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This Week’s Market Buzz

•    U.S. oil production surpassed 12 million barrels a day in April, further extending the nation's record output during the fracking boom, the U.S. Energy Information Administration reported.

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This Week’s Market Buzz

•    Ryan Carbrey of Houston-based energy research firm Rystad Energy said shale energy deposits in North Dakota and Pennsylvania still rely on Northern White sand, while pointing out that in the Upper Midwest, mines with the annual capacity of 18 million tons of frac sand have already been idled this year, and that number may rise to 30 million tons by the end of 2019. Frac sand operations in Texas and Oklahoma are currently meeting most of the needs in the Permian Basin.

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This Week’s Market Buzz

•    Wayfinder Corp. has partnered with TR Transport Inc. to provide last-mile frac sand delivery and logistics solutions. The added service strengthens the company’s commitment to “Total Proppant Management,” which includes Wayfinder’s ability to provide Northern White, Regional and Resin Coated Sand through several strategic locations across the Western Canadian Sedimentary Basin. Wayfinder’s commitment to Total Proppant Management results in low risk, convenient, cost effective solutions for oil and gas companies operating in western Canada, the company stated.

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This Week’s Market Buzz

•    Gaurav Sharma, writing in Forbes magazine, said “No matter which data aggregator you turn to, chances are recent records would rarely indicate prices exceeding $30 per ton for all frac sand types. These include the Northern White, Brown Sand from Hickory formation, and in-basin sand from West Texas mines. That's because a supply and demand imbalance in tandem with capital expenditure constraints of majority of U.S. shale players are hammering the market.”

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This Week’s Market Buzz

•    Two people died following a construction accident at a frac sand storage and shipping facility in northwestern Alberta, Canada, according to the CDC. Occupational Health and Safety is investigating the workplace incident which took place at a Source Energy Services terminal facility south of Fox Creek.

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