Nick Cook, Editor
Issue #481 | August 14, 2024
In this week’s digest, we are looking at broader market conditions particularly how it relates to pressure pumpers, E&P capex vs. cost of business, and how global oil demand is affecting production.
All in all, a fairly light week of news – let’s dig in!
And now, the news…
ProFrac shared their latest results and market outlook this week, and frac market challenges were apparent in the numbers.
A graph of change in various parameters for the business of frac’ing on US Land since 2012.
There are many recent E&P comments on well costs / service pricing from E&P earnings season.
EOG buys the right to drill underneath an Ohio wildlife area.
Boots on the ground report from the heart of northeastern shale.
However, demand is still seen at healthy levels—well above the historical average of 1.4 million barrels a day seen before the pandemic, according to OPEC.
Within the past couple weeks, most public E&P operators posted 2Q24 results and shared 2024 D&C plan updates.
Over 500 pumping hours, the team pumped 109 million pounds of proppant.
What’s shale doing about the hottest trend in the broader economy this year?
ProFrac reported total revenue of $579.4 million for the three months ended June 30, 2024, representing a decrease of $129.8 million from the same period in 2023.
Data points following where budgets are looking at the current spend rate.
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- separate golfer registration required
- Ryan Hassler, Rystad Energy
- Joseph Triepke, Infill Thinking [M]
- Greg Lanham, President, Sand Revolution
- Joseph Triepke, Infill Thinking [M]
- Steve Brock, Nomad Proppants
- John Young, Smart Sand
- Ryan McMaster, Delta Sands
- Pete Cook, Petroleum Connection [M]
- Sanjiv Shah, Piper Sandler
- Charlie Crisp, Crisp Supply Chain Solutions [M]
- Steven Anderson, HighPeak Energy
- Frank Zamora, Premier Corex
- Jason Schumacher, O'Melveny
- Greg Garcia, Solaris Oilfield Infrastructure
- Matt Oehler, PropX
- Bob Carter, IAC [M]
- Chris Ellis, Assured Integration
- Alex Aldach, Freedom Propants
- Michael Brannon, Iron Oak Energy
- Jason Willmarth, Superior Belt Filter
- Evening open for client dinners
- Marcus Morton, Cyber Square
- Joe O'Rourke, Cyber Square [M]
- Chris Samanns, Signal Peak Silica
- Corey Donaldson, ProFrac
- Paul Sheperd, FCI Sand
- Michael Montgomery, Detmar Logistics
- Alex Meleshko, LIUM Research [M]
- Candace Rowell, Expand Energy
- Lindsey Hopwood, Halliburton
- Josh Riso, Liberty Energy
- William Hitters, Luxmath Consulting
• Nick Cook, Petroleum Connection
• Tim McMahon, UT Bureau of Economic Geology
• Ryan Hassler, Rystad Energy
• Joseph Triepke, Infill Thinking
• Hayden Gillespie, Black Mountain Sand
• Marcus Morton, Cyber Square
• Adam Katz, Badger Mining Corp.
• Brian McConn, Atlas Energy
• Pete Cook, Petroleum Connection [M]
• Kevin Fisher, PropX
• Bob Carter, IAC
• Chris Cloud, Saber Asset Group
• Ryan Zorn, Liberty Energy
• Sam Reynolds, Marathon Oil [M]
• Aric Christman, Encino Energy
• Charlie Crisp, Crisp Supply Chain Solutions
• Jose Sagaseta, Vorto [M]
• Matt Martinez, Texas Chrome Transport
• Sergio Sabatini, OmniTRAX
• Isaiah Martinez, WTS Energy Group
• Rick Pattillo, Lobo Logistics
• Nick Cook, Petroleum Connection
• Kirby Wilkerson, KBW Partners [M]
• Dane Walker, Wall Street Sand Company
• Dr. Anthony Konya, Konya Mining Company
• Jim Otteman, Imperium Enterprises
• William Hitters, CEO, Luxmath Consulting
• Alex Meleshko, LIUM Research [M]
• Matt Oehler, PropX
• Anna Omsberg, SandPile
• Steve Brock, Nomad Proppants
• Nick Cook, Petroleum Connection [M]
• Chris Samanns, Signal Peak Silica
• Dave Frattaroli, High Roller Sand
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