Frac Sand Weekly News Digest
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…
This Week's News
Confirmation Complete: Nextier Acquires CIG’s Last Mile, Confirming Infill Thinking’s Earlier Report
Big news as NexTier acquires CIG and expands their last mile offering.
NexTier asset acquisition expands Last Mile Logistics capabilities; NexTier completes Coiled Tubing sale
The Company will rebrand the entire last mile logistics operation as NexMile Logistics.
Got Cash? More Private Equity Backers Of Oilfield Firms Could Be Heading For The Exits
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’s Sheffield Sees ‘More Upside than Downside’ for Oil Prices
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.”
Shale Companies Prepare For Their Best Quarter Ever
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 Announces New Permian Sand Mine, Confirming A Previous Infill Thinking Report
New player in the area announced their intentions to bring capacity online in 2023 at this location in Lea County.
Shale Drillers Warn of Higher Costs as They Report Record Profits
Many companies in oil patch are boosting their budgets to cope with soaring prices of raw materials and services.
A “Run On 2023 Service Capacity” By E&Ps Suggests OFS Stays Tight
Their comments may have actually understated the extent to which this “run on 2023 OFS capacity” is happening.
Halliburton CFO Weighs on Debt, Capital Spending
The oilfield services company is looking to boost efficiency and pass on higher costs to customers.
Follow Up Thoughts On NexTier Acquisition Of CIG’s Last Mile Business
A breakdown for just how good of a deal this looks to be for NexTier...
SM Energy’s Austin Chalk Output Solid, with More Wells Turning to Sales
Vogel said, “The wells have outperformed our expectations due both to great rock and higher proppant loading in their completions."
E&P Sand Talk Roundup As High Peak Mentions Their New In-Field Sand Initiative
The most notable of the sand remarks made by E&Ps on their conference calls over the past couple weeks.
Istmo Energy Announces the Start of Operations at its Pecos-East Rail Terminal
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.
More Rig Adds Coming – Public E&Ps Finding Creative Ways To Lift 2H22 Drilling Programs
In some cases the adds are blatant. But in others, they are more subtle...
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