Steven Goytia, MBA

𝙎𝙚𝙢𝙥𝙧𝙖 𝙍𝙚𝙘𝙤𝙣𝙨𝙞𝙙𝙚𝙧𝙨 𝘽𝙚𝙘𝙝𝙩𝙚𝙡 𝙛𝙤𝙧 𝘾𝙖𝙢𝙚𝙧𝙤𝙣 𝙇𝙉𝙂 𝙀𝙭𝙥𝙖𝙣𝙨𝙞𝙤𝙣 𝘼𝙢𝙞𝙙 𝙍𝙞𝙨𝙞𝙣𝙜 𝘾𝙤𝙨𝙩𝙨 Sempra LNG is revisiting its choice of Bechtel Corporation for the Cameron LNG expansion project in Louisiana due to escalating construction and labor costs. This reflects broader industry challenges affecting several U.S. liquefied natural gas (LNG) export projects, potentially causing delays. 𝑲𝒆𝒚 𝑷𝒐𝒊𝒏𝒕𝒔: Sempra is seeking a new EPC (engineering procurement and construction) contractor to manage costs. The Cameron LNG Phase 2 aims to increase capacity and add a fourth train to its 12 million metric tons per annum (MTPA) facility. Rising demand for skilled labor inflates costs, making some projects prohibitively expensive. Sempra’s decision on the expansion project's financial commitment has been delayed to the first half of 2025. Sempra and Bechtel have not commented on the status of their contract, but industry-wide inflationary pressures are prompting a reevaluation of project partnerships. #Energy #LNG #Sempra #Bechtel #Construction #Inflation #ProjectManagement https://lnkd.in/dykHGndw

1

Looking forward to this talk with Tom Ewing. HGS Zoom Luncheon Wednesday, May 22, 12:00 PM Noon to 1:10 PM Virtual Meeting Online Tectonic Setting and Petroleum Systems of the Seno Mexicano (South Texas and Northeastern Mexico): An Initial Synthesis Luncheon Speaker: Dr. Tom Ewing, Senior Geologist, Frontera Exploration Consultants Seno Mexicano (South Texas and the Burgos Basin of Mexico) is a prolific Cenozoic gas-rich hydrocarbon province, as shown by a fresh compilation and estimation of production. The Texas part of the basin (RRC-4) has produced an estimated 107 trillion cubic feet of gas (Tcfg) and 3,604 million barrels of oil (MMbo) between 1920 and 2000; 76% of the gas and 76% of the oil has come from major fields greater than 50 Bcfg or 10 MMbo (casinghead gas and condensate not included). The Mexican part (Burgos Basin) has produced 16 Tcfg (12.3 Tcfg in major fields), about 15% of total production. The 183,000 km2 Seno Mexicano basin (99,000 km2 onshore) overlies poorly known, highly extended continental crust related to the Jurassic formation of the Gulf of Mexico. Salt was likely deposited across much of the basin, but few onshore salt diapirs are known. The area lay east of the Jurassic and Cretaceous shelf margins, accumulating 1500-3000 m of limestone, clay, and organic deposits in deep-water environments. Regional eastward tilting began by the Paleocene, forming the Lobo gravity slide and rafting Mesozoic sediments eastward above Jurassic salt, forming the deep Rosita and Premont troughs and intervening Mesteña raft. Compensatory compression (fold or thrust belt) must occur downdip in the Coastal Zone near the present shoreline, perhaps pushing salt into the Bravo salt diapir. Laramide folding on northwest-southeast axes affected the southern part of the basin in the Middle Eocene. Subsequent Oligocene to Miocene tilting induced the Vicksburg slide (Early Oligocene), progradation of major deltaic units, and the consequent deflation of the long, broad Bravo diapir, extrusion of the Sigsbee canopy and compression in the Perdido and Port Isabel foldbelts (Late Oligocene-Early Miocene). Continued Neogene tilting onshore created a pronounced sub-Goliad unconformity (Late Miocene) and uplifted the Bordas Escarpment (post-Miocene to Recent). Houston Geological Society https://lnkd.in/gY6RFupT

