mcf of natural gas a year, which (making some assumptions on pressure and temperature) is about 55 metric tons - someone correct me if my math is wrong * Assuming the final Terraform product is 97% methane, that's ~53 tons of methane * With industry standard leakage rates of 1-4% in production and transportation that's 0.5-2 tons of methane leaked from the 2,300 Mcf created by a Terraform reactor in a year * The 20 year global warming potential of methane is about 80x carbon dioxide, which means the carbon equivalent of the leaked methane is 40-160 tons CO2e 💡 If the Terraform natural gas is ONLY replacing standard extracted natural gas, there would be an environmental benefit because methane leakage should be about the same but the carbon generated from burning the produced natural gas is 'offset' by the DAC'ed CO2 in Terraform production. BUT, Casey Handmer paints a picture in the interview where Terraform and similar technologies unlocks ADDITIONAL natural gas usage because it's now cheaper, easier, and most importantly, cleaner. If this is the case, each the marginal Terraform reactor that increases natural gas use is 'carbon-neutral' (HEAVY emphasis on carbon) but generating 40-160 tons of carbon equivalent CO2e in methane over a 20-year warming potential. Casey and Terraform team, what am I missing?

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DT Midstream has entered into a definitive agreement to acquire three FERC-regulated interstate natural gas pipelines from ONEOK for $1.2 billion. The pipelines involved are the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, which collectively span approximately 1,300 miles and have a total capacity exceeding 3.7 billion cubic feet per day. This strategic acquisition aligns with DT Midstream's focus on expanding its natural gas infrastructure and is expected to enhance its pipeline segment's scale and revenue. The transaction is anticipated to close by the end of 2024, subject to customary regulatory approvals. For ONEOK, this sale is part of a broader strategy to optimize its asset portfolio and concentrate on its integrated operating footprint. Recently, ONEOK completed the acquisition of Medallion Midstream, a significant crude oil gathering and transportation system in the Permian Basin, for approximately $2.6 billion. These developments reflect ongoing consolidation and strategic realignment within the midstream energy sector, as companies seek to enhance operational efficiencies and focus on core assets.

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Big News in the Energy Sector and Schaper Energy Consulting is here with the info! ConocoPhillips is set to acquire Marathon Oil Corporation in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. This transformative deal is expected to be immediately accretive to ConocoPhillips' earnings, cash flows, and return of capital per share. Key Highlights: Accretive Acquisition: This deal will immediately boost ConocoPhillips' earnings, cash flow, and shareholder distributions. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips stock for each share of Marathon Oil, reflecting a significant premium. Cost and Capital Synergies: ConocoPhillips expects to achieve at least $500 million in run-rate cost and capital savings within the first year post-closing. These savings will come from reduced general and administrative costs, lower operating costs, and improved capital efficiencies. Enhanced Portfolio: This acquisition deepens ConocoPhillips' portfolio with high-quality, low-cost supply inventory, adding over 2 billion barrels of resource with an average cost of supply under $30 per barrel WTI. The deal further solidifies ConocoPhillips' position as a leader in the U.S. unconventional sector. Shareholder Returns: Independent of the acquisition, ConocoPhillips plans to increase its ordinary base dividend by 34% to 78 cents per share in Q4 2024. Post-acquisition, the company aims to repurchase over $7 billion in shares in the first year and over $20 billion within the first three years. What's Next? The transaction is expected to close in Q4 2024, subject to regulatory approvals and Marathon Oil stockholder approval. This merger promises to create substantial value for shareholders and strengthen ConocoPhillips' position as a top-tier operator in the energy sector. Stay tuned for more updates on this transformative deal! What do you think? Learn more about Schaper Energy Consulting and our engineering services at https://schaperintl.com/.

