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Nick Cook, Editor
Issue #347 | November 3, 2021
Start today with all the latest in the frac sand world. In this week’s digest: inflationary trends, simul-fracs on earnings calls, investors starting to put more back into oil and natural gas, and more!
And now, the news…
Antero management told investors on Thursday morning that they intend to bring online a large scale in-basin frac sand plant in the Marcellus before year-end.
While Liberty benefited from service price increases in 3Q2021, it was “not immune to the serious supply chain issues the world faces today as faster cost increases more than offset higher prices during the period,” the CEO said.
On the one hand, high commodity prices help to offset rising costs for E&P operators. On the other hand, hedges in place through mid-2022 may force some E&P organizations to pass through a period of friction where costs move ahead of their own sales price.
Permian Basin oil production resurged this year, bringing continued expansion in facilities throughout the region and industry aimed to accommodate the growing operations.
Infill Thinking has summarized the active frac and rig counts disclosed by each OFS and E&P company to report so far this earnings season, starting with the E&Ps.
“We tested a number of things like simul fracking and other optimizations.” – Herb Vogel, SM CEO
“We also benefited from a higher level of simul frac work” – William Hendricks, Patterson-UTI CEO
The US onshore rig count per Baker Hughes added 2 units to 529 rigs working this week. The US land rig count is now up 289 rigs from the 2020 trough in August.
Shares of Petroteq Energy Inc saw $6.6 million in trading volume on Tuesday alone after news of a $500-million takeover offer from Viston United Swiss AG.
Record U.S. liquefied natural gas exports to China contrast to just a couple of years ago during the trade war.
Northern White Sand was 40% of frac sand sales in 3Q21 for US Silica, higher natural gas prices are weighing on their margins, and more.
Yields on speculative-grade energy company debt are near record lows, fueling a surge in issuance by players in sector.
On Oct. 26 Alaska’s Division of Oil and Gas posted an Oct. 22 revised application from Oil Search Alaska to form a 150,556-acre Horseshoe unit. If approved, 40 state leases and 12 federal leases will be in the proposed unit west of the central North Slope.
Fund managers are buying energy futures to protect against inflation and creating a self-fulfilling prophecy in the process.
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