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This Week’s Market Buzz

  • The CEO of CSX, Michael Ward, stated during the company’s investor conference call, “Right now, as we look out through 2015 we don't see any significant impact at all in our crude oil by rail into the eastern markets, and certainly in our frac sand markets where we're moving into the Utica and the Marcellus area, where the natural gas and the natural gas liquids are, we don't think it will impact the frac sands that we're moving into those areas at all.”
  • A West Texas businessman has abandoned his proposal for a rail facility to load sand onto trucks across from a residential neighborhood. The businessman, Lee Pfluger, ended months of debate by making his announcement during a civic meeting in San Angelo, Texas. “The parties involved in the Hill Street sand depot hearing have agreed that such a facility will not be located on the San Angelo property,” city officials announced on a social media account.
  • Minnesota Sands is pursuing its proposal for a cluster of frac sand mines in Winona and Fillmore counties in Minnesota. Minnesota Sand owner Rick Frick made the first payment toward an in-depth environmental review, an Environmental Impact Statement (EIS), required by the state for the cluster of mines, according to the Winona Post.