permian basin

This seems like a case of circular logic:  American frackers in the oil patch are switching to electricity to operate drills and other associated equipment to reduce their emissions.  What?  Worse, is that they are making demands on the grid for electricity that is usually produced by, wait for it... natural gas!  This doesn't make any sense.  We wade through the details to learn more.  

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During this episode, we discuss the impact of Apple's new VR googles on the human mind; who ya gonna call when your factory robot goes awry; and American crude oil drillers go electric in the oil patch! 

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Since 2017, the United States has been a net exporter of natural gas to the world.  In 2019, it also became a net exporter of crude oil from the Permian Basin oilfield.  One Texas city and its deep water access to this energy has made it possible. 

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• Gabriel shares his experience working in the oil field and his journey from Mexico to the United States.
• He discusses his role transition from a roustabout to an environmental technician.
• The conversation explores the challenges and opportunities Gabriel has encountered in his career.
• Gabriel and Shane highlight the strong team culture at Wescom and the positive relationships with supervisors and colleagues.
• Gabriel emphasizes the significance of working in the oil field for financial stability and a better future for his family.
• Throughout the discussion, Gabriel's commitment to growth, learning, and embracing opportunities is evident.

• The podcast episode highlights the significant growth of Wescom's electrical division in the Permian Basin, expanding from a small group to approximately 35 electricians.
• Success in the division is attributed to structured growth, achieving milestones, and strategically placing the right personnel in key roles.
• The oil and gas industry's ever-changing nature demands a flexible leadership approach, with adaptability to varying departmental needs being crucial.
• Wescom's transition to an Employee Stock Ownership Plan (ESOP) is discussed, clarifying that daily operations remain unaffected by the change in ownership structure.
• Joey Croce receives recognition for his adept leadership, particularly in the growth of the Permian team and his ability to navigate challenges.
• The episode underscores the importance of asking questions to facilitate learning and effective decision-making throughout the organization.

Danny Rice is the CEO of NET Power, a newly public company that uses natural gas in a patented oxy-combustion process that allows it to capture almost 100% of the CO2 emissions from its power plant. In this episode, Rice explains how his company’s technology (the Allam Cycle) works, why the market potential for it is “beyond incredible,” why their first plant will be located in the Permian Basin, carbon sequestration, and why “clean doesn’t  just mean renewable.” (Recorded July 14, 2023.)  

Scott Sheffield heads Irving-based Pioneer Natural Resources, a $47 billion company that is the largest oil producer in Texas. In this episode, Sheffield discusses the challenges facing drillers in the Permian Basin, why the industry is increasing the length of its laterals, the use of “damp sand” in fracking, flaring, capital discipline, and why OPEC producers will continue to dominate the global oil sector in the years ahead. (Recorded March 29, 2023.)

Over the last month the news has been dominated by stories of energy shortages around the world. China has seen major industrial output cuts caused by power outages over the last year, European gas prices are trading near record highs and the UK is reeling from the political fallout of a surge in energy prices.

US oil prices rose to the highest level in seven years after OPEC and its allies declined to accelerate plans to increase crude production, snubbing calls from the White House to help tackle a growing global energy crunch.
This crisis in Europe might foreshadow future difficulties in the rest of the world as the continent’s energy shortage has governments warning of blackouts and factories being forced to shut.

From container ships to cardboard, tighter environmental regulations are stoking shortages and price spikes as 'greenflation' takes a grip, adding a new twist to corporate valuations.

For all the inflation-is-transitory messages from central banks, double or triple-digit cost increases have become common on company balance sheets, although the green variety has yet to show up in bond markets, the usual early warning system.

While higher costs are partly down to pandemic-linked supply glitches, fund managers say a powerful impetus is emanating from stringent new rules to guide the world's transition to a greener future.

Aluminium, electricity and fertilizer are among sectors targeted, with others such as aviation in the EU crosshairs.

Investors largely agree greenflation is a necessary risk, because with the United Nations saying global warming is spiraling out of the control, the alternative of frequent floods, droughts and forest fires is worse. read more

The question facing fund managers is which companies will see a profit hit, which can pass costs on and which will thrive.

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