Frac Sand Weekly News Digest
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…
This Week's News
ProFrac Confirms AST Acquisition And Idles A Haynesville Mine As Soft Frac Market Conditions Weigh On Results
ProFrac shared their latest results and market outlook this week, and frac market challenges were apparent in the numbers.
Frackers Work Hard.
A graph of change in various parameters for the business of frac’ing on US Land since 2012.
E&P Talk About Deflation Surprises & Taking Advantage Of Service Market Conditions
There are many recent E&P comments on well costs / service pricing from E&P earnings season.
Ohio opens another wildlife preservation area to fracking for oil and gas
EOG buys the right to drill underneath an Ohio wildlife area.
Marcellus / Utica Shale Takeaways From Pittsburgh
Boots on the ground report from the heart of northeastern shale.
OPEC Slightly Trims Oil Demand Forecast, Citing Softness in China
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.
Public Shale Operator 2024 Campaign Index
Within the past couple weeks, most public E&P operators posted 2Q24 results and shared 2024 D&C plan updates.
HAL's Vaca Muerta New Milestone
Over 500 pumping hours, the team pumped 109 million pounds of proppant.
Shale Players Look Forward To Powering The AI Data Center Revolution
What’s shale doing about the hottest trend in the broader economy this year?
ProFrac Reports Decline in Revenue
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.
We Reiterate A Warning About Shale E&P Capex
Data points following where budgets are looking at the current spend rate.
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