This Week’s Market Buzz

  • According to a report from the Associated Press, some energy producers are still willing to pay more for Wisconsin’s high-quality frac sand despite increasing competition from Texas producers. Many energy companies still value Wisconsin sand because of its strength, plus companies can drill deeper and keep oil wells producing longer. Some companies are also mixing Wisconsin sand with less-expensive Texas sand.

  • Canadian National (CN) saw its net income spike 156 percent for the quarter to $2.61 billion Canadian (U.S. $2.11 billion) compared with the same 2016 period, boosting full-year 2017 earnings 51 percent to C$5.48 billion. The company attributed the increase in revenues primarily to higher international container traffic via the ports of Prince Rupert and Vancouver, as well as increased volumes of frac sand, freight rate increases and higher applicable fuel surcharge rates.
  • The state of Wisconsin will hold a hearing next month to review whether a Georgia timber company should be allowed to fill wetlands for a frac sand processing site in Monroe County, Wis. Clean Wisconsin last year challenged the Department of Natural Resources’ decision to issue Meteor Timber a permit to fill 16.25 acres of wetlands for the proposed $65 million processing and loading facility near Millston, Wis. A contested case hearing, a process similar to a court trial, has been scheduled for Feb. 26 through March 2 in Tomah, Wis., according to the Lacrosse Tribune.

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