Nick Cook, Editor
Issue #369 | April 20, 2022
Atlas Sand has hired Goldman Sachs to research the feasibility of an IPO. This would be the only frac sand supplier to go public since Smart Sand’s in 2016. While they are still researching the option, it’s clear signal that the market is solid and that the sun is shining brighter for frac sand.
Another few important news updates are Halliburton’s CEO discussing shipping NWS to TX, in depth data report on one of Smart Sand’s mines, and an update to the Meteor Timber mine case.
Enjoy this important weekly update.
And now, the news…
The IPO would value the company between $2bn and $3bn including debt, per Reuters sources.
Oil and gas tycoon Bud Brigham is exploring an initial public offering (IPO) of Atlas Sand, people familiar with the matter said, in what would be the first U.S. listing of an oilfield services company since 2018 as the industry makes a comeback.
In December, a state appeals court panel rejected Atlanta-based Meteor Timber’s request to reinstate a permit to fill 16 acres of wetlands.
Ever wonder what the actual capex, cash operating cost, sales price at the mine-gate, volume forecast, etc. looked like for one of the nation’s biggest frac sand mines?
Halliburton’s conference call this week echoed research presented in Infill Thinking’s recent stream on completions trends around pricing, materials and logistics.
"I think the sand is largely behind us. That was a good example of underinvestment in supply chain." - Jeff Miller
Refiners are trimming output and in some cases closing down because of falling demand at home and abroad.
Very intriguing opportunity for a new frac sand mine in Australia.
Oilex and Schlumberger have executed a Letter of Intent for the supply by Schlumberger of hydraulic fracturing services, coiled tubing and nitrogen services and perforation services for the planned re-frac of the Cambay C-77H well in Gujarat, India, in July 2022.
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