Nick Cook, Editor
Issue #329 | June 30, 2021
The team at The Petroleum Connection wishes you and yours a safe and Happy 4th of July! Once we get past this little break we will be turning our attention to the biggest frac sand conference of the year. We’ll start outing agenda topics and identifying potential speakers, so send me a note (firstname.lastname@example.org) if you have anything to suggest. Please also take a look at sponsorship options as we dropped the prices for sponsorship this year. It is going to be great to be able to get back together with everyone again! I’m looking forward to it.
And now, the news…
Under the terms of the settlement, U.S. Well Services paid to Smart Sand a $35 million cash payment and entered into a two-year right of first refusal agreement with Smart Sand covering all purchases of Northern White frac sand by U.S. Well Services and its affiliates in the continental U.S. from Jan. 1, 2022, through Dec. 31, 2023.
PropX returns as a Golf Sponsor for the fourth year in a row. Sign up for golf early as we’ll be limited to the number of golfers who can join us.
The physical oil market, in which millions of barrels of crude are bought and sold each day, is screaming for more supply in the run-up to a pivotal meeting of OPEC+ producers this week.
This report’s focus is on constraints – of which there are many to solve when converting from traditional or zipper fracs to simulfracs.
The article is in Spanish, but NRG has already hired 200 people (180 of which are from the region). By the end of the year it is expected to reach 500 direct jobs.
Covia announced that the Company will implement a price increase in July 2021 of up to 15%, depending on the product. The increases, which will apply to all industrial segments, will partially offset extraordinary cost increases across several categories including energy, steel, packaging (wood and paper), transportation, resins and additives.
The solution operates almost like an electrochemical battery. In this case, an inexpensive thermal storage medium — silica sand — is kept in a factory-made, shipping-size container and is heated by electric resistance coils using low-cost excess electricity, for example, from intermittent solar and wind power sources.
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