American Oil and Gas Reporter - July 2023 - 51
passed in June, he says, affirming it as a
way to allow for Mountain Valley Pipeline
construction and as an early step in federal
permitting reform.
Meanwhile, TIPRO continues to speak
up for smaller producers likely to bear
the brunt of the U.S. Environmental Protection
Agency's latest iteration of its
proposed regulation governing methane
emissions from oil and gas sites, Longanecker
says. Although some large companies
may barely notice the rule's effect
on their bottom lines, the potential compliance
costs for smaller operators without
in-house expertise may entail major increases
in operating expenses, he warns.
The proposal's latest version incorporates
the flawed assumption that pneumatic
devices are always active and leaking
methane, Walker says, but field experience
demonstrates otherwise. " It is going to
be very punitive to small and midsize
operators, especially those with large
well counts, " he assesses.
Although provisions in HR 5376, the
" Inflation Reduction Act " that Biden
signed last August, include benefits for
carbon capture storage, the law's methane
tax punishes smaller operators in TIPRO's
ranks, Longanecker maintains. He says
one TIPRO member in Fort Worth has
calculated that Phase 3's $1,500 per metric-ton
levy, which takes effective in
2026, will cost his business $2.9 million
a year without including expenses for an
environmental consultant or monitoring.
This levy is excessive for small businesses,
Longanecker emphasizes, and is based
on EPA-mandated calculations that do
not represent actual leak rates.
In an effort to counter the industry's
opponents, TIPRO continues to expand
its Texans for Natural Gas campaign to
get the word out about the industry's
successful efforts to reduce emissions
and its many economic contributions,
Longanecker says.
TIPRO took over the campaign two
years ago and now has more than 400,000
supporters across the state, as well as
300,000 followers on Facebook, he says.
The campaign website, www.texansfornaturalgas.com,
includes segments on hydraulic
fracturing and other industry operations,
addresses inaccurate rumors,
and offers details about the industry
through studies and reports.
" The next generation doesn't know
much about the industry and is being fed
a significant amount of misinformation
on oil and gas, so we need to do a better
job of telling our story, taking the narrative
back for our industry, and committing
the time and resources to achieve that, "
Longanecker says.
Summer Conference
The theme of TIPRO's summer conference
will center on industry innovation.
Walker says the gathering is special because
members bring their families and enjoy
spending time with fellow TIPRO members.
He recalls first accompanying his father to
the conference decades ago. " That was
really my first exposure to the industry and
the people involved in it, so we hope that a
lot of folks show up, " he says. " We are
rounding out a good lineup of speakers. "
The conference kicks off with an evening
welcome reception on Aug. 9, followed
by a full day of presentations and the
Chairman's Dinner on Aug. 10. Attendees
also have the option to golf on August 11.
In addition to remarks from policymakers
and Walker, speakers will include
RRC Commissioner Wayne Christian,
Longanecker reports. The program will
focus especially on capital and private
equity trends and opportunities. He notes
that Patrick McWilliams, a partner with
NGP Energy Capital, and Walker Moody,
president of energy financial services firm
Pickering Energy Partners, will discuss
private equity trends and opportunities. J.
Marshall Adkins, senior managing director
and head of energy investment banking
at Raymond James, will provide an oil
and gas market outlook, he adds.
❒
Harvest Midstream Closes Paradigm Deal
HOUSTON-Harvest Midstream
says it has closed its acquisition of Paradigm
Midstream.
" We are pleased to complete this transaction, "
says Harvest Chief Executive
Officer Jason C. Rebrook. " The addition
of the Paradigm systems will enable us
to further expand our services in the
Eagle Ford and develop new long-term
relationships in North Dakota. "
According to Harvest, the systems include
four wholly owned gathering systems
known as the Charlson gathering
system, Van Hook gathering system,
Mountrail gathering system and Eagle
Ford gathering system. In total, the systems
transport more than 110,000 barrels of
oil and 75 million cubic feet of natural
gas a day, and include approximately 350
miles of trunk lines and gathering lines
for oil, gas and water.
Harvest notes that the purchase also
includes Paradigm's ownership interest
in two joint ventures with Phillips 66.
The joint ventures own all the Keene and
Palermo storage terminals and 99% of
the Sacagawea crude lines and the Blue
Buttes gas line.
r
JULY 2023 51
https://www.texansfornaturalgas.com/
https://www.texansfornaturalgas.com/
http://www.rodguides.com
American Oil and Gas Reporter - July 2023
Table of Contents for the Digital Edition of American Oil and Gas Reporter - July 2023
Contents
American Oil and Gas Reporter - July 2023 - Intro
American Oil and Gas Reporter - July 2023 - Cover1
American Oil and Gas Reporter - July 2023 - Cover2
American Oil and Gas Reporter - July 2023 - Contents
American Oil and Gas Reporter - July 2023 - 4
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American Oil and Gas Reporter - July 2023 - Cover3
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