Nick Cook, Editor
Issue #341 | September 22, 2021
Everyone, there’s a whole lot of news to catch up on in this week’s digest. Big shakeups with ConocoPhillips buying Shell’s Permian assets, Laredo buying 20,000 acres from Pioneer, multiple trucking companies closing shop, and more. Natural gas prices continue to surge throughout the globe as the northern hemisphere starts the first day of Autumn and winter around the corner.
We had a great time last week in Grapevine, and we are so grateful to the high caliber speakers, moderators, and panelists who provided such exclusive, valuable insight to all in attendance. Mark your calendars for February’s Frac Sand Industry Update event on February 18th in Houston.
And now, the news…
Royal Dutch Shell has agreed to sell all of its assets in the Permian basin, the most active U.S. oil field, to ConocoPhillips for around $9.5 billion in cash.
Tulsa-based Laredo Petroleum Inc. has clinched a deal to build out its West Texas leasehold in an estimated $230 million cash-and-stock deal with Pioneer Natural Resources Co.
Natural-gas, coal and electricity prices are all running abnormally high, far too early
$20bn invested in acquiring Permian E&P platforms in less than a year for Conoco while Shell moves emphatically away from O&G to focus on energy transition.
Natural-gas prices have surged, prompting worries about winter shortages and forecasts for the most expensive fuel since frackers flooded the market more than a decade ago. US natural-gas futures ended Friday at $5.105 per million British thermal units. They were about half that six months ago and have leapt 17% this month.
Smart Sand, Inc. announced today that industry veteran Richard J. “Rick” Shearer will join the company as President – Industrial Products at the end of September.
1845, one of the single largest carriers over the past several years in frac sand, is calling it quits.
In addition to 1845, Infill has confirmed that Bold Logistics also shut down last week.
Canadian Pacific is a CAD 7.7 billion railroad operating on 12,500 miles of track across most of Canada and into parts of the Midwestern and Northeastern United States with frac sand making up a significant portion of their rail business.
Tendeka has secured more than US$30 million worth of international contracts within the last quarter which will cover the next three years.
Increased demands for energy after last year’s covid lockdown have helped Oklahoma energy companies and other types of businesses that support them.
Canadian oil and gas producer Calima Energy increased its operating netback for August by nine per cent to A$2.8m on growing production.
Big bonuses, swimming pools and gourmet dinners are rolled out to attract staff as border restrictions curb mobility.
In the early development of the Duvernay formation of northwestern and central Alberta, total well costs between $15 and 20 million were commonly reported by operators.
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