Frac Sand Weekly News Digest

ProFrac earnings last week were met with applause on Wall Street.

Regarding sand: "We are a little behind schedule on the transformation our team has embarked on, primarily due to weakness in natural gas activity and the impact of weather."

"Smart Sand had a strong first quarter," stated Charles Young, Smart Sand's Chief Executive Officer. "Compared to the fourth quarter of 2023, sales volumes increased by over 30%, contribution margin doubled and Adjusted EBITDA increased by almost..."

The review requested by Canada’s labor minister could delay a threatened walkout at the country’s two big railroads.

Updates from all the public E&Ps.

Here are 7 market intel quick hits in the frac supply chain!

Covia Holdings Corp. investors’ agreement to settle their claims against the bankrupt fracking sand producer’s former CEO for $6 million received final approval from a federal court Thursday.

The Vienna-based group said in its monthly report that it continues to forecast oil demand to grow by 2.2 million barrels a day this year and by 1.8 million barrels a day in 2025

Interesting notes to consider despite the pricing pressure affecting the frac market right now.

Ward is responsible for continuing to build out and lead PropFlow’s growing operations as the company provides innovative, patented technology, designed to eliminate debris from proppant at the wellsite, to producers in the Permian Basin and other oil and gas producing regions.

They realized gross margin of $35.6 million and Adjusted Gross Margin of $43.2 million, increases of 12% and 14%, respectively, when compared to the first quarter of 2023