In-Basin Observations

Episode 64: Jason Downie on AI, LNG & Energy Infrastructure

AI-driven power demand, LNG growth, and infrastructure bottlenecks are reshaping energy investment faster than ever. In this episode of In-Basin Observations, Bill Austin sits down with Jason Downie, Co-Founder & Managing Partner at Tailwater Capital, to discuss Tailwater’s differentiated approach across midstream, water, recycling, software, power-linked assets, and upstream energy investments. The conversation explores major industry shifts, including upstream consolidation, natural gas infrastructure constraints, LNG-driven demand growth, rising AI-related power needs, and the increasing importance of disciplined capital allocation in today’s energy market. 00:00 Show Intro and Guest 01:14 Jason Downie Background 02:35 Why Tailwater Started 03:03 Data Driven Non Op Model 05:23 Full Immersion Value Chain 08:11 What Investors Miss 12:19 Energy Re Rating Post COVID 14:23 Macro Trend Upstream Evolution 15:05 Efficiency Gains and Inventory 19:19 Portfolio Benefits and Permian Gas 21:21 Midstream Platform Buildout 21:59 Texas Last Mile Gas Demand 23:04 LNG Logistics And Bottlenecks 24:21 Structural Gas Demand Shift 28:29 AI Power Demand Economics 29:52 Behind The Meter Boom 31:36 NIMBY Pushback And Grid Fixes 34:24 National Security And Reshoring 35:36 Why Private Ownership Wins 38:36 Geopolitical Risk Premium Wrap

Episode 63: Amy Jaffe

In this special episode of the In Basin Observations Podcast, Bill Austin, Blake McLean and Jeff Bellman are joined by Amy Jaffe of NYU for a discussion that serves as a preview of the upcoming DEP Sonoma Executive Series. The conversation focuses on the intersection of energy, AI, and power infrastructure, including rising electricity demand from data centers, natural gas infrastructure constraints, grid bottlenecks, and the growing overlap between the technology sector and traditional energy markets.

Episode 62: How Fuel Logistics Drives Efficiency in a Volatile Diesel Market

Fuel logistics keeps the oilfield moving, yet it’s often overlooked. In this episode of In Basin Observations, hosts Bill Austin and John Daniel sit down with Rolfson Oil’s Jason Berger and Zach Krantz to break down the realities of fuel supply—and the impact of the Flint acquisition. They cover: Diesel volatility and supply risk Centralized procurement Automation and fuel optimization strategies 00:00 Welcome and Setup 01:22 Jason Rolfson Origin Story 03:33 Zach Flint Background 06:14 Scaling and Market Reach 06:58 Tech and Logistics Edge 10:53 Automation and Tri Fuel 13:22 Culture and Meritocracy 15:44 Selling in Procurement Era 20:34 Fueling Efficiency Demands 23:29 Customer Mix and Niches 27:49 What Customers Call Best 30:16 Hiring Standards 31:24 Retention Perks 32:14 Customer Stickiness 33:32 Dual Fuel Disruption 35:32 New Truck Tech 36:26 Diesel Price Pass Through 37:56 Supply Optionality 39:24 Record Months Drivers 42:41 Flint Acquisition Rationale 47:07 Fuel Hedging Advice 51:39 Tri Fuel Explained 54:03 CapEx And Supply Chain 55:33 Wrap Up Thanks

Episode 61: Cody Sutton

The smallest cost… with the biggest impact. On In-Basin Observations podcast, host Bill Austin sits down with Cody Sutton, Co-Founder & CEO at Guide Energy Solutions, to unpack how completions chemistry is becoming a major performance driver. From produced water reuse to AI-powered decision-making, they dive into how smarter chemistry, tighter vendor accountability, and data-driven insights are reshaping frac outcomes. Tune in now! 00:00 Conference Intro 00:47 Guide Overview 01:20 Founder Background 03:03 Why Guide Started 04:47 Chemistry Market 2026 06:12 Cost Pressure Opportunity 08:42 Water Treatment Expansion 10:21 Managing Variable Water 11:36 Good Water KPIs 12:34 Iron And Scaling Risks 14:01 Outcome Based Partnerships 15:33 Chemistry Impact Reality 16:43 Predictable Accountability Wins 17:25 Fast Low Cost Solutions 18:03 Completions Outlook 2026 19:31 Bigger Jobs Reuse Pressure 20:52 Market Share Consolidation 22:14 AI Agents In Operations 26:14 Sensors Real Time Data 26:57 Surfactants Boost Recovery 28:04 Tune Systems With Data 29:25 Closing Thanks

Episode 60: Matt Wilks

At THRIVE 2026, Bill Austin sat down with Matt Wilks of ProFrac to discuss the current state of the U.S. completions market and how operators are thinking about the next phase of shale development. A key theme was the underlying tightness in pressure pumping capacity following years of fleet attrition, with the market appearing stable but lacking meaningful spare capacity. Wilks also highlighted a shift back toward recovery and well performance as efficiency gains begin to plateau, with increased focus on data, automation, and closed-loop fracturing to improve stage quality and consistency. The conversation also explored how new Permian gas takeaway capacity could unlock additional inventory and support higher activity levels into the second half of 2026.