Nick Cook, Editor
Issue #359 | February 9, 2022
EIA increases their 2022 oil growth output by 20% as the big E&Ps increase their forecasts for expected growth (but of course how big will that growth be?)
Next Friday is the 7th Annual Frac Sand Industry Update! This is the biggest frac sand event of the spring, and so much has changed and developed since we were together last September: oil price has gone up nearly 25%, sand availability has shifted drastically towards a sellers market, and rig count DOESN’T SLOW. We hope you are all able to join us as we hear from across the industry, enjoy lunch with old colleagues, and share reception drinks with new business partners.
And now, the news…
Bullet point summary to update readers on the frac sand situation following last week’s winter weather event in the southwest.
Schlumberger Ltd., Baker Hughes Co. and Halliburton Co., the “Big 3” of the global oilfield services (OFS) sector, reaped solid gains during the final three months of 2021, boosted in part with rising activity in parts of Latin America.
The EIA has revised their production forecast to be more bullish.
CEO Ryan Lance says that they’re budgeting for higher sand prices going forward than they were even 8 weeks ago.
In early-2022, the magnitude of US crude oil production growth this year is a hot topic.
USWS will provide a newbuild Nyx Clean Fleet to work for XCL on a contracted basis for up to three years if all optional extensions are exercised.
A variety of miscellaneous datapoints from around the frac patch from Infill Thinking.
Price increases will range up to 15 percent, depending on the product and grade. The price increases are effective for shipments starting March 1, 2022.
A look at Conoco, Chevron, Exxon Combined Rig Count Trend.
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