31

2 Comments

What Do Mexico’s Elections Mean for Its Natural Gas Market? Mexicans head to the polls this weekend in the biggest election in the country’s history, with over 20,000 positions up for grabs and the near certainty that citizens will elect Mexico’s first female president. Claudia Sheinbaum of the establishment Morena party is the favorite against opposition candidate Xóchitl Gálvez. Each offers a distinct vision for the country’s future. In this episode of Hub & Flow, NGI’s senior editor for Mexico and Latin America, Christopher Lenton, chats with natural gas expert Eduardo Prud’homme on both candidates’ main policy positions. They also get into the energy deficits in Mexico, U.S.-Mexico natural gas trade, and what the country’s gas market could look like under the potential future administrations, along with a lot more. https://lnkd.in/gXTKgi4

23

2 Comments

Federal Energy Regulatory Commission issued a certificate allowing Venture Global LNG to move forward with its CP2 LNG plant in #Louisiana. Read about this and other #FERC approvals issued June 27 in a detailed report from Cathy Landry, MA for Oil & Gas Journal here: https://lnkd.in/ggqBjrVg #OGJ #oilandgas #LNG #natgas #naturalgas #USLNG #regulations #energylaw

5

Just like Soylent Green, Hurricane Beryl took a lot out of the Oil and Gas industry last week… For those outside of that Gen X reference, Soylent Green…it’s people. I believe that the teeming millions know what I am getting at here.  We saw an unprecedented Power issue in Houston last week post Beryl.  Over 2.5mm people were without power until Wednesday.  After half were back on the grid, most people (including myself) were sweating it out until Sunday (RIP Richard Simmons). For all of the pundits outside of Houston that are writing about how oil prices fell as the infrastructure was left untouched by the hurricane, let’s not forget that the people that were affected by the power loss work in the Energy industry.  The ones that keep everything up (RIP Dr. Ruth) No power meant that these employees couldn't work from home.  Many may not have wanted to leave families stranded at home if they had an opportunity to get back into an air conditioned office.  Life takes priority in these things and many outside of Houston could not have understood the impact. In Texas there are over 400K people in the Oil and Gas industry.  Half of those are in the Houston area.  From the workers to the traders to the staff in between.  Markets are global, but we don’t move barrels and BTUs with AI or magic (RIP Shannen Doherty) This week most of Houston is back with the lights, internet and clean laundry.  Hedging and trading operations will be back in full force, but it’s going to be a slow start.  We’re going to get back to watching the markets and figuring out where it should be.  I’ll say this much, demand for everything Energy is not going away.  We have the supply and we’ll be demand driven from here on out.  We’ve seen an increase of nearly 2% in population growth in Houston since 2020.  That means in simple terms, there’s 6.8mm people in our metro area that are using oil, gas and electricity. It’s been a heck of a week my friends.  Let’s make Oil and Gas trading great again.  Call me with all of your needs for a better FCM.  #futures #oil #demand

27

5 Comments

Good news from the Federal Energy Regulatory Commission by authorizing Venture Global LNG’s CP2 LNG plant, terminals, and pipeline in Louisiana. Way to go! I recommend skimming through the last ~20 pages of the dissenting party’s arguments and tell me what sticks out to you. #energy #lng #cleanenergy

19

1 Comment

Safe, reliable delivery of natural gas is our greatest responsibility to you and the communities we serve. That's why we operate one of the tightest, most modern pipeline systems in the nation, and continuously meet or exceed federal safety guidelines.

47

The overwhelming vote in favor of Morena in Mexico was a vote in favor of continuity. Energy policy in the last six years has been focused on strengthening and favoring state companies: Pemex and CFE. However, reality has demonstrated the need for adequate energy infrastructure to meet the expected growth in demand. We have already seen blackouts and shortage of energy availability, limiting #nearshoring. In the electricity sector alone, official figures estimate a need of about 400M USD/year for networks. Generation capacity is required to grow by 25 GW in the next five years, an increase of more than 25% of the current (with investment of about 25B USD). CFE is already in the process of adding 9 GW of combined cycles (consuming US #naturalgas), but 12 GW of #renewable energy are needed and we don't know how will these get built. To give some context, the 3 clean energy auctions awarded about half of that. The challenge ahead is huge. President Sheinbaum will have to find a solution that will likely involve the private sector. Collaboration will be essential, since CFE alone cannot meet the operational, logistical and financial requirements.