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THE One Minute Energy Update for 6-3-24 🔹 📅 July ‘24 is now Prompt Month 💹 #NYMEXUp 💡 #PG&EBasisDown 📉 #SoCalBasisDown 🌡️ #WeatherTurning 🌍 #CarbonOffsets 💲 NYMEX Pricing So Far Today: Open: $2.64 High: $2.79 Low: $2.63 Current: $2.68 📈 NYMEX prices are up $0.10 from last week and down $0.15 from last year. 2024 NYMEX Monthly Average: $1.98 2023: $2.73 2022: $6.64 2021: $3.84 Resistance: $2.63/$2.68 Pivot: $2.57 Support: $2.52/$2.47 📉 Basis: PG&E CG and SoCal Basis prices continue to weaken. 2023 PG&E CG: $9.83 2024 (so far): $3.51 2023 SoCal CG: $10.95 2024 (so far): $3.29 LNG Exports: 13.0Bcf/D Mexico Exports: 6.9Bcf Canadian Imports: 5.3Bcf 🔍 Supply & Demand This Week: Today’s Est. Supply: 105.5Bcf Today’s Est. Production: 100.3Bcf Today’s Est. Demand: 96.0Bcf Rig Count: Total rigs: 600 Oil rigs: 496 (-1) Gas rigs: 100 (+1) Miscellaneous: 4 📦 Storage: Est. injection: 39Bcf Current: 2,795Bcf (above 5-year range) Projections: 3.87Tcf by Oct '24, 1.73Tcf by Mar '25 ☀️ Weather: Next few days: Warm, highs of 70s-90s, cooler in NW Hot upper ridge: Western US late in the week Cooling: Eastern US into the 60s-80s Forecasts: 5-10 day: Bearish 10-15 day: Bearish 3-month: Bullish Summer: Bullish 🛢️ Crude: Up, current price $76.98 🔋 CA Retail Power: Up, over $14 per MWH 🌱 Carbon Offsets: Mandatory for companies by 2025. Is your company ready? Get ahead now! 📊 Indicative Fixed Prices out of July ‘24: PG&E CG: 1 Month: $3.55 3 Months: $3.80 6 Months: $4.65 12 Months: $4.90 24 Months: $5.18 SoCal CG: 1 Month: $4.00 3 Months: $4.65 6 Months: $5.25 12 Months: $5.40 24 Months: $5.90 SoCal Border (+ $0.51 BTS): 1 Month: $3.60 3 Months: $4.15 6 Months: $4.90 12 Months: $4.81 24 Months: $5.55 Summer Strip (July ‘24 – Oct ‘24): PG&E CG: $3.80 SoCal CG: $4.35 SoCal Border: $3.95 Winter Strip (Nov ‘24 – Feb ‘25): PG&E CG: $5.70 SoCal CG: $6.15 SoCal Border: $5.70 📊 Bottom Line: Bulls are leading now, but bears might take over soon. Stay vigilant for summer heat, reduced production, and maintenance season impacts on prices. #EnergyUpdate #NaturalGas #EnergyMarket #CarbonOffset #WeatherForecast #EnergyPrices #EnergySupply #EnergyDemand 🌐

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Energy Market Update - April 19, 2024 In today’s dynamic energy market, here are the critical figures and trends impacting the industry: NYMEX Natural Gas Pricing: Today's Performance: Opened at $1.74, peaked at $1.80, dipped to $1.72, and currently stands at $1.75. Week-over-Week Gain: +$0.05 Year-over-Year Decline: -$0.50 Market Technicals: Current Pricing: Below the 50-day, 20-day, and 9-day averages, all at $1.75. Key Levels: Resistance starts at $1.79 and $1.87, with support beginning at $1.68 and $1.66. Basis and Export Insights: Basis Updates: Slight increases in PG&E and SoCal CG bases. LNG Exports: Reached 10.9 Bcf/D yesterday, highlighting robust export activity. Supply and Demand: Today’s Estimated Supply: 104.0 Bcf, with a 7-day average of 103.8 Bcf. Demand Projections: Today’s estimated demand is 93.7 Bcf, with a rising trend expected over the next week. Storage and Weather Forecast: Storage: Yesterday's injection exceeded forecasts at 50 Bcf, contributing to current levels that are 622 Bcf above the 5-year average. Weather Impact: Moderate to high demand expected due to chilly conditions across major regions in the next 6 days. Energy Prices and Market Outlook: Crude Oil: Currently at $82.78 with a downward trend projected. Renewable Energy Outlook: Wave energy is touted as a future key renewable source, with hydro levels expected to be 6% higher in 2024. Forward-Looking Statements: Pricing Strips: Summer prices range from $3.35 to $4.06, while winter prices are forecasted to be between $6.40 and $7.12. Market Sentiment: While the short-term outlook due to weather supports higher prices, fundamental indicators suggest a bearish trend remains dominant. This comprehensive overview provides actionable insights for industry stakeholders. Stay tuned for more updates and discussions on how these trends might evolve. #EnergyMarkets #NaturalGas #Commodities #MarketAnalysis #RenewableEnergy #ProfessionalNetworking

