Once Booming, Sand Mines Shuttered

According to an article in the Winona Post, frac sand mining has proven to be a boom and bust industry in Trempealeau County, Minn. From creating scores of jobs and bringing in millions in revenues to idling plants – local frac sand companies’ fortunes have fluctuated with oil prices and competition. Since the pandemic crushed global demand for oil, the…

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This Week’s Market Buzz

• Oil touched its strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook. Markets broadly rallied after AstraZeneca Plc became the latest company to report a vaccine that protects most people from coronavirus. West Texas Intermediate for January delivery rose 1.5% to $43.04 a barrel; Brent…

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Source Energy Services Sees Increase in Sand Volumes

Source Energy Services reported results for the third quarter of 2020 that reflect a rebound in activity levels in the WCSB, favorably impacting sand sales volumes which increased by 11% compared to the third quarter of 2019. While higher volumes were achieved, sand revenue and total sales revenue were lower by $2.4 million and $1.3 million, respectively, for the third…

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Frac Sand Blues

RR071020 CDE

July 10, 2020 – It’s not a good time to be a frac sand producer. With oil prices still hovering around $40 per barrel, and no COVID-19 end in sight, frac sand producers are falling like dominoes. Recent developments include bankruptcies from major producers Covia, Hi-Crush and Vista Proppants and Logistics. While these companies are not going away – they are restructuring debt and trying to find…

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