• At press time, Brent futures were down 86 cents, or 0.8%, at $107.92 a barrel, while U.S. West Texas Intermediate futures were off $1.10 or 1.1%, at $103.15 a barrel.
Read MoreTag: Victory Nickel Inc
Victory Nickel Exploration Plan Stymied
Victory Nickel Inc. announced that its subsidiary Victory Silica Ltd.’s initial application to have the Short Grass Ranches Ltd. property under an exploration and option agreement has not been approved.
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• 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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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…
Read MoreVictory 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.
Read MoreProcessing 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.
Read MoreCanadian Frac Sand Plant to Move Forward
Victory Nickel Inc. has received the required approval from the Alberta Energy Regulator to develop the 400,000 tpy Seven Persons frac sand processing facility just southwest of Medicine Hat, Alberta.
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