Nick Cook, Editor
Issue #354 | January 5, 2022
Busy and exciting. That’s how we’re rolling into this new year.
Oil prices are rebounding. Rig count keeps the throttle on. E&Ps are boosting production. And many folks need more sand (and the truckers to haul it). NexTier stock is booming. LNG exports are flowing to Europe. Lots to read about this week.
With this momentum and boost, it is so important to be with the decision-makers in Houston on Friday, Feb 18th. Just a little over a month away! Great opportunity to make deals, secure your sand supply, find the right partner for your equipment needs, network with those who can deal with your logistics issues. Sponsorships are still available for high-profile exhibitors. For anyone coming from out of town for the update, you can get a discounted rate at the Hyatt Regency across the street.
And now, the news…
NexTier Oilfield Solutions Inc. soared more than 20% after the fracking provider disclosed higher-than-expected quarterly sales, signaling an acceleration in U.S. shale drilling.
OPEC and a coalition of Russia-led group of oil producers agreed to continue pumping more crude, pushing oil prices higher as the group bet that the Omicron variant of Covid-19 won’t have the sort of devastating effect on demand as previous waves of the virus.
Every year, sand trucking is a problem from Christmas through early-January. This year it appears to be worse than normal.
U.S. flotilla endeavoring to deliver much-needed fuel to Europe.
Rig count and frac count were exceptionally resilient through year end, with little to no holiday slowdown apparent in market research.
Energy prices rose an average of 59 percent last year, the most of any commodity, as the economic recovery from the global pandemic boosted demand for crude and petroleum products.
The Dallas Federal Reserve Bank published results of a new poll this week showing that almost half of 131 oil and gas firms surveyed plan to increase oil and gas production during 2022.
Oil company executives have become openly frustrated with a Biden administration that spent months shunning the industry, only to start urging in recent weeks that it produce more oil to alleviate rising gasoline prices.
… 2. Rig count gains outpace frac … 7. M&A Transactions In Sand, Water, & E&P…
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Federal Reserve Bank of Dallas.
The S&P 500 index’s energy sector is on pace for the biggest percentage gain on record, marking a comeback for a sector hard hit by early pandemic shutdowns.
There are a lot of exciting changes afoot in the mining industry, and we are already seeing the benefit of new technology and its impact on safety, productivity, and sustainability.
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