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Nick Cook, Editor
Issue #385 | August 10, 2022
Come join us this evening for beers and pizza in Houston at SpindleTap from 4:30 – 7:30! Great beers, and even better conversations.
Big news this week too as NexTier buys CIG Logistics, and we think more about the M&A landscape in the frac sand space. Also, conversations about 2023 are already beginning, so make sure you’re registered to join in on those at November’s conference.
Another exciting week as shale continues to turn a profit, so grab the coffee (before your happy hour beer) and dig in!
And now, the news…
Big news as NexTier acquires CIG and expands their last mile offering.
The Company will rebrand the entire last mile logistics operation as NexMile Logistics.
We think through some reasons why a lot of oilfield service companies could be up for sale – many more than normal at this point in the cycle – and what this could mean for M&A and consolidation going forward.
Pioneer Natural Resources Co. CEO Scott Sheffield said Wednesday he is optimistic “that the oil price is going to continue to march forward, with probably more upside than downside.”
After a decade of losses and shareholder frustration, the U.S. shale patch is generating record amounts of cash flows and is earning record profits this year as oil prices soar while firms prioritize returns to investors.
New player in the area announced their intentions to bring capacity online in 2023 at this location in Lea County.
Many companies in oil patch are boosting their budgets to cope with soaring prices of raw materials and services.
Their comments may have actually understated the extent to which this “run on 2023 OFS capacity” is happening.
The oilfield services company is looking to boost efficiency and pass on higher costs to customers.
A breakdown for just how good of a deal this looks to be for NexTier...
Vogel said, “The wells have outperformed our expectations due both to great rock and higher proppant loading in their completions."
The most notable of the sand remarks made by E&Ps on their conference calls over the past couple weeks.
he Pecos-East Rail Terminal Istmo acquired in 2021, located in Pecos, Texas (Reeves County) consists of two unit-train loops with over 20,000 feet of usable track and direct connection to the UPRR.
In some cases the adds are blatant. But in others, they are more subtle...
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