• “The current economic system cannot sustain oil prices above $100 a barrel, and engage in genuine growth in the real economy for very long,” warned a report authored by Dr. Simon Michaux and published by the Geological Survey of Finland. “Alternatively, producers cannot sustain oil prices as low as $45 a barrel and still make a profit.”
• Frac Shack Inc. acquired all the operating assets of the Sandtinel group of companies for an undisclosed amount, the global energy technology company said in a Jan. 23 release. Established in 2014 and based in Grande Prairie, Alberta, Canada, Sandtinel provides sand separation technology in Western Canada and the United States. The company’s technology is being deployed to more than 40 companies across North America, including top shale producers such as Pioneer Natural Resources Co., Devon Energy Inc. and XTO Energy Inc., according to the Sandtinel website.
• Canadian National reported that revenues for 2019 increased by 4% to CAD$14,917 million, when compared to 2018. The increase in revenues was mainly attributable to freight rate increases, the inclusion of TransX in the intermodal commodity group within the domestic market, the positive translation impact of a weaker Canadian dollar and higher volumes of petroleum crude, natural gas liquids and refined petroleum products in the first nine months. These factors were partly offset by lower volumes of a broad range of forest products, reduced U.S. thermal coal exports via the Gulf Coast and lower shipments of frac sand