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Key Trends in Energy Markets - April 29, 2024 As June steps into the role of the prompt month, we’re witnessing notable dynamics in the energy markets, underscored by strong performance indicators and strategic insights: NYMEX Natural Gas Overview: Current Pricing: Today's trading opened at $1.92/MMBtu, peaking at $2.03 and dipping to a low of $1.91, with the current rate at $2.02/MMBtu. Trends: NYMEX prices have softened, showing a decline of about $0.15 from last week and a more significant drop of $0.60 compared to last year. Forecast: The estimates for NYMEX for the coming years are $2.45 for 2024, rising steadily to $3.99 by 2026. Comparison: The monthly average for 2023 stands at $2.743/MMBtu, down from $6.64 in 2022 and $3.84 in 2021. Market Positioning: Currently, prices are above the 50-day ($1.75), 20-day ($1.77), and 9-day ($1.74) averages. Basis and Pricing: Basis Movements: Both PG&E CG and SoCal CG Basis are trending upwards today. Price Indicators: Resistance starts at $2.00/MMBtu, with support levels beginning at $1.80 and $1.75/MMBtu. LNG and Natural Gas Exports: LNG Exports: Stand at 11.5 billion cubic feet (Bcf). Mexico Exports: Recorded at 6.3Bcf. Canadian Imports: Currently 5.5Bcf. Supply and Demand: Supply Dynamics: Today’s estimated supply is 104.6Bcf, with a seven-day average slightly higher at 104.88Bcf. Demand Insights: Today’s estimated demand is 92.6Bcf, with recent averages at 94.38Bcf. Storage and Rig Count: Storage Levels: We are currently 439Bcf above last year and 655Bcf over the 5-year average. Rig Activity: The total rig count decreased by 6 last week, with natural gas rigs down to 105. Weather Forecast: The weather outlook remains bullish from the 5 to the 15-day forecast and extends into the 3-month summer projection, suggesting elevated cooling demands. Crude Oil and Power Pricing: Crude Oil: Rapid sell-offs have occurred due to easing geopolitical tensions, with current prices at $83.78/barrel. CAISO Power Pricing: Moves up slightly, now just over $25 per MWh. Carbon Offsets: Offerings range from as low as $1 per unit to $375 per unit, providing a wide range of options for carbon footprint management. Bottom Line: With NYMEX and Basis indicators on the rise with weather and looming cooling demand giving support to higher prices today. Keep an eye on the market as these trends offer significant implications for pricing and energy strategy in the coming months.    

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Rigorous Due Diligence for Alternative Protein, Fermentation, and Bioenergy Investments At Stealth Bioenergy and Biotechnology Consulting, our 200+ SMEs recognize that institutional investors require in-depth techno-economic analysis before deploying capital into emerging biotech sectors like alternative proteins and bioenergy. Our proven project evaluation framework includes: 1. Signing NDAs to protect sensitive information on novel technologies and processes. Discretion is key when conducting due diligence. 2. Thorough data collection on production projections, operational expenditures, capital costs, target markets and competing solutions. We leave no stone unturned. 3. Rigorous financial modeling using dynamic variables to assess production economics, ROI potential, sensitivity analysis and risk factors. 4. Benchmarking key performance metrics like production yields, operating costs and product margins versus incumbent solutions and competing startups. 5. Checking claims against scientific fundamentals and commercial feasibility. We validate what's real versus hype. 6. Evaluating market dynamics, regulatory constraints, adoption barriers and supply chain maturity. The market landscape is analyzed in-depth. 7. Providing clear recommendations on investment merit and risk-return profile compared to alternatives. You get our unbiased assessment. If you are conducting diligence in the precision fermentation or bioenergy markets, leverage our technical expertise and commercial rigor of our 200+ subject matter experts (top tier PhDs and C-suite execs). We distill complex data into actionable insights on value creation opportunities. Partner with us to make informed investment decisions. #investing #TEA #bioenergy #biotechnology #alternativeproteins #fermentation [email protected] www.stealthbb.com

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