This Week’s Market Buzz

• U.S. West Texas Intermediate crude fell 3 cents at press time to $57.11 a barrel. Brent crude fell 23 cents to $63.04 a barrel. It settled down 2.1 percent on a wave of profit-taking after the North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015.

• Select Sands Corp confirmed that there is no material change in company operations in light of a recent upward movement in the company’s stock price. At the same time, Select Sands views this as an opportunity to announce that it has received its first purchase order to ship product by barge. Under the terms of the agreement, the company will ship 10,000 tons of frac sand to the Northeastern United States for use in hydraulic fracturing operations in the Utica and Marcellus shale basins. Zig Vitols, president and chief executive officer, commented, “While rail and truck remain as our primary shipping method, the addition of barging capabilities opens the opportunity to significantly increase the number of destinations and volume shipped. Barging to the Utica and Marcellus displays our ability to reach all the basins and plays that surround our Arkansas operations. In addition, our ability to also ship southward on the Mississippi River will give access to the Gulf Coast which will enhance our ability to more efficiently access the Eagle Ford basin that is currently served by rail.”

• Thirteen Canadian Pacific Rail (CP) cars derailed in La Crescent, Minn., on Nov. 19, spilling an unknown amount of frac sand adjacent to the tracks. CP Media Relations Manager Andy Cummings said none of the material entered the Mississippi River and no injuries were reported.

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