Newsletter No. 93
Good afternoon,
It is Thursday, December 5, 2024 and here is another edition of The Upside where I bring you the latest updates on the oil and gas industry, including what’s happening here at King.
This Week's Headlines
- Building a $1.2B Private Equity Firm & Investing with Giants on The Jay Young Show
- 'Tis the Season for Giving
- Blog: Opportunities for Texas Operators in Growing Natural Gas Demand
- OPEC+ Members to Extend Oil Cuts
- Shell Scales Back Offshore Wind Plans and Restructures Power Division
- New Drilling Showing Promising Results in Barnett Shale
- Exxon Taps Former GM President to Lead Oil and Gas Division
- FERC Approves Kinder Morgan’s Texas-Louisiana Gas Project
Global Oil & Gas News
New Drilling Showing Promising Results in Barnett Shale
Early drilling in the Barnett Shale, located in the Midland Basin of Texas, is showing promising results, especially in the Andrews County area. Steven Jolley, Permian Basin Technology Manager at Halliburton, explained that this region offers untapped potential, with operators finding high-quality wells deeper than the more commonly drilled Wolfcamp formation. The Barnett has been largely overlooked, so this presents a great opportunity for operators to explore new drilling areas. Jolley also mentioned that new technologies, like fiber optics and sensors, are helping improve drilling efficiency and allowing operators to better understand the reservoirs they are tapping into.
Exxon Taps Former GM President to Lead Oil and Gas Division
Exxon Mobil has appointed Dan Ammann, the former president of General Motors, to run its oil and gas business starting in February 2025. Ammann, who joined Exxon in 2022 to oversee its clean energy efforts, will replace Liam Mallon. The move is part of Exxon’s plan to bring in fresh leadership from outside the oil industry. Barry Engle, another ex-GM executive, will take charge of Exxon's clean energy unit.
Move to Watch
FERC Approves Kinder Morgan’s Texas-Louisiana Gas Project
The Federal Energy Regulatory Commission (FERC) has given the green light for Kinder Morgan to build a new pipeline project in Texas and Louisiana. The project will help bring more natural gas from key areas to meet the growing demand for energy, especially for liquefied natural gas (LNG) exports. It will add more capacity to deliver gas, with enough space to transport a significant amount of gas daily to the Gulf Coast.
HAPPENING AT KING
Building a Multi-Billion-Dollar Private Equity Firm & Investing with Giants on The Jay Young Show
In this episode of The Jay Young Show, co-host Jordan Soto and I interviewed Jehangir Raja, a Wall Street veteran and founder of JR Dallas Wealth Management, who shared his journey of building a private equity firm that raised and managed $1.2 billion within a year and currently manages over $4 billion, co-investing with giants like KKR and Carlyle Group, and offering invaluable entrepreneurial lessons from his 26 years of experience in investment management and private equity. Watch on YouTube, Rumble, or directly on our website.
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Episodes you might have missed
Here are some recent episodes to watch:
- June Hunt, daughter of oil tycoon H. L. Hunt and a dedicated advocate for biblical counseling. PART 1, PART 2
- Floyd McLendon, former U.S. Navy Seal, a published author, and a sought-after motivational speaker. WATCH
- Barry Arnold, the co-founder of Boisson and the visionary behind Bardelia, a groundbreaking new venture in the non-alcoholic beverage industry. WATCH
'Tis the Season for Giving
This holiday season, the King Family truly felt the spirit of giving. In recognition of the hardship, loss, and challenges so many families are facing, both here and around the world, we wanted to do our part in spreading hope and joy. This year, we focused on supporting Samaritan's Purse, participating in Operation Christmas Child to bring joy to children across the globe. Each year, Samaritan's Purse collects and distributes millions of shoebox gifts to children in nearly 170 countries and territories. We were also grateful to contribute to Prestonwood Pregnancy Center's incredible work. If you’d like to learn more or find ways to support these organizations, we invite you to visit their sites and join us in making a difference.
Blog: Opportunities for Texas Operators in Growing Natural Gas Demand
We’ve just posted a new blog on our website discussing the growing demand for natural gas, particularly driven by rising LNG exports, and the exciting opportunities this creates for Texas oil and gas operators. With natural gas exports at a 10-month high and Texas’ Permian Basin seeing increased production, there are plenty of prospects for companies to grow their market share and boost returns.
Also, please let us know how we are doing at King Operating Corporation. Leave a review here.
Thank you for your continued support, and if you have any questions for myself or any member of the King team, please don't hesitate to reach out.
All the best,
Jay
