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Nick Cook, Editor
Issue #413 | March 8, 2023
NWS plant online, simul-fracs, and IPOs in our space getting some love…
Simul-fracs getting news as some operators shed light on their operations and efficiencies (even in Argentina). Also, doubling-down on NWS as sand supplies remain tight (for now)… And Atlas’ upcoming IPO and PF Holdings success starts to give flicker of hope for capital markets.
And now, the news…
Actual capex, cash operating cost, sales price at the mine-gate, volume forecast, etc. for one of the nation’s biggest frac sand mines.
Atlas Energy Solutions - Austin, Texas, 18 million shares, priced $20-$23, managed by Goldman Sachs/BofA Securities.
This week, Atlas Energy Solutions launched their IPO, and the offering is expected to price next week.
In this update, you’ll find key takeaways from the company’s earnings call that are relevant to the broader frac supply chain marketplace.
The CEO said his Irving-based company will also benefit from the continued utilization of simul-frac operations and will reduce costs by $200,000 per well, and they'll be implementing a third full-time simul-frac fleet.
Building out substantial water infrastructure has allowed them to implement simul-frac completions across their position.
"Drilling faster and completing faster was the big thing as we really embedded Simul-Frac into the portfolio and local wet sand and those, I think, were good winners for us last year." CEO Brendan Michael McCracken
Forecasts and actuals diverge in this latest "look-back."
It is expected that more and more companies in Vaca Muerta opt for this technique and it becomes commonplace.
Thoughts on the importance of certain customers to certain OFS providers.
Their roll-up strategy and the expanding capabilities that come with it have Wall Street unanimously bullish on the stock.
We take a look at the latest datapoints in the gas crash’s impact on oilfield activity…
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