Frac Sand Weekly News Digest
Nick Cook, Editor
Issue #326 | June 9, 2021
Some very interesting articles this week. Enjoy the newsletter!
And now, the news…
This Week's News
Frac Sand Is Busy And Boring Right Now
The common threads across our conversations will probably come as no surprise – it’s busy and boring in the sand patch.
Smart Sand Wins Favorable Verdict in Dispute With U.S. Well Services
The Court ruled that U.S. Well breached the long-term take-or-pay Master Product Purchase Agreement between the Company and U.S. Well by failing to purchase minimum required tonnages of frac sand.
Smart Sand Shares Rise 20% After Verdict Against U.S. Well Services
Smart Sand Inc. shares were up 20% to $3.30 after the company said the Superior Court of the State of Delaware issued a verdict in favor of Smart Sand in its lawsuit against U.S. Well Services, following the trial that took place in December 2020.
Vista Announces Successful Completion of Financial Restructuring and New Leadership for Its Board and Executive Team
V SandCo, formerly Vista Proppants and Logistics, LLC and dba Vista Sand, announced the expansion of its executive leadership team.
Things We Heard From Friends In The Sand Patch This Week
This week Infill Thinking worked the phones and caught up with many industry contacts in the frac supply chain. In the following bullet points, they get specific about the market nuances they heard from industry insiders this week.
County apparently not shorted by sand companies
Municipal governments in the News-Shield circulation area have been ordered to return well over half a million dollars in property taxes to Superior Silica Sands, formerly Barron County’s largest frac sand company.
Independence Energy and Contango Oil & Gas to merge
Two oil and gas companies, Independence Energy of Houston and Contango Oil & Gas of Fort Worth, said they would merge in an all-stock agreement to create a company with a market value of just under $5 billion.
US E&P Consolidation Surges Driving 2Q21 Deal Flow To New Heights
2Q21 is the busiest quarter for US E&P deal flow since we started keeping track of significant E&P M&A transactions in 2017.
Data-heavy week could lead to price swings in oil markets
Monthly market reports from OPEC, the EIA and the IEA could make for a volatile week for crude oil prices, but the focus will be squarely on global demand indicators, analysts said.
Tracking Exxon’s D&C Program In The Permian (Operator Spotlight)
Each week through July 2021, Infill Thinking will be illuminating the D&C trajectory of one large operator in the Lower 48 with hard data.
Oil slips after hitting $70
Oil slipped after hitting $70 a barrel in New York for the first time since October 2018 as a rally driven by signs of a tightening market eased.
South Africa swims against the global tide, puts ‘controlled’ fracking back on the agenda
Swimming against a global tide to ban fracking outright, the government has published new proposals to safeguard South Africa’s declining water resources through “controlled” fracking – while simultaneously leaving the door wide open for oil and gas corporations to blast vast quantities of water underground to extract fossil fuels.
We’ll Do Climate Our Way, Australian Prime Minister Tells Miners
Australian Prime Minister Scott Morrison has drawn a line in the sand for Australia ahead of an international conference focused on climate change and security.
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.
Share Your News
Send us your press releases and any other news articles which you believe would be of interest to our readers. Email submissions to contact@petroleumconnection.com