• Oil prices rose on February 23 after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. Benchmark Brent crude oil was up $1.05 a barrel, or 1.9 percent, at $56.89, recovering from a drop of 82 cents. U.S. light crude rose $1, or 1.9 percent…
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This Week’s Market Buzz
• Oil prices turned positive again after government data showed a surprise drop in gasoline in storage that offset a huge rise in U.S. crude stockpiles. International Brent crude futures were trading at $55.54 per barrel up 49 cents, or 0.9 percent, from their previous close. U.S. West Texas Intermediate crude was at $52.55 a barrel, up 38 cents, or…
Read MoreNorth America Frac Sand to Study Leases
North America Frac Sand Inc.’s David Alexander, CEO, confirmed that, as disclosed in previous news releases and filings in quarterly reports on Form 10Q and Form 8K, the company has engaged Norwest Corp. to complete a NI-43-101 report.
Read MoreFrac Sand Projects Proposed in Wisconsin
According to a report on WIZM news, Lacrosse, Wis., wetlands are at the core of the debate over a couple of proposed frac sand mining facilities in Jackson and Monroe counties. Meteor Timber has two frac-sand mining projects in that area and says they’re valued at $65 million and would create 100 jobs.
Read MoreFairmount Santrol Third-Quarter Report Offers Promise
Fairmount Santrol announced results for the third quarter of 2016. Third-quarter revenues were $134.8 million, up 18 percent from $114.2 million in the second quarter of 2016 and down 21 percent from $171.0 million for the third quarter of 2015. Overall volumes sold were 2.4 million tons for the quarter, an increase of 24 percent from 2.0 million tons in…
Read MoreOmniTRAX Acquires Assets of Terracor Group
OmniTRAX Inc. has agreed to acquire all assets of Terracor Group, a frac sand logistics company, including three transload facilities with vertical silo storage in Texas and Montana. Included in the transaction is a high-quality frac sand mining opportunity located in Wisconsin.
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Hi-Crush Partners reported third quarter 2016 results. Revenues for the quarter ended Sept. 30, 2016, totaled $46.6 million on sales of 1,082,974 tons of frac sand. This compares to revenues in the second quarter of 2016 of $38.4 million on sales of 849,263 tons of frac sand. Athabasca Minerals is continuing permitting for the Firebag Frac Sand Project. Under the…
Read MoreMinnesota County Bans Frac Sand Mining
According to the Winona Post, Winona County, Minn., board members Marie Kovecsi, Greg Olson and Jim Pomeroy voted 3-2 vote to move forward with banning the frac sand industry in rural Winona County. A final vote on the ban will not be held until the board’s November 22 meeting and the board could still change course.
Read MoreHi-Crush Has Successful Test of Integrated Delivery Solution
Hi-Crush Partners LP announced the successful pilot test of its PropStream integrated delivery solution, which is designed to structurally enhance the efficiency of sand delivery in the well completion process.
Read MoreFairmont Santrol Encouraged by Demand
Fairmount Santrol announced preliminary financial results for the third quarter ended Sept. 30, 2016. The unaudited preliminary financial results for the third quarter of 2016 represent the most current information available to management.
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