This Week’s Market Buzz

• Oil prices turned positive again after government data showed a surprise drop in gasoline in storage that offset a huge rise in U.S. crude stockpiles. International Brent crude futures were trading at $55.54 per barrel up 49 cents, or 0.9 percent, from their previous close. U.S. West Texas Intermediate crude was at $52.55 a barrel, up 38 cents, or 0.7 percent. U.S. commercial crude inventories rose by 13.8 million barrels in the week through Feb. 3 to 508.6 million. That compared with analysts' expectations for a 2.5 million barrels increase.

Read more: This Week’s Market Buzz

Smart Sand Set to Increase Production at Oakdale

Smart Sand Inc. announced that based on its assessment of increased demand for its products, particularly fine mesh sand, the company has decided to increase the wet and dry plant processing capacity at its Oakdale facility in order to produce up to approximately 4.4 million tons of raw frac sand per year.

Read more: Smart Sand Set to Increase Production at Oakdale

North America Frac Sand to Study Leases

North America Frac Sand Inc.’s David Alexander, CEO, confirmed that, as disclosed in previous news releases and filings in quarterly reports on Form 10Q and Form 8K, the company has engaged Norwest Corp. to complete a NI-43-101 report.

Read more: North America Frac Sand to Study Leases

Dakota Plains Holdings Files Chapter 11

Dakota Plains Holdings Inc. and its wholly-owned subsidiaries, Dakota Plains Transloading LLC, Dakota Plains Sand LLC, Dakota Plains Marketing LLC, DPTS Marketing LLC, DPTS Sand LLC and Dakota Petroleum Transport Solutions LLC (together with the company, the debtors), filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Minnesota.

Read more: Dakota Plains Holdings Files Chapter 11

Frac Sand Plant Opposed Near Texas Historical Site

There is opposition to a proposed frac sand processing plant in parts of Atascosa and Bexar counties, Texas. On Jan. 28, approximately 100 people gathered on Old Applewhite Road for two hours to share their concerns about the mine, according to the Pleasanton Express, one of which is that the site for the proposed plant is a historic one.

Read more: Frac Sand Plant Opposed Near Texas Historical Site