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Fracking to Be Banned in New York State

Gov. Andrew M. Cuomo’s administration announced that it would ban hydraulic fracturing in New York State because of concerns over health risks, a move that strikes a serious blow to frac sand producers supplying product to the Marcellus and Utica Shale plays in that state.

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CanFrac Assets Sold

Select Sands Corp. reported that a special meeting of shareholders of CanFrac Sands Ltd. was held on Dec. 16, 2014, and pursuant to an Offer to Purchase and Purchase and Sale Agreement dated Nov. 25, 2014, entered into by the CanFrac and a private “numbered” Alberta company, the numbered company has agreed to purchase the properties, assets and undertakings of the corporation, comprising its frac sand business, as a going concern, including the goodwill associated with the business for a purchase price of $3,500,000.

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