According to The Free Press, a judge has ordered the sale of Jordan Sands quarry properties in Mankato, Minn., for $8 million to help settle the company’s default on a $22 million loan.
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Here Come the Robots
Even when the COVID-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally…
Read MoreCDE Finds Solution for Argentinian Frac Sand Plant
La Chola has been producing sand and aggregates since 1994 in the Pampa Soler, Concordia province of Entre Rios in Argentina. A family-run company, it is divided into two businesses with La Chola II established to focus on the extraction of sand for hydraulic fracking.
Read MoreDrilling Activity Predicted to Increase 12%
After a challenging 2020, oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity. Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels. In 2022 drilling is set to increase even more, by another 19% year-on-year to about 64,500 wells,…
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The Organization of the Petroleum Exporting Countries and allied producers have agreed to gradually increase their output over the next three months. The move follows a sharp increase in oil prices, and a call from the United States to keep energy affordable. The OPEC+ alliance of crude producers has been holding back roughly 8 million barrels per day from global…
Read MoreIAC Opens New Texas Service Center
Industrial Accessories Company (IAC), known for turnkey plant design and construction within the frac sand industry (with more than 45 previous frac sand plant projects), announced the opening of a new service center in Monahans, Texas, to support customer needs in the Permian Basin. IAC’s prior field service office was located in Kermit, Texas.
Read MoreMWS, Crisp Industries Team Up for Success
MWS Equipment announced that Crisp Industries Inc. will join its global network of dealers as an exclusive partner covering Texas, Oklahoma, Arkansas and Louisiana. Focused on providing complete project management services, Crisp Industries is the perfect partner to support MWS Equipment’s ongoing commitment to the U.S. market, the company stated.
Read MoreNRP Pays Down Debt During COVID
Natural Resource Partners L.P. (NRP), a master limited partnership headquartered in Houston, is a diversified natural resource company that owns, manages and leases a diversified portfolio of mineral properties in the United States including interests in coal, industrial minerals and other natural resources. In addition, NRP owns an equity investment in Ciner Wyoming LLC, a trona-ore-mining and soda-ash-production business.
Read MoreSource Energy Optimistic for Second Half of 2021
Source Energy Services Ltd., Calgary, Alberta, Canada, announced its financial results for the 12 months ended Dec. 31, 2020.
Read MoreThis Week’s Market Buzz
• At press time, oil prices fell more than 7%, recording their biggest one-day drop since September as traders weighed signs that demand in Europe could falter and data showing that crude remains plentiful. U.S. crude prices ended the day down 7.1% at $60 a barrel following their fifth consecutive daily decline. The slide halts what had been a nearly…
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