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Nick Cook, Editor
Issue #471 | June 5, 2024
2 big acquisitions this week affecting the frac sand world (particularly in the Permian). ProPetro expands their services by acquiring relative new-kid-on-the-block and wet sand logistics company, Aqua Prop. Also, ConocoPhilips will buy out Marathon Oil in what is the latest mega-deal in the E&P space. Read about the details of each deal in our digest as well as deeper analysis into what the impacts could look like for frac sand’s supply chain.
In other news, Vitreo Minerals provides an update on their big in-basin play in the Montney shale play, outlooks on the future of M&A, and wet sand comes to the Rockies.
And now, the news…
Sam Sledge, CEO of ProPetro, stated, "The acquisition of Aqua Prop aligns seamlessly with our strategy of pursuing more innovation."
Formed January 2023, Aqua Prop is an early stage, high-growth wet sand wellsite pile solution service company.
Vitreo's Angus project will add 2 mpta of Tier 1 frac sand to the BC Montney market ensuring sustainable completion activity amid growing demand.
Major pressure pumpers broken out to clarify who owns their own sand mines and logistics arms.
“While others have targeted inventory and growth, this transaction looks largely based around optimization of cost and approach in the Eagle Ford and Bakken shales, maturing assets for both companies,” said Citi’s Alastair Syme.
Some frac sand insights from the announcement, and two charts for context on the combining D&C fleets.
Oil-patch consolidation has been a big game of musical chairs: No one wants to be left standing.
After looking at upstream consolidation monitors after COP/MRO, a few things stand out.
Details on what percentage of mines are at risk in both the short-term and the long-term.
The Lobo Logistics' team has been busy executing the first wet sand program in the Rockies for a high throughput client.
7 quick (but notable) items worth updating yourself on.
Deal signals oil prices will remain elevated through the U.S. presidential election.
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