Frac Sand Weekly News Digest

Pete Cook, Editor

Issue #286 | August 26, 2020

A mixed bag of good news, bad news, and news in this week’s Frac Sand News Digest.  Does that mean we are returning to normal?  Let’s hope so.
 
For those ready to just get outside and do some networking with oil & gas people, Oilfield Water Connection is hosting a Golf Outing in Grapevine, Texas on September 24.  It is not sold out yet, but it certainly will sell out well ahead of time.  You can check it out here: https://oilfieldwater.com/2020-golf-outing/
 
Enjoy this week’s news digest!  

This Week's News

NRG Proppants Selects IAC for its First Frac Sand Dry Plant Contract in Argentina

NRG Proppants Selects IAC for its First Frac Sand Dry Plant Contract in Argentina...

Local Sand’s Best House In A Bad Neighborhood?

While local mines were built in the Haynesville Shale during the local sand rush, it never experienced the giant construction boom that the Big 3 oil basins did.  And while it’s been a tough year or two...

Keane Frac v. SP Silica Sales

Appellee SP Silica Sales sued appellant Keane Frac for breach of contract, fraud and fraudulent inducement arising out of an agreement to purchase frac sand...

Texas appeals court upholds ruling allowing fracking suit over sale of sand to proceed

SP Silica Sales LLC sued Keane Frac LP for breach of contract, fraud, and fraudulent inducement over a contract to purchase sand...

Covenant Merges with Stuart

Companies merged to form a provider of well flow and sand management and pressure control solutions in the Permian, DJ, Eagle Ford, and Haynesville...

Has Vista Averted A Ch. 7 Scenario? Oh, And Some Valuation Highlights Too….

The judge in the Vista Proppants & Logistics bankruptcy case approved their amended Chapter 11 restructuring plan disclosure statement and set a confirmation hearing for September...

Athabasca Minerals Inc. Presents Employee Share Purchase Plan for Shareholder Approval

AMI announces that it has received conditional approval from the TSX Venture Exchange for an Employee Share Purchase Plan with employees, management and directors of AMI...

Pattison Sand plans to sell water it removes from mine to drought-stricken states

Pattison Sand has notified the state that it plans to sell water it normally pumps from its mining operation in northeast Iowa to drought-stricken states in the western U.S...

Where Exactly Are The First Signs Of Life Appearing In Rig Land?

Finally! As I’m sure everyone knows by now, rig count had a nice uptick last week.  This was the first weekly increase in US drilling activity since “the world stopped spinning” back in March...

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 up to the conference, you might consider putting a banner ad in the Frac Sand Weekly News Digest...

$40 Oil Isn’t High Enough For Indebted U.S. Shale Drillers

Rystad Energy: In a scenario with WTI continuing to hover around $40 over the next two years, we can expect another 68 Chapter 11 filings from E&Ps in 2021, and 57 more in 2022, adding $58 billion and $44 billion, respectively, of more debt at risk...

Fracking Company FTS to File for Bankruptcy

The commodity price downturn during the coronavirus pandemic battered demand for company’s services...

Mass Bankruptcy. What Does It Mean For “The 3 C’s” Of Oilfield Service?

Every downcycle drives a couple firms bankrupt. This time the scale of the bankruptcy event is different to the point where it will redefine the service sector’s competitive landscape with long-run implications for the supply chains of customers too...

Advertiser Space Available

The Bankrupting Of Oilfield Service

After releasing the above thought piece on the implications of mass bankruptcy for the oilfield’s future service and supply chain sector, we figured it’d be a good idea to put out a companion piece that quantifies the restructuring trend...

Unimin/Covia bankruptcy puts Kasota Prairie future in jeopardy

After abruptly closing the former Unimin silica sand mine in Kasota late last year, the parent company, Covia, has filed for bankruptcy protection, leaving uncertainty about the future of prairie that was preserved after a long battle with local activists nearly four decades ago...

NFL Hall of Famer Jerome Bettis Sues Top U.S. Gas Driller on Race Bias Related to Trucking Company

NFL Hall of Famer Jerome Bettis is suing EQT Corp. for racial discrimination after the largest U.S. natural gas producer terminated a contract with his trucking company.  EQT said the suit is “entirely without merit and contains a number of false statements.” Contracts with non-minority owned businesses have also been terminated “as part of a program to drive efficiencies and accountability,” the driller said by email...

7 Frac People On The Move

Talent draining out of the oilfield is likely to be a major theme over the next 6-12 months given the extent of layoffs and lack of hiring activity in this sector...

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