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Nick Cook, Editor
Issue #262 | March 11, 2020
Okay. Let’s just take a breath for a second. Yes, the coronavirus issue is getting worse, but most of the drastic actions being taken are being done to prevent it’s spread. I am confident we’ll figure this out and get it under control. And yes, oil prices collapsed due to an OPEC+ oil price war. But neither Russia nor Saudi Arabia can sustain long term super-depressed oil prices. So I’d recommend you remain calm and see if there is something positive that can come out of this for you and your company. Stay in close touch with your clients. Focus on those relationships and get creative in figuring out how you can help your clients work through this downturn. Let’s see if things calm down a bit in a week or two. And remember that in crisis-type situations there are companies out looking for new partners, new suppliers, and new opportunities that they might not consider in “normal” times. There are bargains to be had, joint ventures to be developed, and deals to be done.
While there is a lot of tough reading in today’s newsletter, don’t overlook the other industry news (Sandbox-ArrowsUp, Emerge, CIG, etc.).
We’re still planning on having the Mobile-Mini Frac Sand Mine Forum at The Petroleum Club of Houston on April 17th. Sponsorships are nearly sold out and registrations continue to come in. We’ll keep an eye on the coronavirus situation, but bear in mind that the overwhelming majority of our attendees are from Texas (not an international crowd). Don’t miss the opportunity to hear from a variety of industry leaders on the topic, and the chance to network with companies looking for solutions and potential partners at this crucial time. We look forward to seeing you there.
We digest the implications of the market fallout and think through some things that matter for business leaders in the oilfield at its darkest hour…
U.S. Silica Holdings, Inc. SLCA, +0.97% today announced that it has settled multiple intellectual property and contractual lawsuits involving its SandBox Logistics™ unit and Arrows Up...
There is one less independent wellsite storage firm operating in the Lower 48 today after a legal battle culminated in a takeover that will see the fleet change hands...
A frac sand company in Wisconsin has re-emerged from bankruptcy and has brought its Chippewa County mine back into compliance with state and local regulations. Texas-based Emerge...
A frac sand company has been given the green light to resume operations in Chippewa County after emerging from bankruptcy. Superior Silica Sands filed for bankruptcy last summer...
CIG Logistics announced today David Nightingale as the organization's Chief Executive Officer. Mr. Nightingale will succeed Jonathan Green, the company's founder and previous CEO...
Jordan Sands is telling a court that there was no emergency to justify putting the business into receivership while a bank seeks to get land, equipment and other assets the company put up as...
On Tuesday March 10, the company’s energy division, which provides proppants to the fracking industry, reported sales of 3.3 million short tons for the last quarter of 2019, down 21% on the...
Declining oil production is devastating news for frac sand stocks including U.S. Silica, Hi-Crush, Covia, Smart Sand and Carbo Ceramics. Separately, U.S. Silica says it has settled multiple lawsuits...
Amidst all the doom and gloom of the overall equity and bond markets, this article continues a set of informative pieces related to U.S. Silica and contains information related to the O&G proppant...
Two oil companies focused on the Permian Basin of West Texas are already planning to scale back their operations amid an oil war between Russia and Saudi Arabia that has caused commodity...
It’s been 36 hours since the oil industry’s D-Day equivalent, and US E&P operators are wasting no time cutting activity…
Markets for oilfield minerals like frac sand and barite are being influenced by national policies and international trade, reports William Clarke. Oilfield minerals, the clays and proppants used in drilling...
Oil prices have come under heavy pressure from fears that the novel coronavirus will disrupt global manufacturing and demand. This threatens to reduce the pace of drilling and fracking, and limit...
Most Americans closed out the first week in March fretting about the onset of COVID19 – the illness caused by the new version of coronavirus that emerged in China late last year – and the resulting...
Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers. Futures climbed...
Within minutes of the transcript of the Exxon analyst day being released, we shared this summary of what’s new in the company’s Permian Basin Drilling & Completion outlook…
Stock prices for Houston-based Cabot Oil & Gas shot up at a time when the ongoing oil war between Russia and Saudi Arabia caused prices for almost every other company in the industry...
After enduring more than five years of losses, San Antonio drilling rig operator Pioneer Energy Services has filed for Chapter 11 bankruptcy. In its Chapter 11 filing in U.S. Bankruptcy Court in...
I wrote an article a couple of years ago about the "end of days" for little fracking companies, focusing one in particular, Liberty Oilfield Services, that was the then-darling of fund managers looking...
An innocent stop at a conference booth unwittingly ignited a furious debate on the social media network LinkedIn over how to spell the slang word for hydraulic fracturing...
South Texas rancher Jim Wright unseated incumbent Texas Railroad Commissioner Ryan Sitton in an upset Republican primary victory. With nearly two-thirds of precincts reporting and Wright...
Building a frac sand mine isn't easy! Check out this awesome video from #turninNburnin showing how busy just one day can be...
The somatic-cell count at Maple Ridge Dairy near Stratford has declined from 110,000 to less than in 80,000 during the past few years. That reflects the farm team’s work on continually improving cow...
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