Page 11 - NorthAmOil Week 40 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

long-term produced water gathering and contract is another important step in the Neoflow. “This ground-breaking technology
disposal agreement with a premier Permian maturity of our water midstream business will enable a close to real-time supply chain
operator in the Midland Basin. Financial and allows us to access more acreage and view of these two important commodities
terms of the agreement were not disclosed. customers with our ESG-friendly water reuse, representing approximately $100bn annually
The agreement will add approximately gathering and disposal solutions.” in Canadian imports into the United States.”
12,000 acres of core Tier 1 acreage to Gravity’s GRAVITY, October 04, 2022 To accomplish this, Neoflow is working
industry leading Midland Basin commercial with US Customs and Border Protection
position and is forecasted to add over 50 US DHS makes Phase 3 (CBP) and companies in the oil and natural
million barrels of produced water in near- gas sector.
term development. To service the contract, contract award to Neoflow, SVIP is one of S&T’s programmes and
Gravity will be constructing new pipelines tools to fund innovation and work with
transporting a minimum of 50,000 bpd of an energy blockchain private sector partners to advance homeland
produced water for delivery into its Midland security solutions. Companies participating in
Basin Super System, which has more than company SVIP are eligible for non-dilutive funding over
500,000 bpd of permitted disposal capacity four phases to develop and adapt commercial
among 16 interconnected saltwater disposal The US Department of Homeland Security technologies for homeland security use cases.
wells and over 1 million bpd of sourcing (DHS) Science and Technology Directorate’s NEOFLOW, October 04, 2022
capacity. The new pipelines will allow for (S&T) Silicon Valley Innovation Program
bilateral flow of produced water to the (SVIP) awarded a Phase 3 contract to
customer for reuse on future completions Neoflow. The contract will further the MOVES
planned on the committed acreage, reducing development of the Neoflow Platform for
the demand for fresh water in the area. Natural Gas (Phase 3) – following the steps Surge Energy America
“We are pleased with the performance of the existing contract for crude oil, awarded
of our Midland Basin Super System, which early this year. The contract was awarded announces increased
recently processed over 600,000 bpd of water under the auspices of the DHS Preventing
for sourcing, reuse, gathering and disposal Forgery & Counterfeiting of Certificates borrowing base of revolving
operations. This new contract expands our and Licenses solicitation. The solicitation
water midstream solutions into a new core supports the development of standards- credit facility to $1.75bn
area of the Midland Basin, adding a significant based technologies to continue DHS’s efforts
amount of undrilled inventory to facilitate our in utilising Verifiable Credentials (W3C) Surge Energy US Holdings announces an
future organic growth,” stated Trace Hight, and distributed ledger technology (DLT) to increased borrowing base from $1.5bn to
Gravity’s chief commercial officer of water modernise operations. $1.75bn on the company’s revolving credit
midstream. The work is a continuation of a thorough facility.
Gravity owns and manages more than process that began in 2019. The Neoflow The increase is in connection with the
50 active saltwater disposal wells with more platform will digitally trace Natural Gas and credit facility’s regularly scheduled semi-
than 1.5 million bbls/d of permitted disposal Oil as it moves through the supply chain annual redetermination that recently closed.
capacity in the United States. With the between Canada and the United States using Elected commitments remained unchanged at
addition of its cost-effective produced water innovative technologies such as distributed $935mn.
reuse services, Gravity has provided over ledger technology, Verifiable Credentials and “Surge appreciates the continued support
150 million barrels of midstream sourcing, decentralised identifiers. from our bank group,” stated chief financial
reuse, gathering and disposal water solutions “I am pleased with the validation of officer James Welch. “We believe the results of
in multiple Basins to its customers to date in the Neoflow platform that this contract this redetermination are another example of
2022. represents. This is recognition of the effort the quality of our people and the continued
“It is exciting to see the continued of our industry and DHS partners and the development and growth of our asset base.”
organic growth in our Midland Basin water Neoflow team to develop a technology will SURGE ENERGY US HOLDINGS, October 03,
midstream system,” said Rob Rice, Gravity’s modernise the cross-border movement of oil 2022
president and chief executive officer. “This and natural gas”, said Jim Oosterbaan, CEO of

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