Frac Sand Weekly News Digest

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…

 

 

This Week's News

Shell to Sell Permian Assets to ConocoPhillips for $9.5 Billion

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.

5 Things We LEARNED In Grapevine This Week

1. We Take The Over On Mini-Mobile Mine Growth Consensus, 2. Watch For Marginal Growth In Local / Proximity Mines & Wet Sand Capacity, 3…

Laredo Bolts On Permian Midland Acreage in Cash, Stock Swap with Pioneer Natural

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.

America’s Next Hot Import Might Be Record Energy Prices

Natural-gas, coal and electricity prices are all running abnormally high, far too early

ConocoPhillips Sinks Twenty Billion Into Permian M&A In 11 Months As Shell Exits Stage Left

$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 Surge, and Winter Is Still Months Away

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.

4 Things We CLARIFIED In Grapevine This Week…

1. Last Mile Logistics – Driver Shortage & Bottom Drop Penetration, 2…, 3. ESG, ESG, ESG, 4…

Advertiser Space Available

Smart Sand, Inc. Appoints Rick Shearer as President-Industrial Products

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.

DEVELOPING: Yet Another Large Carrier Exits The Oilfield As Trucking Hardships Continue

1845, one of the single largest carriers over the past several years in frac sand, is calling it quits.

BRUTAL Business… A Second Sand Hauler Exits In As Many Days

In addition to 1845, Infill has confirmed that Bold Logistics also shut down last week.

Canadian Pacific Poised to Acquire Kansas City Southern Into a Voting Trust by Early 2022

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 secures US$30 million worth of new wells contracts

Tendeka has secured more than US$30 million worth of international contracts within the last quarter which will cover the next three years.

“The Good Old Days Of Sand Hauling Are Over”

Infill Thinking interview with 1845's President Robbie Ballard.

Oklahoma energy industry keeps forward focus despite better times

Increased demands for energy after last year’s covid lockdown have helped Oklahoma energy companies and other types of businesses that support them.

Canada: Calima Energy top line jumps on Canadian oil production gains

Canadian oil and gas producer Calima Energy increased its operating netback for August by nine per cent to A$2.8m on growing production.

Australia: Miners Labor to Find Enough Truck Drivers, Workers

Big bonuses, swimming pools and gourmet dinners are rolled out to attract staff as border restrictions curb mobility.

Canada: Packers Plus reduces completion costs by 30% in HPHT reservoir

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.

UK: Union Jack Oil building cashflow in the UK

Gross production rates exceed 950 barrels oil equivalent per day, comprising 884 barrels of oil and 480,000 cubic feet of gas per day, on a significantly restricted choke and with zero water cut.

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