This Week’s Market Buzz
Published: Wednesday, 13 July 2016 15:59
- Victory Nickel Inc. announced that it has sold its interest in a partnership created to trade in commodities for Canadian $430,766 less fees and costs of approximately $73,000. “This sale will provide some working capital while the oil and gas price recovers and drilling and the related consumption of frac sand returns,” said Rene Galipeau, CEO. “As mentioned in our first quarter financial report, sales of frac sand are extremely slow. However, the company has approximately 35,000 tons of sand in inventory to be sold as the market recovers. Sale of this inventory should give us time to implement our operating plan to move forward and return to full production.”
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Sand Wars Escalate in Wisconsin
Published: Wednesday, 13 July 2016 15:53
A new draft report from the Wisconsin Department of Natural Resources (WDNR) suggests that frac sand mining does not produce fine sand that is a health hazard. The report states that air quality measurements made in the western part of Wisconsin, where the majority of sand mining facilities are placed, have not detected elevated levels of silica in the air.
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Smart Sand Plans $10 Million Rail-Loading Terminal
Published: Wednesday, 13 July 2016 15:48
Smart Sand Inc. plans to build a $10 million rail-loading terminal near Tomah, Wis., that would allow one of the state’s largest frac sand mines to ship its product to new markets, according to the La Crosse Tribune.
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Halliburton; Eclipse Complete Longest Lateral Well in the U.S.
Published: Wednesday, 13 July 2016 15:39
Halliburton announced that it worked with Eclipse Resources Corp. to complete hydraulic fracturing of the extended-reach lateral test well known as "Purple Hayes." The Utica Shale well had a lateral length of more than 18,500 ft. and was completed with 124 frac stages in 24 days. The total depth was 27,046 ft., including the lateral extension which Eclipse believes is the longest horizontal onshore lateral ever drilled in the United States.
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IMA-NA Supports Workforce Education Bill
Published: Wednesday, 13 July 2016 15:23
The House Committee on Education and Workforce unanimously passed H.R. 5587, the Strengthening Career and Technical Education for the 21st Century Act, out of Committee. The Act was supported by the Industrial Minerals Association - North America (IMA-NA).
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