This Week’s Market Buzz

• A Reuters poll of analysts in late December showed a broad expectation that Brent Crude will average “a smidge above $50/bbl this year,” PVM Oil Associates said. U.S. benchmark West Texas Intermediate crude futures broke above $50/bbl this week for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel-per-day production…

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This Week’s Market Buzz

According to madison.com, 30 workers at U.S. Silica’s Sparta, Wis., plant will be laid off July 15, when the plant cuts back production because of the trickle-down effect of the lagging oil market, a company spokesman said. “We will operate the plant with a smaller workforce because we’ve seen a significant decrease in oil drilling, which has reduced demand for…

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Victory Silica Reports Fourth Quarter Results

Victory Nickel Inc. detailed new developments for its 100-percent-owned subsidiary, Victory Silica Ltd. Fourth quarter frac sand production was 47,515 tons, an increase of 21 percent over third quarter 2014 production, though still short of the potential of the company’s Seven Persons facility (7P) near Medicine Hat, Alberta, Canada, estimated at 114,384 tons for the quarter.

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Processing Begins at Victory Nickel’s Seven Persons Plant

Victory Nickel Inc. announced that the first nine-railcar shipment of washed, concentrated sand from Winona, Minn., has arrived, been unloaded and moved to the company’s Seven Persons (7P) frac sand plant near Medicine Hat, Alberta, Canada, for initial plant commissioning.

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