Lonquist & Co., LLC

This was a great conference organized by Kassem Alokla and the rest of the students at Harold Vance Department of Petroleum Engineering at Texas A&M University! A great mix of industry experts and students!! Make sure you plan on coming to this next year!!

Looking forward to an excellent Panel discussion at the Texas A&M Carbon Capture & Storage Symposium

As the 2024 presidential election continues to grow closer, more concern and questions have been brought up regarding the future for energy security in the US. President and CEO of the American Petroleum Institute (API), Mike Sommers, is not waiting to find out. In an article from World Oil, he was quoted saying, “Reliable, affordable energy policy will support American families and businesses in the fight against inflation. Yet misguided policies and heavy-handed regulations, particularly over the past four years, threaten to undermine our existing energy advantage, potentially increasing costs and jeopardizing a key pillar of American leadership.” The API has now released policy suggestions you can read about here: https://lnkd.in/gMJmiWmk #OilandGas #AmericanPetroleumInstitute #API #Election

ConocoPhillips and Marathon Oil are joining the parade of recent mergers in the energy sector, with ConocoPhillips acquiring Marathon Oil: “Announced Wednesday in Houston, headquarters for both corporations, it was an all-stock transaction with an enterprise value of $22.5 billion inclusive of $5.4 billion of net debt, they said.” Read more about it here: https://lnkd.in/g9R8vU4B #oilandgas #energy #energymarket #petroleum

What is it that makes Carbon Capture so necessary? Once you’ve dropped the notion that affordable and accessible energy without fossil fuels is a reasonable or beneficial aspiration, the answer becomes clear: we need less CO2 in the atmosphere, and that’s attainable through CCS. The latest CO2 capture and storage technology has opened the door to not only energy that we can access affordably, but that is also clean. A recent article by Forbes outlines a few reasons why carbon capture implementation is the next step: “The problem with focusing solely on decarbonization is that it ignores the many carbon sources that are still going strong. Making chemicals and steel still depend heavily on burning fossil fuels. Coal-fired power may be waning in the United States, but it’s thriving in countries like China and India, and global coal use reached an all-time high in 2022 (the latest year for which there is firm data). Also reaching a record high in 2022 (as well as again in 2023, with a trend line indicating almost certainly another record high in 2024) was the amount of carbon that’s already in the air. Global average atmospheric carbon dioxide reached 421 parts per million last year, trapping heat and driving the climate effects we continue to see, such as extreme weather, droughts and floods and more intense wildfires.“ Read more here: https://lnkd.in/dAUYzWnR Original Photo: https://lnkd.in/dGuSEfyq #Carbon #CarbonCapture #CCS #Sequestration #CarbonStorage

“ProPetro Services has signed an agreement to provide electric hydraulic fracturing services to ExxonMobil operations in the Permian Basin over the next three years. Under the agreement, ProPetro will dedicate two of its Force SM electric hydraulic fracturing fleets to ExxonMobil, along with wireline and pumpdown services.” Are electric frac rigs the future of the Permian Basin? Read more here: https://lnkd.in/gJyHbPye #frac #fracsand #permian #fracfleet #pumpmoresand

“While the transition to renewable and clean energy sources is pivotal towards achieving net-zero CO2 emissions by 2050, the large-scale adoption of carbon sequestration technologies across emission-intensive industries is a more immediate step to strengthen climate action.” Carbon Capture is the future of the global climate movement, and it’s clear to see. It’s time to adjust the notion of “transitioning” to new energy and instead pursue opportunities to make our current energy sources cleaner. Read the article below to learn more about the benefits of Carbon Capture as well the associated challenges: https://lnkd.in/guTbiPiD

Earlier today, the White House controversially brought regulations to restrict oil and gas production for 40% of Federal Petroleum Reserve in Alaska. Quoting from an article by AP News; “It’s more than a one-two punch to Alaska,” Alaska Sen. Lisa Murkowski said, “because when you take off access to our resources, when you say you cannot drill, you cannot produce, you cannot explore, you cannot move it — this is the energy insecurity that we’re talking about.” While the decision is sure to please environmentalists across the country, the question has to be asked, is making those environmentalists happy really worth the damage that is sure to come for the Alaskan economy? Read more about it here: https://lnkd.in/g67hyE7v. https://lnkd.in/gBqSmsnc

Growth in the carbon capture is at full throttle and shows no signs of slowing down. Avnos has announced plans to develop Hybrid Direct Air Capture (HADC) technology in partnership with Deep Sky Labs in Canada. “As part of its partnership with Deep Sky, Avnos will build and install a Hybrid DAC Air Handling Unit (AHU) at Deep Sky Labs in Canada, with the capacity to remove 450 tons of CO2 per year.” Read the full article here: https://lnkd.in/gWVmtHH3

2024 is well underway, and it’s posed to be a big year for the CCUS scene. “In 2024, the Carbon Capture, Utilization, and Storage (CCUS) landscape is poised for significant developments, with key themes and trends shaping the industry. Wood Mackenzie had some predictions for the year as laid out in their report, expecting storage capacity to grow rapidly. CCUS has long been a crucial energy transition topic, playing an important role in the global net zero 2050 scenario. The research company predicted that CCUS capacity will increase from 80 metric ton per annum (Mtpa) to over 500 Mtpa.” The Wood Mackenzie 2024 CCUS outlook report points out a few key developments to consider, most notably the mass amount of CCUS projects proposed for 2024. The article states, “The global CCUS pipeline would grow, with 119 projects aiming for FID in 2024, representing the largest number to date. These projects collectively target 115 Mtpa capture capacity and 240 Mtpa storage capacity.” Read the full article here: https://lnkd.in/gbYtvxXZ #carboncapture #sequestration #CCS #CCUS #oilandgas #petroleumengineering