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Nick Cook, Editor
Issue #275 | June 10, 2020
We had quite a mixed bag of news this week. On Wall Street, oilfield shares have had a remarkable few days. At the same time, some of those same companies are talking bankruptcy. On the frac sand side, we have several articles related to lawsuits related to equipment. The timing on those is remarkable as we are about to announce a Petroleum Connection webinar on the topic of buying and selling used assets (how to prepare an asset for disposition and steps to take when buying used equipment). We hope to be able to announce an official title and date for that webinar in the next week or so.
Some very interesting articles this week. I apologize that it appears the majority of them require a subscription (several of them are free subscriptions, but they still require that you sign up).
In the meantime, the 9th Annual Frac Sand Supply & Logistics Conference continues to pick up momentum, with several new sponsors and registrants signing up each week. It is great to see the industry is ready and eager to get back together again! We look forward to seeing you there!
The primary creditor of Northern Industrial Sands wants to liquidate the business after alleging that more than $28 million was owed in principal and interest on a $40 million loan as of April 24. The creditor...
Frac sand is highly litigious and public legal records often shed light on behind the scenes operational and market naunces. In this update, we summarize some intel revealed in the allegations of a…
A South Texas plant that processes frack sand is suing the company that made some of its equipment, claiming that faulty machinery cost it roughly $15 million. South Texas Frac LLC is suing Phoenix Process...
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If you have some used dryers and screeners available, please contact Pete Cook to learn more about some opportunities to dispose of those assets. Along the same lines, if you are in the market...
Canada-based Select Sands sold 59,017 tons of frac sand in the first quarter of 2020, compared with just 9,944 tons in the previous quarter, and 39,958 tons in the first quarter of 2019, it said...
There’s been a lot of focus on the Lower 48 natural gas plays as a source of relatively strong oilfield service demand in the oil crisis. This week, we took a data-driven look at a variety of activity metrics…
Earlier this week, we outlined an 8-stage “reopening plan” for the US onshore oilfield. Since publishing our initial reopening piece early this week, we’ve encountered several more datapoints that...
Saudi Arabia increased prices for some crude exports by the most in at least two decades, doubling down on a strategy to bolster the oil market after OPEC+ producers extended historic output cuts...
OPEC+ agreed to a one-month extension of its record oil-production cuts and adopted a stricter approach to ensuring members don’t pump more than they pledged. The deal will underpin the oil...
It’s still a month until July Fourth, but there are already some bottle rockets being lit in the oilfield. Here’s what the stock market says about the state of things in the oilfield…
Chesapeake Energy Corp. is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the...
Weatherford International’s chief executive has resigned just days before the struggling oil-field services company’s annual meeting and amid a debt crisis that could lead to a second bankruptcy filing in...
The Petroleum Connection has announced that the Golf Outing at the 9th Annual Frac Sand Supply & Logistics Conference has been moved to the afternoon of Friday, September 18. With a shotgun start at...
Even under less damning circumstances, Kelly Agnew would have drawn extra attention at the start-finish line of Across the Years. The annual race takes place over the New Year’s period, with runners...
The relentless, exhaustive and ever increasing shadow of the COVID-19 pandemic has impacted domestic and global business in ways that were unimaginable four months ago. This is acutely...
The Paycheck Protection Program, the federal government’s ambitious effort to keep workers at small businesses off the unemployment rolls through the worst of the pandemic, has provided a financial safety...
The series is designed to include a selection of topics of interest to those who are transitioning in between jobs during the current industry downturn or who are looking for new career opportunities.
This five-part blog series will help company management for buyers, sellers, transportation providers (truck, rail, pipeline, barge, ocean), and terminals/warehouses who handle any bulk commodity understand...
OmniTRAX, one of the fastest growing railroads in North America and an affiliate of The Broe Group, is adding industry veteran Federico D. Díaz Page to the Industrial Development...
From day one, we were told that no one can never "learn it all" about our industry...and if they say they do, their lying. Turns out we 100% agree, but we here at Oilfield Basics are determined to learn as much as we can and...
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