Frac Sand Weekly News Digest

Pete Cook, Editor

Issue #268 | April 22, 2020

This is a crazy week.  Let’s see where the dust settles in the next week or two, as states start to open up for business again, demand starts to rise, etc.  Have a good rest of the week.

This Week's News

Don’t Count the Fracking Industry Out Just Yet

There’s one obvious group of losers from the global deal to cap oil output that’s just been thrashed out: U.S. shale producers. For an industry that needs crude prices in the low $40s to break even, current...

The Russian-Saudi Oil Flood and Consequences For the US Frac-Sand Market

Excess supply in the US frac-sand market has been beating down prices and depressing sand mining stocks by more than 70% in the past two years. A report at World Oil Magazine focused on the...

On The Oilfield’s Second Black Monday This Spring… One Word Comes To Mind: TEMPORARY

We know you know the logic, but on days like today, it’s good to read and re-read the crude oil cyclical rationale in it’s simplest form, which is as follows...

IAC Virtually Troubleshoots Fan Operations for Frac Sand Facility

IAC is a leading Engineering, Procurement and Construction, EPC Contractor completing the Construction and Design/Build of several frac sand plants in recent years. IAC was contacted by a Frac Sand...

Timpte

Hitched Empowers Solaris Oilfield Infrastructure to Rapidly Expand Market Opportunities

Hitched, Inc., the leading worksite management, logistics, rental, and e-commerce platform for the oil & gas, construction, and industrial industries, announced today they were selected as a software vendor...

Athabasca Minerals Announces 2019 Year End Financial Results

Athabasca Minerals Inc. announces its financial results for the fourth-quarter and year-ended December 31, 2019. The Corporation’s 2019 Financial Statements and Management’s Discussion and...

Oil plunges below zero for first time in wipeout

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading...

Oil May Be In The Gutter, But Gas Is Good! A Look At Bifurcating Rig Fortunes In The Crash

On an historic Monday when the WTI front month contract fell more than 300% into negative territory, natural gas spot prices were up 10%! Here’s a look at bifurcating fortunes by basin focus…

Halliburton shifts gears, tightens belt following $1 billion first quarter loss

Houston oilfield service giant Halliburton is tightening its belt even further after posting a $1 billion loss during the first quarter as oil prices continue to crumble and the coronavirus pandemic cuts demand...

Halliburton Will Not Chase Market Share In The Frac Crash (Live Analysis Of Big Red’s Latest Thinking On The Lower 48)

This morning at 8am central, Halliburton will host their 1Q20 earnings call. Needless to say, their remarks on challenging Lower 48 business conditions will be closely watched. While outlook / guidance...

Baker Hughes lays off more than 200 workers in Oklahoma

Houston oil-field service company Baker Hughes laid off more than 200 people at a facility in Oklahoma City and hinted that more job cuts could be coming at other locations. The company is laying...

Schlumberger’s $7.4B loss sets stage for 'most uncertain’ future

Schlumberger, the largest oil field service company, said Friday it lost $7.4 billion in the first quarter. Then its CEO said the second quarter will be worse. The company attributed the loss to writing down the...

PropX

Schlumberger Estimates 100+ US Frac Crews Will Still Be Active At The Bottom (Live Blog Complete)

Towards the end of Q&A during today’s call, came perhaps the most interesting thing that management said about the US market all morning. Specifically, Schlumberger was asked where the...

Why protectionism will not shield the US oil industry

Pump jacks and wells are seen in an oil field on the Monterey Shale formation near McKittrick, California. Getty Images Pump jacks and wells are seen in an oil field on the Monterey Shale formation near...

Railroad Commission tables vote on state-mandated oil production cuts

Elected officials overseeing the Railroad Commission of Texas, the state agency that regulates the oil and natural gas industry, tabled a vote on state-mandated oil production cuts until...

North Dakota oil companies have shed 2,000 jobs, could cut 6,000 more

The global oil price crash already is bashing North Dakota’s economy as the state’s petroleum industry retrenches — and the contraction could go on for months. Oil companies have cut back on...

Advertiser Space Available

Kansas City Southern Reports Strong First Quarter Results

Kansas City Southern reported record revenues of $731.7 million, an increase of 8% from first quarter 2019. Overall, carload volumes were up 4% compared to prior year. First quarter revenues were...

Canadian National And The Pain Ahead

The coronavirus has created serious headwinds for the global economy. Goldman Sachs predicts a sharp decline in Q2 GDP. Oil prices are falling, partly due to a lack of demand. Rail traffic could...

Generic Manufacturing: The Buried Treasure Beneath the (Frac)Sand

Frac sand suppliers have struggled in the current market environment. Crude oil prices have crumbled amid a major oversupply (especially during the COVID19 pandemic). As a result, rig counts and...

A Question of Authority — The Federal Circuit’s Criticism of the POP in Windy City

The Federal Circuit recently dealt a blow to the Patent Trial and Appeal Board and, in particular, to the POP opinion process that has been frequently used over the past year to establish...

Discover the concepts of porosity and permeability and how they relate to fracking in this educational video from Liberty

Discover the concepts of porosity and permeability and how they relate to frac’ing in this educational video from Liberty’s VP of Engineering, Dr. Leen Weijers...

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