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This Week’s Market Buzz

  • According to the Capital Times, Midwest Environmental Advocates, the nonprofit environmental law center, has put together a 29-page petition document that calls on Wisconsin's Natural Resources Board to direct the Department of Natural Resources to conduct a health and environmental study of the state's fastest growing industry, frac sand mining. Residents interested in pushing the state to take a cumulative look at the frac sand mining industry are being encouraged to sign the online petition.

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This Week’s Market Buzz

  • Claim Post Resources Inc. signed an Engagement Letter with P&E Mining Consultants Inc. to complete a Preliminary Economic Assessment (PEA) on the company's Seymourville Frac Sand Project located approximately 200 km north east of Winnipeg, Manitoba. P&E will be retaining Consultec Ltd. to assist in the to provide technical input into the frac sand plant material handling design plus complete a preliminary design of a transload facility in Winnipeg. The PEA will be prepared according to the guidelines set out in National Instrument 43-101.

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This Week’s Market Buzz

  • Eleven minor earthquakes shook central Oklahoma recently, renewing speculation that the area’s oil and gas drilling boom – fueled by fracking – is to blame for an increase in seismic activity. During a 14-hour stretch the U.S. Geological Survey recorded seven quakes ranging from magnitude 2.6 to 2.9 in areas northeast of Oklahoma City. In addition, a 4.3-magnitude temblor hit Langston, and three other quakes ranging from magnitude 2.9 to 3.2 occurred after. There were no reports of major damage or injuries, according to Tulsa World.

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This Week’s Market Buzz

  • The three-person Buffalo County, Wis., Board of Adjustment tabled a conditional use permit for the Seven Sands frac sand mine and wash plant at a recent public hearing in Alma, Wis. The hearing lasted six hours and included expert testimony by consultants hired by Glacier Sands, the company that would operate the mine, as well as attorneys representing the Cochrane-Fountain City School District and John and Nettie Rosenow. Approximately 150 people turned out for the hearing and more than 40 testified. Seven Sands’ landowners, friends and family members, wearing lime green “Sand = Jobs” t-shirts, voiced unconditional support for Glacier Sands and its proposed mining operations. Other speakers expressed a wide range of concerns from environmental issues effecting the health, safety and welfare of the community to problems associated with potential damage to highways, bridges and county roads.

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This Week’s Market Buzz

  • Genscape’s proprietary pipeline models indicate that natural gas production for the 48 contiguous states reached the 70 bcfd level for the first time on Monday, July 21, 2014. This unique milestone demonstrates the ongoing growth in gas production and the continued reliance on natural gas in North America. Using regional natural gas prices in combination with well economics, Genscape provides the most accurate gas production forecasts in the market, with weekly updates and detailed production forecasts for over 50 regions in the Lower 48 and Canada. Genscape has been aggressive in forecasting increasing U.S. natural gas production from shale plays across the country, with record flows in the Marcellus and Utica Shale leading the way.  

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