This Week’s Market Buzz

  • At press time, Brent crude was $83.33 a barrel. It earlier hit a high of $84.23 a barrel and a low of $82.72 a barrel. West Texas Intermediate rose to $80.58 a barrel, after ranging between $81.62 and $79.47.
  • Calima Energy Ltd. has begun fracture stimulation for three wells at its Throsby asset in Alberta, Canada, as part of its Leo development program and coinciding with a period of strong Brent prices. The Canadian oil and gas producer and explorer has recently developed its Leo Sparky Wells contingent of the Throsby development field, ready for this next stage of fracture stimulation with initial production expected in November 2021.
  • U.S. Silica is exploring separating the company’s non-oil & gas division into a separate company and selling it. U.S. Silica would like to focus entirely on the oil and gas sector and let someone else focus on other sectors that also use sand, like renewable energy, food and beverage, chemical additives, paints and coatings, building products, etc.

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