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Nick Cook, Editor
Issue #285 | August 19, 2020
I know, I know. We’re always telling you that this issue is a “must read” and you need to stop everything and read it. So is this one! While some of the big companies work through bankruptcy (even a question, as you will see below, if they should remain a going concern!) there are some positive signs out there too. The timing for our November conference might be ideal…a chance to network with decision-makers right after contracts have been cancelled and right when companies are looking for 2021 dance partners! Please plan on joining us for what will certainly be the largest frac sand event of 2020!
You have to carve out some time to sit and read this article. It is rather shocking...
Another great analysis by Infill Thinking, this one on Hi Crush’s value based on their bankruptcy documents...
Looks like top management at Chesapeake Energy getting millions in bonuses just before declaring bankruptcy isn’t the only company to engage in this disgusting practice. Looks Like Frac sand company Hi-Crush did it too...
The frac supply chain’s future competitive landscape is being reshaped today not by M&A or growth or competition but by restructuring activity. Everywhere we look the bankruptcy and distress fires are either smoldering or blazing depending on the firm...
Within a year after emerging from Chapt. 11 bankruptcy, Superior Silica Sands has decided to sell its Barron, Wisconsin-based sand testing facility...
Company says frac sand is no longer a part of their business plan...
North American oilfield services bankruptcies gaining momentum as Haynes & Boone LLP reports 7 new bankruptcy filings in July 2020 alone bringing the total number of filings to 25 for the year involving an aggregate debt of $29.3 billion...
On Monday, all the parties involved in Vista Proppants & Logistics’ bankruptcy case gathered for a virtual hearing. Unlike Covia’s action-packed hearing on rail car rejections several weeks ago, this hearing didn’t deliver many fireworks...
Manitoba Liberals are calling on the province and the federal government to conduct an extensive review of a proposed sand extraction facility in the Rural Municipality of Springfield...
Under the agreement, the supporting noteholders have agreed to further defer the payment of the June 15, 2020 interest payment on the Notes until September 30, 2020. To give effect to the deferral, the Support and Interest Deferral Agreement amends the Notes indenture by extending the grace period in respect of the interest payment to 107 days...
U.S. Fish and Wildlife Service announced in July that the DSL may warrant protection under the Endangered Species Act and initiated a year-long status review. And there are still a few days left to comment on the new conservation agreement...
By the end of the third quarter, most U.S. oil producers plan to restore nearly all of the production shut down during the oil crash, according to a new report...
Oil jumped to a five-month high alongside a surge in U.S. equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow...
The number of hydraulic fracturing crews returning to work inched upward in July with the Permian Basin of West Texas and southeastern New Mexico accounting for most of the growth...
The oil market is close to rebalancing, at least in terms of supply and demand flows, and one big factor has been the steep decline in U.S. shale production. But the maturing industry is also facing some drilling challenges that could prevent a substantial rebound in production...
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