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This Week’s Market Buzz

Mayor Resigns; Hi-Crush Gets Award; Minnesota Grapples with Regulation

  • The mayor of Red Wing, Minn., said he will resign amid public pressure over his second job as a frack sand lobbyist. The Star Tribune reported that Mayor Dennis Egan said he could have legally continued on as mayor while he worked as the executive director of the Minnesota Industrial Sand Council. But he says he'll resign April 1 because his second job had become a distraction.

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This Week’s Market Buzz

  • In 2011, 33 shale wells were drilled in Ohio. In comparison, more than 500 permits were approved last year to drill horizontal wells in Ohio's Marcellus and Utica shale formations, according to the state's Department of Natural Resources. And by 2015, the Ohio Oil and Gas Energy Education Program expects that about 4,000 new shale wells will be drilled in eastern Ohio. A report from Cleveland State University, Ohio State University and Marietta College, meanwhile, predicts that increased shale well activity will create close to 66,000 new jobs in the state's oil and gas sector and grow its economy by nearly $5 billion.

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This Week’s Market Buzz

  • According to the LaCrosse Tribune, an outgoing zoning inspector said that Buffalo County, Wis.’s $10,000 fee for a frac sand mining permit is excessive, and the process for acting on permit applications needs to be streamlined. Jake Sedivy, the Buffalo County zoning technician who recently resigned for another position, addressed the board and said the permit fee is substantially higher than those charged in other counties.

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This Week’s Market Buzz

  • A Wabasha, Minn., citizens group is appealing a conditional use permit for a frac-sand-loading facility, according to KAAL TV. The “Friends of Wabasha” filed the appeal with the City Planning Commission. The group opposes the granting of the permit to Superior Sand Systems last month. The permit allows Superior Sands to build a loading facility for transferring silica sand from trucks onto trains for transport to North Dakota and Texas for use in the oil and gas extraction process called hydraulic fracturing.

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