James DeBartolomeis

9/23 END OF DAY REPORT FROM Primary Vision - Frac Spread Count WTI barely moved today. Everything downstream of it didn't get the memo. 1️⃣ WTI $92.23 (+0.08%), Brent $103.1 (+3.86%), Natural Gas $3.040 (+0.56%). Notable split today, WTI barely moved while Brent jumped nearly 4%, international benchmarks feeling the supply-chain strain more than domestic crude right now. 2️⃣ Trump endorsed a 90-day ban on US diesel exports Tuesday, aimed at record-high domestic diesel prices. New S&P Global analysis (take this one with a grain of salt, it's their read, not ours) argues it'd backfire: US refiners lack the pipeline capacity to move all that Gulf Coast diesel to every domestic market, so a full ban would actually force run rates down more than 10%, filling limited storage instead of selling, and pushing prices higher both here and globally once US barrels leave the export market. Their alternative: a limited export quota instead of a full ban, less disruptive, but much harder to actually implement. 3️⃣ We're getting ready to launch our Frac Efficiency Index. Here's the simple version: crews with fewer frac spreads are getting more work done than they used to, and it's been true for years, not just a lucky month. Even as fewer spreads were out working, US oil production stayed near record highs. That means the industry got more efficient at turning equipment into finished wells. We also added a weekly check-in feature, so instead of waiting a whole month to see if something's changing, you can catch it as it happens. Message me if you'd like to get a first look. #oott #WTI #fracspreadcount #oil #gas

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Kinder Morgan exceeded fourth-quarter earnings expectations as higher natural gas volumes flowed through its pipeline network, driven by Permian production growth and rising LNG and power-sector demand. https://ow.ly/jWGF50Y1nBy

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Devon Energy's recent commitment to a large-diameter natural gas pipeline from the Permian Basin to the Texas Gulf Coast marks a strategic pivot that could reshape its standing within the Russell 1000 index. This move reflects a broader industry trend where regulatory timelines and infrastructure ownership increasingly dictate production and capital allocation decisions, rather than geology alone. The pipeline joint venture, with Devon holding a quarter equity stake, addresses a chronic bottleneck in Permian gas takeaway capacity—a constraint that has historically depressed regional gas prices and forced production curtailments due to flaring restrictions. By securing firm transportation capacity to the Gulf Coast, Devon not only mitigates downside risks associated with regional pricing collapses but also positions itself to capture value from growing export and domestic demand hubs, which are increasingly linked to international pricing benchmarks. This infrastructure ownership aligns with Devon’s integrated approach to the Delaware Basin, following earlier investments in water handling and power generation to internalize key operational constraints. Such capital-intensive commitments convert recurring costs into assets, providing a hedge against market volatility and regulatory shifts. The strategic timing coincides with geopolitical tensions sustaining crude price premiums, while the sector’s focus on capital discipline and balance sheet strength underscores the importance of managing long-term obligations like pipeline equity stakes. Devon’s diversified producing base and infrastructure strategy offer structural support amid uncertainties including permitting, emissions regulations, and elevated financing costs. This development echoes broader structural themes in the oil and gas sector, where global oil reserves are in decline, underscoring the value of securing efficient, reliable infrastructure to maximize resource monetization. It also parallels lessons from major 21st-century discoveries, where integrated infrastructure has been critical to unlocking full field potential. Meanwhile, recent ReconAfrica updates highlight the ongoing importance of navigating regulatory and operational challenges to realize resource value, reinforcing the prudence of Devon’s approach. Disclosure: The owner of this account and affiliated entities hold a financial interest in one or more companies referenced in this post. For informational purposes only; not investment advice. Read More: https://lnkd.in/eimY4cFT #OilAndGas #PermianBasin #EnergyInfrastructure

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A prolonged Hormuz shutdown could remove over 20M bpd from global markets, with only ~10M bpd replaceable via SPR releases and pipelines. That leaves a massive supply gap, risking sustained price spikes and demand destruction. #Oil #EnergyCrisis #Hormuz https://lnkd.in/eeHzjdZb

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Houston-based Targa Resources has announced it is planning to buy Permian basin pipeline operator Stakeholder Midstream, LLC for $1.25 billion. https://lnkd.in/dyk95Azw

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Flowco’s $200 million acquisition of Valiant adds ESP muscle in the Permian and highlights OFS M&A to gain scale amid industry consolidation.

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Built with purpose. Designed for performance. Liberty Energy’s digiTechnologies form a modular system for modern completions. Backed by real-time data, AI, and predictive maintenance, the suite is designed to support reliable power and smarter operations across the frac site. Thanks for following along with the digiTechnologies series. The full series is available on our YouTube channel. https://lnkd.in/gMvWPafp #LibertyEnergy #digiTechnologies #EnergyInnovation #FracTechnology #BDEC

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