Gulf Coast Sand (GCS), a privately-owned and independent producer and supplier for specialized sands, blended sands, abrasives, and gravel, announced the acquisition of assets originating from Shale Support LLC.
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This Week’s Market Buzz
• Oil prices will hold steady for the rest of the year with marginal declines in 2023, analysts estimated, with the exception of one who foresees “more bullish than bearish factors” for the market going forward. Analysts who spoke to CNBC said they expect current oil prices to hold throughout the second half of 2022, though the impact of a…
Read MoreSmart Sand Trumpets Successful Second Quarter
Smart Sand Inc. announced results for the second quarter 2022. Revenues were $68.7 million in the second quarter of 2022, compared to $41.6 million in the first quarter of 2022 and $29.6 million in the second quarter of 2021. Revenues increased in the second quarter, compared to both the first quarter of 2022 and the second quarter of 2021, due…
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• Brent crude futures climbed 20 cents, or 0.2%, to $104.03 a barrel at press time, while U.S. West Texas Intermediate crude (WTI) fell 64 cents, or 0.6%, to $95.70 a barrel.
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At press time, West Texas Intermediate crude for August delivery rose $1.35, or 1.3% to $105.62 a barrel. Brent crude rose $1.30, or 1.1%, to $111.35 a barrel.
Read MoreSelect Sand First Quarter Tonnage Up 79% Over Last Year
Select Sands Corp announced operational and financial results for the first quarter of 2022. The company sold 107,428 tons of frac and industrial sand during the first quarter of 2022, which was 13% higher than 94,670 tons sold in the fourth quarter of 2021 and 79% higher than 59,970 tons sold for the first quarter of 2021. Driving the consistent…
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• At press time, West Texas Intermediate crude futures were trading above $122 per barrel, while Brent Crude was trading above $123 per barrel.
Read MorePermian Delaware Output to Hit Record in 2022
Total hydrocarbon production in the Permian Delaware Basin, the top-producing play in the Permian, will hit a record 5.7 million barrels of oil equivalent per day (boepd) average in 2022, according to Rystad Energy research. Spurred on by high oil prices and appealing well economics, total production is set to grow by around 990,000 boepd, almost half of which –…
Read MoreShort Sand Supplies Will Slow Growth of U.S. Oil Output
Shale oil producers in the United States and Canada are likely to stick to their slow growth plans this year because they lack the sand, steel, drilling rigs and pressure-pumping capacity required to grow faster, according to the Journal of Petroleum Technology.
Read MoreReading & Northern Receives First Frac Sand Unit Train
Reading & Northern (R&N) took delivery of its first unit train of frac sand on Sunday, May 5. Norfolk Southern Railroad delivered the train to R&N’s North Reading Yard where crews were on hand to receive the train and immediately take it to R&N’s sand storage facility in Pittston, Pa.
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