• A recent note released by Credit Suisse outlines the current development in frac sand supply and demand. Total U.S. demand for frac sand was highest in 2014, when the country consumed 56 million tons. Demand fell off during the downturn, and in 2015 and 2016 the U.S. consumed 48 and 34 million tons of sand, respectively. Increased activity has meant demand for sand is likely to break records in 2017, with 73 million tons of demand projected. More and more wells are being completed, according to the EIA. In 2016, an average of 590 wells were completed each month. In 2017, completions have been growing steadily, and 872 wells were completed in June.
• Officials of Hi Crush told investors they expect “significant shortages of trucking resources,” making location of Permian Basin mines paramount. The Hi Crush mine near Kermit, Texas, will require 120,000 truckloads per year at capacity.
• Claim Post Resources Inc. announced the appointment of two new directors, Tom MacInnis and Todd Garman, and the election of Lowell Jackson as executive chairman. MacInnis is a seasoned energy-focused financial executive. Garman is an oilfield services and financial executive with almost 25 years experience. Jackson has been a Claim Post board member since 2013. He brings more than 40 years of technical, operational and executive experience in the oil and natural gas industry.