Frac Sand Weekly News Digest

Pete Cook, Editor

Issue #265 | April 1, 2020

It’s been a tough week for oil & gas. Lots of good people being laid off or furloughed, and happening at a time when finding a new job is particularly difficult. Do the best you can and we’ll come through this okay. There are millions of people taking advantage of this difficult situation to learn new skills, grow personally and professionally, and to get closer to friends and family. I hope you are able to do the same. You are in our prayers. Have a good rest of the week.

This Week's News

MidCon Local Frac Sand Capacity Is Contracting Rapidly

We track Xmmtpa of frac sand production capacity online in the MidCon today. We now believe that frac sand demand could sink south of Xmmtpa on an annual run rate as mid-year approaches...

Ecoark Holdings to Acquire Banner Midstream, Parent Company of Pinnacle Frac Transport

Ecoark Holdings, Inc., announced that it has entered into a definitive agreement to purchase Banner Midstream Corp. from Banner Energy Services Corp. The transaction includes the issuance of approximately 8.9...

U.S. Silica cuts $20 million worth of costs, idles Sparta, WI facility amid oil price decline

U.S. Silica aims to cut $20 million in annualized SG&A cost in response to the recent drop in oil prices and expected decline in drilling and completions in shale. Will also idle the 1.5 million...

Frac Sand Shipping Container Cos. Agree To End $49M Appeal

An appeal of a $49 million judgement was dropped on Thursday, after two companies that design and sell containers for shipping sand used in fracking operations told a Texas...

Minnesota, Wisconsin frac sand mines crushed by oil industry shifts

Frac sand miner Jordan Sands in North Mankato was pushed into receivership recently after its banker declared a loan default. A few months earlier, Minnesota’s largest frac sand producer...

PropX

Aggregates industry asserts itself as an essential business, focuses on worker protection

Throughout the nation, aggregate producers – like so many – are grappling with the impact of COVID-19 on their businesses and employees. Producers must navigate a business environment...

Real-Time NAM E&P Capex Budget Monitor – $18 Billion Of Cuts So Far…

Here are the E&Ps that have publicly announced cuts in the wake of the Sunday, March 8, oil market collapse…

Oil heads for worst quarter ever as real crude prices plunge

Oil posted the worst quarter on record after the coronavirus crushed demand and raised fears about overflowing storage tanks amid a price war that has flooded the market with extra supply...

Report: One in five oilfield service jobs could be cut worldwide

One out of 5 oil-field services jobs could disappear this year as decades-low prices and the coronavirus pandemic hammers the industry, according to a report from Norwegian research firm Rystad Energy...

Parsley, Pioneer ask state regulators for emergency meeting on production cuts

Parsley Energy and Pioneer Natural Resources, two of the most active oil companies in Texas, on Monday asked the Railroad Commission to hold an emergency meeting and order production...

Advertiser Space Available

‘Rocks Don’t Go Bankrupt:’ Experts Say Shale Will Rise Again

The American shale industry shocked the world with its rebound after the 2014-2016 bust, setting records for output that pushed the U.S. to the top spot among oil-producing countries...

U.S. Shale Shall Survive This Crisis Too

It may appear as if there’s no bottom to plummeting oil prices, which recently hit a 17-year low, but there are limits to how far prices can fall before things turn around. The U.S. shale sector is in...

Shale’s Comeback Could Be Better And Bigger Than Ever Before

Earlier this month global oil prices fell more sharply in one day than they have in nearly 30 years. The cause was a snowball effect driven by a series of unfortunate events: as coronavirus...

Daily on Energy: Trump turns to Putin to help avoid shale ‘wipeout’

President Trump said he was planning to speak Monday morning with a “gentleman named Vladimir Putin” to help resolve a price war between Russia and Saudi Arabia as U.S. crude toppled to a new low...

US Shale Fights for Survival Amid Growing Pandemic, Oil Price War

The rapid spread of the novel coronavirus coupled with the price war between Saudi Arabia and Russia, threatens the U.S. shale oil producers that are already struggling under large piles of debt...

Oil Rebounds From 18-year Lows After US, Russia Agree to Talks

Oil recovered ground on Tuesday after U.S. President Donal Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit...

Trump and Putin Discuss Oil as Falling Prices Imperil Industry

President Donald Trump spoke with Russian Vladimir Putin on March 30 about threats to both nations' energy sectors posed by the dual forces of the CCP virus pandemic and Moscow's ongoing oil price war with Riyadh...

Smart Money: Efficient Investments During Geopolitical Volatility

A certain amount of volatility is baked into the oil industry; boom and bust cycles are to be expected when investing in this sector. However, the confluence of events that have occurred in the first quarter...

Be Thankful I Don’t Take It All ‘Cause I’m the Taxman

While you fight for the survival of your business, the assessor is doing his/her job and preparing notices of property assessments. Those assessment notices will reflect the idyllic conditions...

Record 5.0-magnitude earthquake hits near Permian Basin town

A record-setting 5.0-magnitude earthquake hit near the Permian Basin town of Orla, Texas, on Thursday morning. U.S. Geological Survey officials say the quake occurred at 10:16 a.m. about...

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