Frac Sand Weekly News Digest
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…
This Week's News
ProPetro Acquires Aqua Prop, an Innovative Wet Sand Solutions Provider
Sam Sledge, CEO of ProPetro, stated, "The acquisition of Aqua Prop aligns seamlessly with our strategy of pursuing more innovation."
ProPetro Snaps Up Aqua Prop
Formed January 2023, Aqua Prop is an early stage, high-growth wet sand wellsite pile solution service company.
Proximity Canadian Frac Sand Mine Provides Status Update: Live by End of Next Year
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.
Pressure Pumper Sand & Last Mile Capabilities
Major pressure pumpers broken out to clarify who owns their own sand mines and logistics arms.
ConocoPhillips is buying Marathon Oil for $17.5 billion in what may be the last big oil deal
“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.
Frac Sand & D&C Fleet Analysis For Conoco / Marathon Combination
Some frac sand insights from the announcement, and two charts for context on the combining D&C fleets.
Big Oil Companies Will Just Keep Getting Bigger
Oil-patch consolidation has been a big game of musical chairs: No one wants to be left standing.
Shale E&P Consolidation Is Happening 5x Faster
After looking at upstream consolidation monitors after COP/MRO, a few things stand out.
Which Permian E&Ps Should Worry More About Their Frac Supply Chains Post-DSL Listing?
Details on what percentage of mines are at risk in both the short-term and the long-term.
LinkedIn Post: Lobo Logistics
The Lobo Logistics' team has been busy executing the first wet sand program in the Rockies for a high throughput client.
In Other News… H2O M&A, Werewolves 🤝 Scorpions, Aqua Prop Reaction, WTX AI Data Centers, & more…
7 quick (but notable) items worth updating yourself on.
OPEC+ Agrees to Extend Production Cuts in Bid to Boost Oil Prices
Deal signals oil prices will remain elevated through the U.S. presidential election.
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