Charles Wilds

Paul Foster Sleeps Well in El Paso Weather temps in El Paso, Texas, today are expected to breach the 103° mark. Nothing out of the ordinary here when summer says “howdy” to West Texas and her Permian oilfields. El Paso is where billionaire oil tycoon Paul Foster lays his head at night. He was born here after all, and today the sprawling city is marked with his name on two college campuses, a downtown building, and a boutique hotel. From roughneck to refiner to oil and gas producer and investor, Foster has continued to demonstrate a Midas touch. And now the Permian E&P he co-founded just six years ago is looking like a cool dip in the pool for Delaware buyers. Reese Energy Consulting today is following the latest news on Denver-based Franklin Mountain Energy (FME), one of the largest privately held oil and gas producers in the N.M. Delaware. Following the 2017 sale of his El Paso-based Western Refinery for $5.8 billion, Foster—the founder and CEO of Franklin Mountain Investments—took only a hot minute before launching FME along with six partners in 2018. This time, diving back into the oil and gas biz as a self-funded E&P for the first 33 months with a decided mantra to not go public or invite outside investors. Instead, FME was all about finding the right asset and taking it from there. And, boy, did they find it. The newcomer to the Delaware—which no one had ever heard of—gobbled up 4,041 Delaware acres at a 2018 BLM auction. Two weeks later, FME acquired OneEnergy Partners, adding another 4,280 net acres. What began with production of 50 BOED at a then-$38 per barrel has now become 50 MBOED. The Midas Touch Man whose name is firmly etched in El Paso is now hardly a secret behind Franklin Mountain Energy—said to be among the latest Permian acquisition targets and a fine fetch in the $3 billion range. Sweet dreams, Mr. Foster. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ebXT2mS. #Energy #acquisitions #reeseenergyconsulting

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Paul Foster Sleeps Well in El Paso Weather temps in El Paso, Texas, today are expected to breach the 103° mark. Nothing out of the ordinary here when summer says “howdy” to West Texas and her Permian oilfields. El Paso is where billionaire oil tycoon Paul Foster lays his head at night. He was born here after all, and today the sprawling city is marked with his name on two college campuses, a downtown building, and a boutique hotel. From roughneck to refiner to oil and gas producer and investor, Foster has continued to demonstrate a Midas touch. And now the Permian E&P he co-founded just six years ago is looking like a cool dip in the pool for Delaware buyers. Reese Energy Consulting today is following the latest news on Denver-based Franklin Mountain Energy, LLC (FME), one of the largest privately held oil and gas producers in the N.M. Delaware. Following the 2017 sale of his El Paso-based Western Refinery for $5.8 billion, Foster—the founder and CEO of Franklin Mountain Investments—took only a hot minute before launching FME along with six partners in 2018. This time, diving back into the oil and gas biz as a self-funded E&P for the first 33 months with a decided mantra to not go public or invite outside investors. Instead, FME was all about finding the right asset and taking it from there. And, boy, did they find it. The newcomer to the Delaware—which no one had ever heard of—gobbled up 4,041 Delaware acres at a 2018 BLM auction. Two weeks later, FME acquired OneEnergy Partners, adding another 4,280 net acres. What began with production of 50 BOED at a then-$38 per barrel has now become 50 MBOED. The Midas Touch Man whose name is firmly etched in El Paso is now hardly a secret behind Franklin Mountain Energy—said to be among the latest Permian acquisition targets and a fine fetch in the $3 billion range. Sweet dreams, Mr. Foster. What do you think? Learn more about REC and our Permian oil and gas consulting services at https://lnkd.in/ewhkGFa.     

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Let the countdown begin! Only a few days before the strategic Gastech 2024 Exhibition & Conference with a focus on #naturalgas, #LNG and #hydrogen, kicks off in #Houston on September 17-20 where top energy professionals will discuss energy security, #EnergyTransition industry-wide #decarbonization, innovative #climate technologies and low carbon solutions. The conference’s three distinct programs - Strategic Leadership, Climatetech & #AI, and Hydrogen – are more topical than ever as leaders seek #sustainable solutions that help shape the future of global energy. #Gastech has revealed its unrivalled speaker lineup for 2024, including John F. Kerry, 68th US Secretary of State, Egypt’s Petroleum & Mineral Resources Minister Karim Badawi, Turkey’s Energy & Natural Resources Minister Alparslan Bayraktar, Nigeria’s State for Petroleum Resources Minister Ekperikpe Ekpo, and Indonesia’s Energy & Mineral Resources Minister Arifin Tasrif and US Assistant Secretary Bureau of Energy Resources Geoffrey Pyatt. Gastech 2024 strategic agenda will also unite top executives and leaders, including Chevron Chairman & CEO Mike Wirth, Woodside Energy Meg O’Neill, Cheniere Energy, Inc. Director, President & CEO Jack Fusco, ADNOC Group CEO Ahmed Mohamed Alebri and Aramco Ventures CEO Mahdi Aladel.

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How much have Texas oil and gas production taxes contributed to public education, the state highway fund, and the Rainy Day Fund over the past five years? It's BILLIONS. via Railroad Commission of Texas https://lnkd.in/gUMyectt #oilandgas #Crudeoil #energy #txenergy #taxes #Texas #oil

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Power to the People Starts with Natural Gas We don’t need to tell you that Texas is a study of energy contrasts—producing more fossil fuel and renewable energy than any other state in the nation. The great white hope of the energy transition is to wean us off our dependence on oil and natural gas to construct a future that’s otherwise dependent exclusively on alternative energies to ensure lifestyles and economies keep rolling along without disruption. But dramatic shifts don’t happen overnight, and in the case of power generation right now, adding more natural gas-fired capacity is the name of the game. Reese Energy Consulting today is following the latest news on how growing AI and data centers, tech manufacturing, and more electricity-consuming businesses dependent on reliable power grids, have operators adding more natural gas capacity to their baseload to prepare for what lies ahead. This, in addition to growing consumer demand for heating and cooling from utilities employing alternative energy sources like solar, wind, batteries, and in Texas, nuclear. For now, these renewables are the backup singers to lead performances mostly held by natural gas—the backbone of the state’s largest grid operator, ERCOT, which faces a shortfall of generation capacity by 2030. More power plants will be needed here and across the country to make way for ever-more consumption amid tech’s new age—and plans for more natural gas-fired power consumption are on a fast track. Texas is on top of this with its largest electricity generator, Vistra Corp., announcing it will add up to 2 GW of natural gas-fuel capacity. Entergy Texas and NRG Energy have followed suit to expand their own. What do you think? Learn more about REC and our natural gas consulting services at https://lnkd.in/ebXT2mS. For more information about our new online natural gas training courses, visit us at https://lnkd.in/g_jDyx_Y. #energy #naturalgas #reeseenergyconsulting

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Have you ever considered standardizing all aspects of your Project Control at once? A potential alternative to the Standardization of Components that Vanessa Rowe and I will be workshopping about at the Oil Sands Expo next month might be to have a Project Control Team that handles all aspects of Project Control, from Planning to Contracting, and everything in between. One Team serving all of the Teams in this regard. Something to think about. #operationalexcellence #executionexcellence #people #methodology #technology Advando

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Good news from the Federal Energy Regulatory Commission by authorizing Venture Global LNG’s CP2 LNG plant, terminals, and pipeline in Louisiana. Way to go! I recommend skimming through the last ~20 pages of the dissenting party’s arguments and tell me what sticks out to you. #energy #lng #cleanenergy

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