According to Wisconsin Public Radio, a Wisconsin appeals court has upheld a Trempealeau County, Wis., decision denying a permit to open a new sand mine. The 3rd District Court of Appeals ruled against Iowa-based AllEnergy Sand. It had argued that a Trempealeau County environmental and land use committee in 2013 wrongly denied its permit to open the 550-acre sand mine…
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This Week’s Market Buzz
Canadian National Railway (CN) reported a higher than expected net profit in the first quarter but said lower commodity shipments weighed on revenue and have prompted a downward revision to the company’s 2016 financial outlook. Its frac sand business was down 45 percent and coal was cut in half, accounting for 3.1 percent of total business, the lowest of any…
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A company that was working to start a frac sand mine in the towns of Alma and Adams, Wis., filed for bankruptcy, according to the Jackson County Chronicle. Terracor Resources filed for Chapter 15 bankruptcy in a federal court in Texas April 4. Terracor has been working to launch a frac sand processing facility and related rail spur – an…
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Light, sweet crude for May delivery is currently trending at $37.26 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, is at $39.43 a barrel on ICE Futures Europe.
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Light, sweet crude for May delivery settled down 7 cents, or 0.2 percent, at $41.45 a barrel on the New York Mercantile Exchange. The May contract is the new front-month contract, and the settlement price is the highest front-month closing price since Dec. 1, 2015. Brent, the global benchmark, rose 25 cents, or 0.6 percent, to $41.79 a barrel on…
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Oil prices rose after a top energy monitor said that prices might have bottomed on hopes that falling supply would help alleviate the global glut of crude. The International Energy Agency said that prices have been supported by easing supply around the globe but cautioned that the recent rally might not be sustainable as the demand outlook remains uncertain. Crude…
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Oil prices could move back above $50 a barrel within a year as an OPEC initiative to freeze production gains support, according to CNNMoney. That’s the view of Qatar’s energy minister, Mohammed bin Saleh al-Sada, who also holds the rotating presidency of OPEC. “At the moment the best possible feasible proposal is to freeze at the level of production of…
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North America Frac Sand Inc. announced the appointment of Green Engineering Ltd. to complete a NI 43-101 report on North America Frac Sand (CA) Ltd.’s 30,000 acres of mineral leases located 30 kilometers west of Saskatoon, Saskatchewan, Canada. The company earlier announced a Share Purchase Agreement with Canadian Sandtech Inc. and is expected to conclude the acquisition of North America…
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According to Oil Pro, oil prices rose toward $34/bbl, amid growing chatter about the possibility of OPEC and non-OPEC producers meeting to discuss cutting production levels to support prices. Brent hit $35/bbl after the Russian Energy Minister said Saudi Arabia had proposed cutting oil output by up to 5 percent by each country in order to bolster oil prices. Brent…
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According to the Jackson County Chronicle, a group of landowners has launched an effort to halt frac sand mining in Jackson County, Wis. A petition filed in Jackson County Circuit Court said county officials haven’t followed proper procedures for appealing zoning decisions and should re-consider a legal challenge made against a rail spur for sand transportation in the town of…
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