Keith A Ferguson

As an oil and gas professional who loves doing technical work, the lack of clear, actionable information frustrated me as I navigated multiple acquisitions. That's why Geoffrey Cann, Chris Stasiuk and I opened the curtain to reveal what goes on behind the scenes as executives and consultants execute the plan this past Friday on the latest Engineer Career Pivot masterclass. Participants learned 🛢️ Why there are so many deals going right now 🛢️ Which projects and teams are at most risk of getting dumped unexpectedly 🛢️ The 3 key things you can do right now to take control of your career while you're waiting on the deal to close They also got the recording they can share with others inside their company. I'm passionate about the importance of energy talent. You deserve to spend your career working on the most interesting projects without the fear of being downsized or outsourced ever again!

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Chevron and TG Natural Resources Look to Make a Haynesville Deal Houston-based TG Natural Resources LLC (TGNR) isn’t that shy kid in the back of a classroom scratching his head. Not when opportunities arise to expand its Haynesville position—a steady work in progress since 2020. That’s the year Japan’s Tokyo Gas bought a controlling stake in now Castleton Commodities International for $620 million in its first acquisition of a shale gas operator. Assets included 222,400 net acres and 295 MMCFD in the Haynesville and Cotton Valley. Tokyo Gas, the largest utility company in Japan, now owns 93% of TGNR and has made no bones about its pure-play ambitions in the nation’s third-largest natural gas field. These, in the name of savvy acquisitions with LNG destinations. Reese Energy Consulting today is following the latest from the Haynesville, where Chevron last November dangled a carrot to sell 70,000 mostly undeveloped acres in Panola County, Texas, following its $53 billion pick up of Hess Corporation. Tick, tick, tick on that sale for nearly a year as gas prices ate dirt and Chevron paused drilling there. Still, there were watchers in Panola County. Those with their own strategies to produce gas to feed Gulf Coast LNG facilities. One of them was TGNR. Chevron is now reportedly in talks with TGNR in what could be a $1 billion deal for its Panola County, Texas, assets. And what a dandy to be had for TG, the largest gas producer in Panola, reporting 123.6 MMCFD as of July. A Chevron deal would mark TGNR’s second Haynesville acquisition inside a year. The company last December gobbled up ROCKCLIFF ENERGY  for $2.7 billion, which added 270,000 acres in the Haynesville and nearly quadrupled its production with 1.3 BCFD. As far as more acquisition here, you can bet TGNR will be watching. What do you think? Learn more about REC and our natural gas and LNG consulting services at https://lnkd.in/ebXT2mS. For more information about our latest online natural gas training courses, visit us at https://lnkd.in/g_jDyx_Y. #energy #naturalgas #acquisitions #Haynesville #reeseenergyconsulting

