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Nick Cook, Editor
Issue #345 | October 20, 2021
Lots of positive trends for North American onshore. Oil is up. Rig count is up. The rest of 2021 and Q1 of 2022 are looking good!
And now, the news…
Halliburton’s 3Q21 conference call on Tuesday morning both kicks off and sets the tone for this OFS earnings season. The largest pressure pumper’s market perspective has implications for all frac and frac supply chain participants.
The Houston oil-field services giant on Tuesday said it made a $236 million profit in the three months ended Sept. 30, compared with a loss of $17 million a year earlier. Revenue grew by almost 30 percent to $3.9 billion, up from almost $3 billion a year earlier.
Multiple market participants in the Eagle Ford frac supply chain tell us that the past several weeks have been the toughest (tightest) since the February freeze.
The rig count rose to 543, up from 282 rigs operating a year ago and the highest since April 2020.
Outside of a mini-mobile mine here or there, greenfield expansion is no longer the norm frac sand. Performance Proppants is bucking the norm.
Globally, the predictable consequences of years of under-investment in the finding and development of major new oil and natural gas resources and premature mothballing of power plants fired by coal and natural gas are just now beginning to rear their ugly heads.
While U.S. shale companies have been eager to please investors by cutting costs and returning money to shareholders, these companies now need to drill to maintain production.
As measured by permits, near-term future drilling demand in the Permian and Eagle Ford show no signs of weakness.
U.S. onshore oil and natural gas production is set to rise from October to November, propelled by supply growth in the Permian Basin and Haynesville Shale, according to updated projections Monday from the U.S. Energy Information Administration (EIA).
Labor is short. Everywhere. Supplies are short too. Much like in the broader economy, we hear chatter about a different random item running out in shale every other week or so these days. Here lately, sourcing FR has been a big issue for some. But the king of fearful chokepoints as we think about the outlook for the frac count ramping up into March of 2022 is trucking.
The Sand King is used for continuous delivery of Sand during fracking operations in the Middle East.
This year they are investigating the effect of fluid shear history by utilizing 1500-feet of continuous coiled tubing.
Fastmarkets has discontinued its assessments of the prices for Northern White frac sand due to a shift in demand which has reduced the traded volumes for these grades and this origin.
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• Nick Cook, Petroleum Connection
• Tim McMahon, UT Bureau of Economic Geology
• Ryan Hassler, Rystad Energy
• Joseph Triepke, Infill Thinking
• Hayden Gillespie, Black Mountain Sand
• Marcus Morton, Cyber Square
• Adam Katz, Badger Mining Corp.
• Brian McConn, Atlas Energy
• Pete Cook, Petroleum Connection [M]
• Kevin Fisher, PropX
• Bob Carter, IAC
• Chris Cloud, Saber Asset Group
• Ryan Zorn, Liberty Energy
• Sam Reynolds, Marathon Oil [M]
• Aric Christman, Encino Energy
• Charlie Crisp, Crisp Supply Chain Solutions
• Jose Sagaseta, Vorto [M]
• Matt Martinez, Texas Chrome Transport
• Sergio Sabatini, OmniTRAX
• Isaiah Martinez, WTS Energy Group
• Rick Pattillo, Lobo Logistics
• Nick Cook, Petroleum Connection
• Kirby Wilkerson, KBW Partners [M]
• Dane Walker, Wall Street Sand Company
• Dr. Anthony Konya, Konya Mining Company
• Jim Otteman, Imperium Enterprises
• William Hitters, CEO, Luxmath Consulting
• Alex Meleshko, LIUM Research [M]
• Matt Oehler, PropX
• Anna Omsberg, SandPile
• Steve Brock, Nomad Proppants
• Nick Cook, Petroleum Connection [M]
• Chris Samanns, Signal Peak Silica
• Dave Frattaroli, High Roller Sand
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