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Started By
Message
re: Natural gas producers in TX paying people to take supply as prices sink deeper negative
Posted on 4/28/24 at 7:45 am to Tasseo
Posted on 4/28/24 at 7:45 am to Tasseo
quote:
They already are. Apparently TX has to pay them millions to stop mining when their are power concerns.
You post doesn’t make sense, why would Texas have to pay mobile miners millions when there’s power shortage when these mobile miners wouldn’t be connected to the grid, just nat gas generators? I don’t think you understand how mining BTC with flare gas or trapped natural gas works.
Yes Texas has massive grid powered BTC mining companies that shed load to help the grid during tight times. Has nothing to do with this topic at hand
1
Posted on 4/28/24 at 8:03 am to ragincajun03
We should be building nat gas distribution to every house in the country.
Posted on 4/28/24 at 11:03 am to TigerTatorTots
Most bit coin mining in Tx is installed pre-interconnection point. They were originally designed to run off wind and solar that were having to curtail and essentially just a way to run them at full utilization and make some money. The economics fluctuate though and it’s really up to the asset owner, nextera being the biggest, to decide where they can make money. And it’s not always the most economical to sell power on the wholesale market.
Posted on 4/28/24 at 11:16 am to TigerTatorTots
A bunch of these idiots were looking for deals on natural gas powered electricity generations from stranded wells. That was several years ago. Nary a one of them had any money. Everyone in the surplus market has stopped taking their calls and requests.
Posted on 4/30/24 at 9:48 pm to PGAOLDBawNeVaBroke
I mean I guess?
The point was NG is a by product of crude extraction particularly in west Texas and Permian also a product of refining. Better NG pricing would push up crude pricing.
The point was NG is a by product of crude extraction particularly in west Texas and Permian also a product of refining. Better NG pricing would push up crude pricing.
Posted on 4/30/24 at 10:21 pm to ragincajun03
the dirty side of this is the production is more and more sour and the costs of treating H2S is becoming more expensive
Posted on 4/30/24 at 11:20 pm to supatigah
quote:
the dirty side of this is the production is more and more sour and the costs of treating H2S is becoming more expensive
Seriously, by sour do you mean above 0.5% or say like heavy crudes at 3.5% sulfur? The biggest cost is due much of it is very light 56-60 API gravity which causes the main crude column to be flooded with light ends and reduces its capacity by around 30% or more. From a friend who is installing paraffin wax removal units in mostly Eagle Ford, his design. They are getting more than $40 at the wellhead due paraffin wax content. Another issue is that European refineries aren't used to iron content which poisons hydrotreater catalysts. and from the same well pad in the same formation, some wells have iron contamination and other don't.
Bakken is rather gassy as well which causes issues with transportation. Conoco in Lake Charles had this issue when it switched from importing Libyan due sanctions to importing Brent in the early 1980's Tanker took twice as long because the ship's cargo pumps would get vapor locked if pumping at full capacity.
Posted on 5/1/24 at 5:42 am to ragincajun03
quote:
Prices in West Texas have been negative as low demand for the heating fuel has combined with strong production. That means producers are paying someone to take gas off their hands.
And yet we are still pushing this overly expensive green energy grid bullshite.
We could have the cheapest electricity in the world for decades yet we are actively choosing not to use domestic energy.
Posted on 5/1/24 at 6:10 am to CitizenK
And they say NG is hard to process and transport!
Posted on 5/1/24 at 10:18 am to sneakytiger
There are oil wells with associated gas where it is too expensive to lay a pipeline to. Thus, it must burned in some manner to pump the oil. It's basically free to the buyer.
Posted on 5/1/24 at 10:20 am to billjamin
The WaHa hub went positive for two days last week but then went back negative.
Posted on 5/1/24 at 10:21 am to ragincajun03
In the good ole days (2013ish) we just lit it on fire, thanks EPA
Posted on 5/1/24 at 3:33 pm to ShaneTheLegLechler
quote:
In the good ole days (2013ish) we just lit it on fire, thanks EPA
Texas DEQ not the US EPA. FWIW, Texas air emissions standards are about the same as CA, NY, ND and Ontario. The difference is that TX's standards are not for each individual item in processing and manufacturing plants.
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