75

3 Comments

AMI highlighted that Trinidad and Tobago is likely rooting for a Democratic victory in the 2024 U.S. elections, as Biden is cautious about environmental pressures to limit the U.S. oil and gas industry. Conversely, a potential Trump presidency could reopen U.S. natural gas exports, posing competition for Trinidad. Historically, U.S. natural gas was restricted by a lack of export terminals until Trump lifted the moratorium, allowing U.S. LNG to dominate global markets. However, AMI expressed concerns that the prospects for Trinidad’s gas market could diminish due to Venezuela’s strained relations with the U.S. https://lnkd.in/ewUgkRG4

2

There are a few things in the Oil & Gas industry that are guaranteed to stir debate. One of those is to ask two men from Southern Louisiana the best way to make a roux. The other is to ask a bunch of Well Control hands what the best media for a Junk Shot is. Ever heard of a Junk Shot? Many have not, and if you would like a detailed explanation reach out to me. I have a thorough Well Control terms and acronym glossary I put together that I can send to you. In short a Junk Shot (and there is a more colorful term) is hands down the first go to many Well Control specialists attempt when arriving on a well site with an active blowout. These are materials typically gathered on location that can be broke down that can act as a bridging agent to pump into a blowing out well. The blowout flow carry’s the material to the breeched or mechanical failure point whereupon the material bridges and when down right can create a near gas tight seal. This is a band aid so to speak, until professional Well Control operations and remediation can begin. When done early and properly a well placed Junk Shot can immediately terminate a well blowout. Back to the part of why it’s called a Junk Shot. I’ve seen mud flaps cut up and used, portions of a company many’s bed liner cut up, coveralls cut up and knotted up, gloves wadded up. And in the most extreme example we used soft balls, base balls and whole mop heads on a Frac stack failure that had a massively eroded 4-5” hole. Did it work? Absolutely it did 100%. That well was bullheaded dead and prevented well capping operations from taking place. The problem here is the material and having it ready. Imagine you’re in the PRB, it’s Sunday evening, nearest town is 2hrs drive. You see where this is going. Then once you gather the material you have to prep it. Now hours have gone by and that minor spray at the ring groove of the tubing head and lower master valve is blowing 30’ horizontally toward the other wells on the pad. It’s turned to an amazingly effective Abraive Jet Cutter! Not a good night!! We have put together a well vetted and thought out kit that comes ready to go in a 5 Gallon Premium HDPE Bucket with a Gamma Seal lid. Each EIP Junk Shot Kit contains (14) unique components that have a proven history working in emergency Well Control work. There are written instructions with contact information for access to our in house Well Control specialists on what materials to use for the Junk Shot. Additionally there is a P&ID demonstration on how to configure a simple Junk Shot loop for deployment. So, do we have a track record with these? Absolutely we do. One of our customers working in a very remote region encountered a large kick. After following protocol and shutting the well in the Upper Pipe Ram failed, then the Annular failed, then the Lower Pipe Ram failed. With the primary, secondary and tertiary BOP shut the well continued flowing at 8BPM. Not a good day!! Cont..

16

3 Comments

This is a must-read The Wall Street Journal feature on bp, the Thunder Horse platform, and Gulf of Mexico oil and gas production. The Gulf of Mexico plays a crucial role in our energy security and stability, recognized for producing some of the lowest carbon intensity barrels worldwide. American offshore energy production is vital for our national security, economic growth, and quality of life. By harnessing offshore resources efficiently and fostering responsible development, the United States can make substantial progress against climate change while ensuring global access to dependable, affordable, and sustainable energy production, all while enhancing our national security.

36

Oh, yes. We’re currently experiencing an energy crisis. The Mexicans have been kind to us for many years, providing us with cost effective energy. However it is clear that they are telling Belize to mature and stand on your own. What will we do? Go to the international arena and beg for a grant? Burden Belizeans with additional debt for a renewable project that will be dead on arrival? Oh, we can ask all of the NGOs and our ocean friends who told us to not touch our resources to provide us with reliable energy. This is shameful, a disgrace, and a complete failure. What is the plan? Cost of living is high, manufacturing cost is high, electricity is partially available, when will enough be enough? When will the NGOs and our ocean/ green friends subsidize these sectors? Who will pay for climate resilience? Who will pay for improvement and addition of energy infrastructure? WAKE UP BELIZE! Why are we listening to those who are adding giga tons of CO2 to the athmosphere daily and have no intentions of stopping? They can do it but we must sit aside dont touch our resources remain poor, dependent on them and watch them do it? Modern day slavery. WAKE UP BELIZE!

