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Nick Cook, Editor
Issue #358 | February 2, 2022
Wall Street is predicting this summer we’ll see $100+ oil. Sand shortage continues to be a pain point for many operators in the Permian (potentially compounding with weather this week). Russia’s potential invasion of Ukraine has potential to play a major impact on US oil and gas. Gas exports from Louisiana have already been increasing dramatically.
With all of the upheaval and potential for growth, top industry leaders will be convening in Houston on Feb 18th for the frac sand update in order to secure their sand supply, find the right partners for maintaining their high-intensity mining operations, and connect with logistics firms that will reduce their NPT.
It’s time for your hot coffee (especially Texans getting ready for the front) and your daily dose of news.
And now, the news…
Wall Street’s summer forecast calls for $100 oil.
With more than four miles of track, the unit train-capable terminal serves the southwestern portion of the Marcellus Basin, and is expected to have a transloading capacity of more than 1 million tons of frac sand per year, Smart Sand reported on Jan. 25.
Over the next several weeks, a flurry of E&P annual capex budget announcements in shale will make headlines and set the tone on the addressable market for oilfield services this year.
WTI and Brent crude oil futures are up in early trading, up at levels not seen since October 2014, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption.
Temperatures below freezing for up to 72 hours straight are leading W TX sand mines to all react differently.
Frac sand revenue was up 30% in the quarter and finished the year over 20% better than 2020.
Read about the biggest takeaways and rig count expansion for H&P.
Bloomberg estimated that natural gas flows to the LNG facility hit a record 5.1 billion cubic feet per day on both 20 and 21 January.
Condolences and prayers go out to the family of the driver in last Thursday’s fatal accident. The Permian Road Safety Coalition will be able to talk more at the frac sand update about how they are working hard to prevent this from happening.
European officials are scrambling to lock down energy supplies they would need to keep their economies churning if hostilities around Ukraine imperil natural gas piped from Russia, and have turned to the U.S. for help finding backup sources beyond Moscow’s control.
This week, commentary by large pressure pumpers during earnings season got us thinking about the ESG-recapitalization trend again.
Some of the West’s biggest oil companies could find themselves in the crosshairs of sanctions now being drafted by their home governments against Russia.
RPC’s conference call this week echoed research presented in Infill Thinking’s recent stream on completions trends around pricing, materials and logistics.
Source Energy Services announces that, subsequent to his appointment as Interim CEO of Nutrien Limited, Mr. Ken Seitz has resigned from Source’s Board of Directors and as Chair of Source’s Health, Safety and Environment Committee.
Calima Energy sees a 30 percent increase in average daily production from its Canadian oil and gas operations over the 2021 calendar year compared to the previous 12 months.
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