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Nick Cook, Editor
Issue #362 | March 2, 2022
Frac sand Ponzi scheme, new mines, many investor calls discussing sand, and oh-by-the-way oil prices soar past $100 with the Russian aggression.
Our thoughts and support go out to the folks in Ukraine. Domestically, an already insane demand only looks to soar as the Ukrainian war unfolds. Between that and the inability to keep a steady sand supply, it begs the question: “How high will oil prices go?” 60 million barrels of oil to be released, but that is only a band-aid to what looks like will be rising prices with no quick-fix to oil and gas supply (with sand scarcity playing a major role in holding the reins back).
Also, we are switching our website providers, so we apologize for any issues you may have encountered with our website or sending us emails.
And now, the news…
Read about a couple more sand plant developments coming online – their inventory will be snatched up fast.
41-year-old Marco "Sully" Perez Jr. has been indicted by a federal grand jury in Midland for his role in a Frac Sand Ponzi scheme.
Decision comes as oil prices surge above $100 a barrel over worries about Russian crude production.
Anecdotes from some of the craziest moves folks are making just to bring in very expensive sand.
Shale producer Chesapeake Energy on Thursday said it was seeing higher costs related to hydraulic fracturing and sand, as inflation continues to hit the oil and gas industry.
"Our fourth quarter and full year 2021 results reflected positive market momentum as we continued to navigate a global economic recovery.” – CEO Bryan Shinn
How did the market respond to much-better-than-expected sand outlooks for US Silica?
Oil and gas have proven potent in changing Moscow’s behavior before, whereas selective measures only tend to strengthen autocrats.
As the economic fallout from Vladimir Putin’s invasion of Ukraine rippled across the global oil markets, U.S. consumers face the prospect of even higher fuel costs at a time when gasoline is already selling at a record in some parts of the country.
U.S. oil production is a noble cause, even when the industry has been underappreciated (and even demonized) by political agendas promoted by virtue-signalers who themselves are oil-dependent consumers.
Refiners balk at buying Russia’s oil and banks refuse to finance shipments of Russian commodities, fearing the impact of financial sanctions.
EOG highlighting ESG: “Utilizing local sand and water pipelines includes the added benefit of removing trucks from the row of contributing to a safer oilfield with lower emissions.” – COO Billy Helms
Ovintiv utilized Simul-Frac on 90% of its Permian completions in 2021.
“We are providing our own sand from our own third party operating sand mine. So we've got that contract in place basically through the rest of the year, which significantly helps us offset additional inflationary pressures in sand which are quite high right now in this market.” – COO Karen Chandler
Diamondback Energy Inc. is aiming to keep oil production flat in the Permian Basin this year, part of a larger trend among Lower 48 exploration and production (E&P) firms to ensure healthy shareholder returns amid a bullish price cycle.
Michigan State Supply Chain Professor discussing the importance of changing the narrative around fracking in order to combat Russia’s aggression and boost the American economy.
By the summer, it is expected that the supply of shale oil might be cut due to inadequate amounts of frac sand. At the same time, summer is the peak time for oil demand.
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