Nick Cook, Editor
Issue #310 | February 10, 2021
Plenty of interesting frac sand news this week. Sand and trucking continue to be tight in Texas, Argentina’s shale boom appears to be doing very well, and a few companies have some big announcements. Grab a cup of coffee and take the time to read through this issue. It’s well worth it. Oh, and while you’re at it, register for the 6th Annual Frac Sand Industry Update! It will be the best opportunity to network with frac sand industry leaders in the first half of 2021!
And new, the news…
AMI has bought out the 'at arm's length' partners to secure 100% ownership of each company, which respectively hold the Montney and Duvernay premium domestic sand deposits. These transactions were combined and concluded for eight million AMI shares and valued at $2.0 million in total.
The oil production decline that the Covid-19 pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory. The reserve’s oil output has not only rebounded to pre-pandemic levels but also reached a record high of 124,000 barrels per day (bpd) in December 2020, a Rystad Energy report reveals.
As of Tuesday February 9, 2021, frac sand and the hauling thereof are still tight. Here is the latest intel from channel checks on the ongoing frac supply chain market imbalance:
For the past couple of weeks we forgot to include this news in the Frac Sand News Digest. So while it is a few weeks old, we still thought out readers would be interested to know that CST Industries announced organizational changes of its Domestic and International sales team.
Mark your calendars for the 6th Annual Frac Sand Industry Update, being held at The Petroleum Club of Houston on March 31!
As January has turned to February, the dual completions bottlenecks of tight sand supply and tight trucking remain hot topics in the oilfield business.
More information here.
CPS is pleased to announce a shift in the direction of the Company’s business strategy to focus on developing its Wanipigow silica sand deposit into a sustainable float glass manufacturing and coating facility.
Exxon Just Cut Their Permian Oil Growth Forecast… By A Lot. On their earnings call this week, Exxon cut their 5-year Permian volume outlook by at least 50% at $50 crude with very little explanation.
An analyst at Seeking Alpha gives his thoughts on the opportunity for Solaris.
The last mile headache they’ve been covering at Infill Thinking since the turn of the year (sand trucks are tight!) showed up on a conference call this week. Patterson-UTI, who has 7 crews working now, mentioned trucking problems on Thursday.
U.S. mines produced approximately $82.3 billion in minerals in 2020— about $1.5 billion lower than the 2019 revised total of $83.7 billion—the U.S. Geological Survey announced.
Get relevant announcements and news from major outlets, industry leaders, and local media so you always know what’s happening and changing in the frac sand industry.
Subscribe to get our carefully curated summary of relevant frac sand related news and analysis delivered to your inbox each Wednesday morning.
Event Registration – $25