NAPE recap
opportunities . The REP hosted three education sessions on Thursday .
In “ Renewables : It ’ s Not Texas ’ First Rodeo ,” Marcelo Ortega , senior renewables analyst at Rystad Energy , highlighted that Texas is not only the oil and gas capital of the world but is in fact an all-energy capital .
“ The Lone Star State has a long history with renewable energy and a key role to play in the energy transition ,” she said .
In “ Opposites Attract : How Oil & Gas and Renewables + Storage Are the Perfect Match ,” Danielle Garbien and Jared Berg , attorneys at Bracewell LLP , shared how traditional oil and gas companies are embracing clean energy alternatives to power recovery operations .
“ Oil and gas producers are distinctively positioned to benefit from the implementation and utilization of battery storage systems and renewable technologies to power their operations at all stages of oil and gas recovery ,” Garbien said . Read their article on how oil and gas companies are
NAPE supports the Houston Police Department Mounted Patrol Unit by sponsoring “ NAPE Dealmaker .” The quarter horse greeted NAPE-goers as they arrived at the GRB . ( Photo by Caleb Rogers ) embracing renewables and battery storage to meet global climate commitments on page 41 .
In “ Financing Tax Equity in the Post-IRA World ,” Jim Cole , transactional tax partner at Latham & Watkins LLP , addressed the Inflation Reduction Act ’ s impact on tax incentives for wind , solar , hydrogen and other clean energy projects . He also discussed how carbon capture tax credit rules are simplified and expanded and provided insights on the new tax credit transfer regimes .
BITCOIN MINING PAVILION
New for 2023 , the Bitcoin Mining Pavilion included education , exhibitors and company presentations showcasing technology and investment opportunities , enabling oil & gas professionals to explore how to incorporate this powerful tool into an effective asset management strategy . The BMP hosted three education sessions .
In “ Bitcoin Mining : Monetizing Stranded Gas & Alternatives to Flaring ,” Brent Whitehead , co-founder of Giga Energy , explained how bitcoin and flared gas collide and why bitcoin is the best solution to flaring . He also discussed emissions reduction with flare gas in bitcoin mining .
“ There is no longer a reason to be routinely flaring ,” he said . “ Bitcoin mining now allows stranded energy to have liquidity — something that wasn ’ t possible before without physically moving the gas to the end user .”
Audience feedback was enthusiastic , with many questions about the quality of the gas needed .
“ We hope the BMP will be even bigger and better next year ,” Whitehead said . “ Bitcoin mining will be a huge part of the energy industry , and every oil and gas company should be paying close attention to it .”
In “ Bitcoin Mining : The Wildcatter Spirit Lives On ,” Gideon Powell , chairman and CEO of Cholla Inc ., explained that bitcoin mining ’ s location agnostic , high energy consumption and flexible load profile are perfectly suited to strengthen , grow and incubate global energy grids with the right regulatory framework .
Bitcoin mining and oil and gas development require similar capabilities : They are both cyclical and capex heavy , involve significant risk mitigation tools and require the need to imagine something that isn ’ t obvious , he said .
For Powell , the best part of the BMP was introducing his bitcoin friends to seasoned oil & gas professionals with complementary capabilities . He also enjoyed seeing his young software and bitcoin friends who are interested in energy marveling at the sheer magnitude of what the oil and gas business has accomplished , he said .
In “ Large Format Digital Flare Mitigation : Eliminating Flaring Through Computation at Scale ,” Cully Cavness ,
50 Spring 2023