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This Week’s Market Buzz

• U.S. oilfield-service company Halliburton publicly blamed Canadian National Railway Co. (CN) for frac and sand delivery delays and said the issues would negatively impact its quarterly results by 10 percent. Jean-Jacques Ruest took over the reins at CN in March and has vowed “a sense of urgency” in fixing the company’s strategic issues.

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This Week’s Market Buzz

• Adelphi Construction LC, owned by Industrial Accessories Co. (IAC), recently completed the design/build of two frac sand facilities for Preferred Sands in central Texas and is completing three more plants in parallel. The initial two projects included process and design engineering, site prep, wet plant, dry plant, silo storage, loadout, buildings and fully automated control. Upon commissioning of the plant, IAC and its contract team continued to support Preferred with operational expertise, programming and maintenance supplemental support. This allowed Preferred time to balance the wet and dry plant, increase the operational expertise of their staff and ramp production.

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This Week’s Market Buzz

• Oil prices rose after government data showed a large decline in U.S. inventories of crude oil and an increase in demand for gasoline even as the summer driving season prepares to slow down. Light sweet crude for September delivery rose 78 cents, or 1.1 percent higher at $69.30 a barrel. Brent crude rose 0.7 percent to $73.93 a barrel.

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This Week’s Market Buzz

• The global hydraulic fracturing market was estimated at $26.88 billion in 2017 and is witnessing a positive growth of more than 11.5 percent during the short-term period of 2019-2021. This growth will likely show a deceleration post-2022 owing to an expected supply surge, which is shaping up in the global market, according to www.marketexpertz.com.

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This Week’s Market Buzz

• Source Energy Services Ltd. said that its sand volumes for the second quarter were 814,000 metric tonnes (MT), of which, approximately 85 percent were made through Source's Canadian distribution network or at customers' well sites. This brings Source's 2018 six-month sales volumes to 1,456,000 MT, after selling 643,000 MT in the first quarter of 2018.

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