Adjust your calendar. The IEA is back with its latest energy prognostication of peak fossil fuel demand now attached with a new timetable since the last one didn’t pan out. The driving force behind its latest predictions—expected to be revealed over the next six years and three months—are based on the growing adoption of EVs and renewables. In other news, global demand for fossil fuels this year will break a second consecutive record.
Turning to another Peak, Reese Energy Consulting today is following the latest news from the recently launched Peak 10 Energy, which looks to create scale by consolidating long-life, dislocated oil and gas assets wherever it sees growth opportunities. The Houston-based oil and gas investment firm, led by CEO Mark Paull, made its first arrival to the Permian party with an asset base of 100+ non-operated producing wells in the Delaware and Midland, a total 20,750 net acres, and 13,950 net mineral acres. With a substantial equity commitment behind it, Peak 10 now reports the close of its inaugural acquisition from an undisclosed buyer that includes 36,400 non-operated acres in the Permian Eastern Shelf, along with water handling and recycling assets.