Black Mountain Oil & Gas

We’re pleased to welcome Austin Coffey as our new Director of Finance at Black Mountain! With nearly a decade of experience, including roles at Split Rock Resources and U.S. Energy Development Corporation, Austin has evaluated over $2.5 billion in acquisitions and brings strong expertise in corporate finance, hedging, and investor relations. A graduate of Oklahoma State University, Austin is a much anticipated addition to our team. We’re excited to have you on board, Austin!

Thoughts? Interesting timing of this article today. Proposed NM drilling restrictions that could cut future oil output by 5.4%, cost billions in revenue, and impact a third of the new wells. This amounts to roughly 12.5 million barrels of oil output lost in the first year, and around 35 million barrels by the early 2030s. Production value lost would peak at around $4.5 billion annually by 2034. #OOTT #oilandgas #newmexico https://lnkd.in/gGnAVfe6

We are told that electrifying everything is needed for climate change. But the reality is that it’s terrible for energy security. It’s also more expensive. The DOE’s own numbers show electricity costs more than 3x more than nat gas on an energy equivalent basis.  #electricity #alternativeenergy #electricgrid #solar #wind #gas #nuclear #climate #climatechange For more energy and power content, subscribe to my Substack: https://lnkd.in/gz_Au2RU

Do you want to join me in an energy book club starting in January? I’m looking for 10 to 15 people that want to make this happen. I expect to take about 6 weeks to read whatever book we select first. My initial thought is to meet 2 or 3 times per book, or about once every 2 or 3 weeks. We can do virtual meetings for book discussion, and if multiple of us are here in Houston, we can maybe get together for a miniature celebration in person after we finish the book. (Then, ideally, we’d do it all over again with a second book. Some folks can drop out. Some can continue along for the next book. I’ll make a call for new folks to try to keep the numbers more or less flat as we go.) Once we get a group together, we can choose what book we want to launch with. I don’t want to bias the book selection, but here are some that I’m personally considering: • The War Below: Lithium, Copper, and the Global Battle to Power Our Lives (2024) • Material World: The Six Raw Materials That Shape Modern Civilization by Ed Conway (2023) • The World for Sale: Money, Power, and the Traders Who Barter the Earth’s Resources by Javier Blas and Jack Farchy (2022) • Volt Rush: The Winners and Losers in the Race to Go Green by Henry Sanderson (2022) • The New Map: Energy, Climate, and the Clash of Nations by Daniel Yergin (2021) • Energy: A Human History by Richard Rhodes (2019) • Energy and Civilization: A History by Vaclav Smil (2018) These are all broad-based energy books. Of course we can add books on specific topics like oil & gas, nuclear, hydro, solar, wind, batteries, etc. We could also add biographies of famous folks in the energy space. We could also add books written by energy leaders. The sky’s the limit here. If you’re interested, comment below and/or send me a direct message. I’ll find a way for a group of us to communicate so we can choose a book, set a schedule, etc. Thanks! #energy #bookclub #ksg

This might not be the only refinery closing with Newsom signing ABX2-1 bill earlier this week. Article in the comments below

"Any policy that would “keep it in the ground” is not just."

U.S. per capita CO2 emissions have fallen below WWI levels. You won't hear about this in the mainstream media today. You can thank fracking for the achievement. Not quite the bogeyman they have tried to make it out to be. #NaturalGas #CO2 #cleanenergy #energytransition

Fore-ward Together 🏌️ Proud to support the New Mexico Oil & Gas Association and their dedication to safe and responsible development of #oilandgas. 📸: Chase Bradley, CPL Jonathan Ney Gary Box Ken Sapien

What does this mean for the oil and gas industry? If the strike lingers, it could shake up the oil and gas sector, especially affecting the supply chain, leading to shortages and price hikes. According to Adam Ferrari, CEO of Phoenix Capital Group, while there may not be an immediate impact, the strike could trigger broader economic challenges, including market uncertainty and possible regulatory changes. The PRICE Futures Group, Inc.'s Phil Flynn noted that although the strike affects container ships, oil tankers and LNG remain unaffected and fuels like home heating oil and diesel won't see an impact. However, if the strike lasts beyond a week, it could lead to shortages of goods, shutdowns, and further recessionary pressures, weakening oil and gas demand. Economic estimates suggest the strike could cost the U.S. economy between $2 billion and $4 billion a day. However, the overall economic toll may remain a small fraction of the $29 trillion U.S. economy. Is there an immediate concern for the oil and gas industry? No, but the situation could change if the strike persists. We think this can, and will, come to an amicable solution. Hopefully soon.