Sand Prices Boosted by Addition of Drill Rigs
Published: Wednesday, 30 November 2016 15:47
Shale drillers have added 158 rigs since May, according to Baker Hughes Inc. At the same time, companies such as Chesapeake Energy Corp. and EOG Resources Inc. have been increasing their efficiency by cramming more and more sand into individual wells, aiming to extend their reach miles further. That’s boosted sand prices roughly 25 percent to about $24 a ton, according to IHS Inc.
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USGS Estimates Wolfcamp Shale is a Monster
Published: Wednesday, 30 November 2016 15:46
The Wolfcamp shale play in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cu. ft. of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.
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Fairmount Santrol Third-Quarter Report Offers Promise
Published: Thursday, 17 November 2016 11:57
Fairmount Santrol announced results for the third quarter of 2016. Third-quarter revenues were $134.8 million, up 18 percent from $114.2 million in the second quarter of 2016 and down 21 percent from $171.0 million for the third quarter of 2015. Overall volumes sold were 2.4 million tons for the quarter, an increase of 24 percent from 2.0 million tons in the second quarter of 2016 and an increase of 19 percent from 2.0 million tons in the third quarter of 2015.
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OmniTRAX Acquires Assets of Terracor Group
Published: Thursday, 17 November 2016 11:52
OmniTRAX Inc. has agreed to acquire all assets of Terracor Group, a frac sand logistics company, including three transload facilities with vertical silo storage in Texas and Montana. Included in the transaction is a high-quality frac sand mining opportunity located in Wisconsin.
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BMC Opens Research and Development Center
Published: Thursday, 17 November 2016 11:50
A previously unoccupied building in Taylor, Wis., is now home to Badger Mining Corp.'s (BMC) new state-of-the-art Research and Development Center. Renovations to the 5,280-sq.-ft. building, which at one time housed an athletic apparel business and more recently was used for larger meetings and gatherings, began in September 2015 and were completed in early 2016. Final additions to the lab area continued until completion this summer.
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