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ONEOK is buying a set of NGL pipelines for $280 million. The announcement says a lot about contemporary oil & gas strategy. Let’s start with the corporate speak: ====== "This strategic acquisition provides the quickest pipeline connectivity to and within the critical supply and demand centers for our NGLs, refined products and crude oil assets in the Gulf Coast," said Pierce H. Norton II, ONEOK president and chief executive officer. ====== The word “quickest” is incredibly important here. As I’ve remarked before, today’s oil & gas industry is all about time to value. Investors have no patience for future windfalls. The future is way too uncertain. They want to see value today, and often that value is from increased cash flows, a fraction of which go directly to shareholders. You can compare this path – buying existing assets – with the alternative of building your own new pipeline system. Building new systems can be expensive, slow (because of permitting and just general construction limitations), and risky. It’s much easier to buy something in place and integrate it in short order. That’s what ONEOK is committing to do. Another critically important part of the above quote is the mention of the Gulf Coast. Again, with uncertainty at unprecedented levels across the oil & gas landscape, investors prefer a geographical concentration in the most resilient areas of supply and demand. The Gulf Coast certainly qualifies. The Gulf Coast has existing infrastructure, access to land- and water-based distribution networks, and operational efficiencies that will allow it to remain competitive far longer than other, less favorable marketplaces. What then did we learn about contemporary oil & gas strategy from this ONEOK announcement? ➊ Moderate, tangible value today is worth much more than potentially larger, more speculative value in the future. ➋ The Gulf Coast should be one of the last regions to become stranded as decarbonization momentum builds. Investment there is preferred. ONEOK’s move here is showing us why “consolidation” is the name of the game in oil & gas today. #energy #oilandgas #ksg 𝘗.𝘚. 𝘈𝘵 𝘒𝘚𝘎, 𝘐 𝘩𝘦𝘭𝘱 𝘦𝘯𝘦𝘳𝘨𝘺 𝘢𝘯𝘥 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘪𝘢𝘭 𝘭𝘦𝘢𝘥𝘦𝘳𝘴 𝘯𝘢𝘷𝘪𝘨𝘢𝘵𝘦 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘮𝘢𝘳𝘬𝘦𝘵𝘴 𝘢𝘯𝘥 𝘦𝘮𝘱𝘰𝘸𝘦𝘳 𝘵𝘩𝘦𝘮 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘵𝘰𝘰𝘭𝘴 𝘢𝘯𝘥 𝘪𝘯𝘴𝘪𝘨𝘩𝘵𝘴 𝘵𝘩𝘦𝘺 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘣𝘶𝘪𝘭𝘥 𝘵𝘩𝘳𝘪𝘷𝘪𝘯𝘨 𝘢𝘯𝘥 𝘳𝘦𝘴𝘪𝘭𝘪𝘦𝘯𝘵 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴. 𝘐𝘧 𝘺𝘰𝘶 𝘩𝘢𝘷𝘦 𝘯𝘦𝘦𝘥𝘴 𝘢𝘳𝘰𝘶𝘯𝘥 𝘮𝘢𝘳𝘬𝘦𝘵 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩, 𝘱𝘳𝘪𝘤𝘪𝘯𝘨 & 𝘱𝘳𝘰𝘧𝘪𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘢𝘯𝘢𝘭𝘺𝘴𝘪𝘴, 𝘰𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘤𝘶𝘮𝘦𝘯 𝘵𝘳𝘢𝘪𝘯𝘪𝘯𝘨 & 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵, 𝘴𝘦𝘯𝘥 𝘮𝘦 𝘢 𝘯𝘰𝘵𝘦. 𝘐’𝘥 𝘭𝘰𝘷𝘦 𝘵𝘰 𝘥𝘪𝘴𝘤𝘶𝘴𝘴 𝘪𝘧 𝘪𝘵 𝘮𝘢𝘬𝘦𝘴 𝘴𝘦𝘯𝘴𝘦 𝘧𝘰𝘳 𝘶𝘴 𝘵𝘰 𝘤𝘰𝘭𝘭𝘢𝘣𝘰𝘳𝘢𝘵𝘦. https://lnkd.in/gtSQCFvt

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In the U.S., where horizontal wells dominate unconventional reservoirs, finding wells with completions fully sanded off is not uncommon. When I ask industry colleagues and customers how they handle such wells, many mention traditional methods like explosive or chemical cutters. However, these approaches aren’t always the most efficient or cost-effective. Surprisingly, a common alternative is simply delaying intervention and doing nothing, due to concerns about higher-than-normal failure rates. Neither option is great. MCR's Radial Cutting Torch, with its proprietary thermite mix, could be the hidden gem for solving these issues. Reach out to see if our pipe recovery tools can help resolve your challenging well situations. #RCT, #radialcuttingtorch, #piperecovery, #technologrock, #horizontalwells, #unconventionalreservoirs

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Paul Foster Sleeps Well in El Paso Weather temps in El Paso, Texas, today are expected to breach the 103° mark. Nothing out of the ordinary here when summer says “howdy” to West Texas and her Permian oilfields. El Paso is where billionaire oil tycoon Paul Foster lays his head at night. He was born here after all, and today the sprawling city is marked with his name on two college campuses, a downtown building, and a boutique hotel. From roughneck to refiner to oil and gas producer and investor, Foster has continued to demonstrate a Midas touch. And now the Permian E&P he co-founded just six years ago is looking like a cool dip in the pool for Delaware buyers. Reese Energy Consulting today is following the latest news on Denver-based Franklin Mountain Energy (FME), one of the largest privately held oil and gas producers in the N.M. Delaware. Following the 2017 sale of his El Paso-based Western Refinery for $5.8 billion, Foster—the founder and CEO of Franklin Mountain Investments—took only a hot minute before launching FME along with six partners in 2018. This time, diving back into the oil and gas biz as a self-funded E&P for the first 33 months with a decided mantra to not go public or invite outside investors. Instead, FME was all about finding the right asset and taking it from there. And, boy, did they find it. The newcomer to the Delaware—which no one had ever heard of—gobbled up 4,041 Delaware acres at a 2018 BLM auction. Two weeks later, FME acquired OneEnergy Partners, adding another 4,280 net acres. What began with production of 50 BOED at a then-$38 per barrel has now become 50 MBOED. The Midas Touch Man whose name is firmly etched in El Paso is now hardly a secret behind Franklin Mountain Energy—said to be among the latest Permian acquisition targets and a fine fetch in the $3 billion range. Sweet dreams, Mr. Foster. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ebXT2mS. #Energy #acquisitions #reeseenergyconsulting

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