8

3 Comments

More Smokin’ Hot Deals to Be Had in the Lone Star State  Reese Energy Consulting today is following the latest buzz from the nation’s largest oil-producing state where the Texas horse trading continues among midstreamers and Eagle Ford producers. First up is Houston-based Phillips 66 (PSX), which operates a midstream powerhouse with 72,000 miles of crude oil, natural gas, and NGL pipelines, along with fractionation and gas processing—all of which serve its diverse business segment to include chemicals and refining. After a years’ long JV courtship, PSX last year acquired DCP Midstream for $3.8 billion to further beef up its NGL business following record fractionated volumes and growing export demand. The company will now add even more meat to its NGL bones in the Permian Midland with the pick-up of Pinnacle Midstream II LLC for $550 million. The deal includes the Dos Pico processing complex with 220 MMCFD of capacity, ample space for a second 220 MMCFD gas plant, and 80 miles of pipeline. In short order Houston-based WildFire Energy LLC has shrewdly executed its pure-play South Texas strategy to create the largest consolidated acreage position in the Eagle Ford. The company has now landed its fourth acquisition in three years, this time in a deal with Apache Corporation. The price was not disclosed but wraps up Apache’s non-core asset sale that fetched a total $750 million. Wildfire will gain 237,000 net acres, 11 MBOED, and interests in 465 wells. Pro forma, the company will operate 850,000 net acres, 50 MBOED, and more than 2,000 gross wells. What do you think? Learn more about REC and our crude oil, natural gas, and NGL consulting services at https://lnkd.in/ewhkGFa.

1

Decarbonization of steel manufacturing is moving forward in Louisiana.

11

The Family Jewels of South Texas Multi-generational oil and gas dynasties have long added color, dust, and sweat to Texas history. There are fewer of them now, the ones that date back more than a century. Bygone reminders of a time when families expected their heirs—and their heirs’ heirs—to keep the family business in the family in perpetuity. Then there’s the Killams. Reese Energy Consulting today is following a news nugget that piqued our attention. Not for the sprawling 6,041-acre ranch near Corpus Christi, Texas, now up for sale. But for the oilman it’s named in tribute. The O | W Ranch is owned by the Killam family, fourth-generation descendants of Oliver Windall Killam. Laredo-based Killam Oil remains a private, family-owned E&P now led by David Killam, still operating in South Texas where O.W. drilled his first well back in 1920. O.W. was 45 then, an attorney by profession, married with three kids, and a natural born achiever who couldn’t contain his restless spirit. After serving as an Okla., State Senator and successful entrepreneur, Killam sold his business and whisked his family off to Laredo to explore for oil in an area where no one had ever discovered oil. He had no related experience or education in the field, yet when that first well came up dryer than a hundred-year-old bone, Killan simply drilled a second. Then a third. And several more until he struck paydirt—that fairy tale Texas gusher producing 400 BPD, solidifying Killam as the genuine article, a South Texas wildcatter, who never knew the word “quit”. These are stories to be remembered. Those of the undaunted pioneers who refused to buckle, long before innovation and technology could help a brother out. And those of their descendants, who carry those stories forward. To that, REC salutes the enduring legacy of O.W., ever-present in the remarkable success of Killam Oil. What do you think? Learn more about REC and our oil, gas, and midstream consulting services in the Eagle Ford and South Texas at https://lnkd.in/ebXT2mS. #energy #oilandgas #entrepreneur #reeseenergyconsulting

146

9 Comments

Hat tip to Beacon Offshore Energy, for 1st oil at Winterfell (look for EOY exit rate ~20MBOED). Their focused strategy execution by successfully monetizing non-op positions to O.G. Oil & Gas Ltd., and bringing it's operated short cycle, quick return ILX asset online positions them to continue funding and focusing on delivering their larger operated development at Shenandoah. Value delivered to Kosmos Energy, Red Willow Production Company, and CSL Exploration along with the newest members of the GOM Independents Club, Westlawn Americas Offshore (WAO) and Alta Mar Energy, LLC. Oxy gets a win as well with Winterfell production tied back to the Heidelberg platform that was otherwise looking down the barrel of a near term abandonment. Bravo, Beacon Offshore Energy! https://lnkd.in/gedk4eUU #oil #energy #gulfofmexico #ilx #strategy

83

1 Comment