Nick Cook, Editor
Issue #418 | April 12, 2023
Next Friday is frac sand’s biggest Spring networking and educational event (The Update). Leading up to it, we’re seeing the M&A conversations in NA shale overall increase as a result of the Exxon rumors.
Time to dig into your Wednesday morning source of frac sand’s latest and greatest.
And now, the news…
Rumors of a potential buyout of big Permian Basin producer Pioneer Natural Resources by ExxonMobil have circulated periodically for years now, long before Pioneer made the decision to become a so-called “pure play” company focused solely on the most prolific oil and gas region in the U.S.
Siren Energy is an integrated natural gas compression and CNG delivery business focused on the Permian Basin.
Even given the trends in frac fleets, this one comes as a surprise.
The Sand Agreement provides a minimum commitment of 20,000 U.S. tons per month of 40/70 frac sand with the option for the customer to purchase additional volumes.
Whether rig count is down or up depends more and more on who you ask these days.
While Encino’s offer was rejected, it’s likely a foreshadowing of more to come after a new state law effectively forced opened the door for companies seeking to drill under Ohio’s state parks, some of which sit on Marcellus and Utica shale formations.
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