Halliburton executives recently discussed market conditions, the COVID-19 pandemic and Russia/Ukraine conflict. They said oil and natural gas prices continue to be impacted by the efforts to contain COVID-19, the pace of economic recovery, and changes to OPEC+ production levels.
Read MoreCategory: Frac Sand
U.S. Silica Reports Double-Digit Growth
U.S. Silica Holdings Inc. announced net income of $22.9 million, or $0.29 per diluted share, for the second quarter ended June 30. These results compared with a net loss of $8.4 million, or $0.11 per diluted share, for the first quarter of 2022.
Read MoreFrac Sand Operation Proposed in Utah
A quarry with frac sand capabilities has been proposed on public land in Utah’s Uinta Basin just outside Dinosaur National Monument, according to the Salt Lake Tribune. For years, the basin’s drillers have imported sand from Wisconsin.
Read MoreSource Sand Revenue Explodes
Source Energy Services said it generated $93.5 million of sand revenue during the second quarter, an increase of 61% over the same period in 2021 and an increase of 16% over the first quarter of 2022.
Read MoreThis Week’s Market Buzz
• The hydraulic fracturing market through 2023 is expected to be tight. Horsepower and water demand are both projected to rise next year, and sand will likely continue to be an issue, according to Luke Smith, U.S. onshore analyst at Westwood Global Energy Group.
Read MoreESG on the Oil and Gas Side
Oil and gas companies in the United States are striving to find a balance between ongoing environmental, social and governance (ESG) initiatives and a desire to ramp up production as the world battles a sweeping energy crisis. All the while a larger conversation concerning so-called “greenwashing” – the practice of misleading investors into thinking environmentally unfriendly practices are, in fact,…
Read MoreHalliburton Sees Spike in Total Revenue
Halliburton Co. announced net income of $109 million, or $0.12 per diluted share, for the second quarter of 2022. This compares to net income for the first quarter of 2022 of $263 million, or $0.29 per diluted share. Adjusted net income for the second quarter of 2022, excluding impairments and other charges, was $442 million, or $0.49 per diluted share.…
Read MoreRail Traffic Rises, Including Nonmetallic Minerals
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ending July 16, 2022. For the week, total U.S. weekly rail traffic was 498,899 carloads and intermodal units, down 2.8% compared with the same week last year.
Read MoreCommentary: Proppants: Are You Getting What You Pay For?
Q: What do oil companies and sand mines have in common?
Read MoreThis Week’s Market Buzz
• Brent crude futures climbed 20 cents, or 0.2%, to $104.03 a barrel at press time, while U.S. West Texas Intermediate crude (WTI) fell 64 cents, or 0.6%, to $95.70 a barrel.
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