Frac Sand Weekly News Digest

Pete Cook, Editor

Issue #282 | July 29, 2020

Lots of interesting information in today’s newsletter!  Please note the change in the dates of the 9th Annual Frac Sand Supply & Logistics Conference!  We’ll be holding the event November 16-18, 2020 at the Hyatt Regency Hill Country Resort (a new site for us!).  We have several new features at the conference this year, so be sure to mark your calendars and plan on joining us.
 
Last week we had the best-attended webinar in our Frac Sand Webinar Series.  The focus was on how to approach the sale or purchase of frac sand equipment/assets.  We’ll be adding a feature related to that to the November conference, so keep an eye out for more information on that over the next few weeks.
 
Again, lots of information (and great analysis) in this newsletter, so grab a cup of coffee, turn off the phone, close the office door, and take some time to read through it.  Have a great rest of the week!

This Week's News

ANNOUNCEMENT: The Dates of the 9th Annual Frac Sand Supply & Logistics Conference Have Changed!

The Petroleum Connection has announced that the dates of the 9th Annual Frac Sand Supply & Logistics Conference have changed.

1/2 The Rail Cars That Used To Move NWS Are Now In Storage With More Piling Up By The Day…

There are 125,000 frac sand cars deployed in the industry, with 55-60,000 of those cars now in storage per Trinity’s estimates...

Frac sand losses hit Trinity’s bottom line

Company sees opportunistic buyers in “down market” for railcar leasing...

Not So Fast My Friend… Resistance To A Sand Producer’s Plan To Walk Away From Thousands Of Cars

Covia’s Chapter 11 filing on June 29, 2020 disclosed that they planned to reject leases and abandon at least 7,000 railcars.  GATX says not so fast…

Recording of Frac Sand Asset Acquisitions & Dispositions Webinar Now Available

A recording of last week’s webinar on “Frac Sand Asset Acquisitions & Dispositions” is now available to watch for free...

RM of Springfield residents worry about water impacts as Calgary company plans silica sand facility

A Calgary-based company is looking to create a multi-million-dollar silica sand facility in the Rural Municipality of Springfield, but residents worry it will negatively impact their water...

Managing Sand Production in Shale: An Overview

Some may be surprised that fracking dates back to at least the 1860s. But, it wasn’t until the 1940s that the practice of hydraulic fracturing actually began as an experiment, followed by the first commercially successful application in 1950...

Marketing to the Frac Sand Industry

Do you have goods or services to sell to the frac sand industry? If you would rather not wait until the November conference to get in front of the industry, or if you would like to do an advertising campaign leading...

A Plan For Stranded Sand… Plus Some Eye Opening Frac Sand Financials

In bankruptcy proceedings for the Vista Proppant and Logistics Chapter 11 case this week, several interesting new filings caught our attention...

Core Labs Holding a Virtual Proppant Consortium

Free for members of the research consortium...

Stalled oilfield activity pressures frac sand price lower

Frac sand prices fell as the effects of low oil prices due to the Covid-19 epidemic slows the pace of sales to a crawl in the US...

Permian Rig Count Ticks Higher For First Time Since March

For the first week since March 13, the Permian rig count posted a gain on Friday July 24, 2020!

Oil boosted by weaker dollar and stronger U.S. equity market

Oil was propped up by a weaker dollar and stronger U.S. equities with speculation growing around the Federal Reserve reinforcing its dovish message...

Weatherford signs two-year surface pumping contract in Argentina

Weatherford International has been awarded an exclusive two-year, $15M contract with a major independent operator in Argentina...

Brief Notes On The US Completion Outlook From Thoughts Shared By Three OFS Leaders This Week

Over the past couple of days, we heard from the management teams of Patterson-UTI, Schlumberger, and Core Lab...

Baker Hughes continues right-sizing successes in the face of Covid-19 unknowns

Baker Hughes is making structural changes to account for continued oil demand disruption after the coronavirus crippled economic activity around the world and compounded an historic oil bust...

The oil market continues its cautious rally but more uncertainty lies ahead

For the oil markets, the first half of the year saw extraordinary swings in supply and demand, culminating in what is now thought to have been a staggering 22mbbpd of oversupply in April as OECD economies headed...

Bounceback in U.S. shale oil output is unlikely to last the summer

A reopening of some major economies locked down due to the coronavirus has lifted global oil prices and encouraged U.S. shale producers to return at least a third of the 2 million barrels per day curtailed since April...

Union Pacific eyes highway-to-rail conversion opportunities

The railroad views ‘solid’ peak season, barring any major pandemic effects...

Advertiser Space Available

NOV narrows losses despite slumping second-quarter demand

Cost-cutting measures helped Houston oil-field equipment maker National Oilwell Varco narrow losses despite the coronavirus pandemic continuing to sting the oil and gas industry...

KLX, Quintana hope to survive downturn as one company

Shareholders of two struggling Houston oil-field services companies approved a merger that proponents say will help the combined company survive the oil industry downturn...

Rosehill Resources to go private after bankruptcy filing

Rosehill Resources, a Houston oil and gas producer active in the Permian Basin, has joined a growing number of energy companies filing for bankruptcy, another casualty of the coronavirus-driven oil crash...

Bruin E&P files for bankruptcy

Bruin E&P Partners, a Houston oil and gas company backed by private equity firm ArcLight, has filed for bankruptcy protection, another casualty of the coronavirus-driven oil crash...

The week in bankruptcies: Hi-Crush brings Houston court's business bankruptcies to 180 in 2020

Houston-area bankruptcy courts recorded one business filing during the week that ended July 17, 2020, and four during the week that ended July 10. Year to date through July 17, 2020, the court...

Baker Hughes posts $201 million loss during second quarter

Houston oil-field services company Baker Hughes lost $201 million in the second quarter as it faced the worst of the ongoing industry downturn caused by the coronavirus pandemic...

TX Oilpatch Layoff Trends

After surging and peaking in April and May, WARN layoff notices in the Texas energy sector declined quite a bit from May through July...

Deutsche Bank says it will no longer invest in fracking or Arctic oil as banks turn away from fossil fuels

The German lender is cutting ties with fracking projects in countries with scarce water supply, and aims to end business activities in coal mining by 2025...

Funding for shale drillers dries up as lenders leave the sector

One of the key sources of funding for American shale is evaporating, just as the the sector needs it more than ever...

UK fracking firm to challenge 'de facto ban' on shale gas projects

A British fracking company has vowed to challenge the effective ban on shale gas projects after withdrawing its application for two wells in Lancashire...

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