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Nick Cook, Editor
Issue #365 | March 23, 2022
Private E&Ps getting some great coverage this week as their nimbleness has allowed them to quickly respond and adapt to this market. Especially without being restrained by pressures of major stockholders, they’ve been able to do what makes sense.
Other news discussing how sand problems in west Texas are moving south, North Dakota’s production could climb up to 100,000 barrels per day, and discussions about how frac sand supply, the use of DUCs, and investor wariness are dampening the industry’s ability to meet demand.
In fun recreation stories, check out sandboarding in Monahans and nature walks at sand mines in Wisconsin.
Lots of great articles to read this week, so pour the coffee and dig in.
And now, the news…
South Texas frac sand market has taken a turn for the worse if you are buying sand.
If limited inventories of in-basin sand and a shortage of truck drivers persist, companies may have no choice but to lean more on rail-dependent sand from the Upper Midwest, which could lift Class I railroads’ carloads.
With oil prices today gyrating around $100 a barrel, Endeavor Energy Resources, and a few other privately held U.S. drillers, have emerged as pivotal players in the global energy market.
Since 2020, the private E&P activity in the unconventional drilling mix has moved up substantially.
North Dakota’s oil output could climb another 100,000 barrels per day by the end of 2022 amid high crude prices, a state energy regulator estimates.
After picking up a load of sand in Monahans, try sandboarding in this state park.
E&Ps rethinking the push to "unbundle" their services as challenges grow.
Inflation-adjusted gas prices are at their highest levels since 2014 and similar to what U.S. drivers saw in the early 1980s.
"The [frac sand] market is getting tighter in terms of availability, pricing is higher, and then even if you can source the sand, there are issues [such as] can you get the trucks to move it to where you need it?" William Janela, analyst at Credit Suisse, tells Axios.
Efficiency has driven US shale gas production to new heights even as E&P companies continue to pursue a low- to no-growth strategy, but challenges producers have managed to avoid so far loom on the horizon.
“Even if oil jumps to $200 a barrel today, there’s nothing more that can easily be done,” said Manish Raj, chief financial officer at private oil producer Velandera Energy Partners LLC in Louisiana.
Analyst predictions about factors that could lead to $200+ oil.
A last mile system design new to the Lower 48 but experienced abroad makes it’s Permian debut.
You can visit nest boxes to help band America's smallest falcon at Badger Mining.
Calfrac Well Services Ltd., a Calgary-based specialist in hydraulic fracturing that works in Canada, as well as Argentina, Russia and the United States, said a revival in drilling last year and commodity prices provide momentum, but there is uncertainty on the horizon.
Zacks Investment Research upgraded shares of Smart Sand from a hold rating to a buy rating in a research note released on Thursday morning, Zacks.com reports.
Chart detailing the capex trend for public E&Ps in 2022.
The upgrade reflects Covia's earnings recovery and significant deleveraging in 2021, driven by strong execution and favorable end markets.
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• Nick Cook, Petroleum Connection
• Tim McMahon, UT Bureau of Economic Geology
• Ryan Hassler, Rystad Energy
• Joseph Triepke, Infill Thinking
• Hayden Gillespie, Black Mountain Sand
• Marcus Morton, Cyber Square
• Adam Katz, Badger Mining Corp.
• Brian McConn, Atlas Energy
• Pete Cook, Petroleum Connection [M]
• Kevin Fisher, PropX
• Bob Carter, IAC
• Chris Cloud, Saber Asset Group
• Ryan Zorn, Liberty Energy
• Sam Reynolds, Marathon Oil [M]
• Aric Christman, Encino Energy
• Charlie Crisp, Crisp Supply Chain Solutions
• Jose Sagaseta, Vorto [M]
• Matt Martinez, Texas Chrome Transport
• Sergio Sabatini, OmniTRAX
• Isaiah Martinez, WTS Energy Group
• Rick Pattillo, Lobo Logistics
• Nick Cook, Petroleum Connection
• Kirby Wilkerson, KBW Partners [M]
• Dane Walker, Wall Street Sand Company
• Dr. Anthony Konya, Konya Mining Company
• Jim Otteman, Imperium Enterprises
• William Hitters, CEO, Luxmath Consulting
• Alex Meleshko, LIUM Research [M]
• Matt Oehler, PropX
• Anna Omsberg, SandPile
• Steve Brock, Nomad Proppants
• Nick Cook, Petroleum Connection [M]
• Chris Samanns, Signal Peak Silica
• Dave Frattaroli, High Roller Sand
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