Preferred Proppants LLC, whose fracture sand operations are becoming concentrated in the Permian Basin and Eagle Ford Shale in Texas, has sold its Bloomer facility in Wisconsin to Frontier Sand LLC. Financial details were not disclosed. The sale, along with a previously announced transaction for the Blair, WI, facility, “is part of our strategy that was put in place during the previous market downturn to be the regional and in-basin leader within the space,” said CEO Michael O’Neill. Preferred plans to build three Texas in-basin plants in the Permian and Eagle Ford to complement an existing portfolio of sand-related assets in Genoa, NE, and Sanders, AZ. To pursue the “localized” strategy, Preferred has switched to more trucking and reduced its train car fleet by almost 20% since the end of September.
Dakota
Articles from Dakota
Bakken Learning Curve Said Driving Well Productivity Gains
Drilling productivity in the Bakken Shale, which is producing more than 1 million b/d of light sweet crude oil, is a byproduct of geology and the fact that North Dakota operators are further along the learning curve than in other U.S. onshore plays, according to the state’s top oil and gas regulator.
Energy Stimulus Bill Draws Supporters, Critics in House Hearing
A House bill to remove duplicative regulations about how federal lands are developed, including for oil and gas development, drew broad support Tuesday from a state regulator, academia and industry and consumers groups.
Helms Predicts 10% Growth in Bakken in 2018; Steady Activity in 2019-20
North Dakota’s Bakken Shale will experience 10% growth in oil and natural gas activity next year, with steady but more moderate growth in the two subsequent years, according to Lynn Helms, director of the state’s Department of Mineral Resources.
Linn Further Pares Portfolio, Selling Williston Properties for $285M
Houston-based Linn Energy said Monday it has signed a definitive agreement to sell its interest in properties in the Williston Basin for $285 million to an undisclosed buyer.
Briefs — BLM Quarterly Auctions
The U.S. Bureau of Land Management (BLM) said seven state offices collectively generated $170.7 million in bonus bids from oil and natural gas lease sales during 3Q2017. The sales covered 218 parcels consisting of more than 134,800 acres. New Mexico had the largest sale with more than $130 million, while Wyoming garnered $38.7 million. Other states generated under $1 million each. The 20 of 29 scheduled onshore lease sales in 2017 have brought in $316.2 million in bonus bids, versus 20 in 2016 that produced $192.5 million. BLM officials said oil and gas development on federally managed lands in the last fiscal year supported 201,000 jobs and $42 billion in economic output.
North Dakota’s Bakken Production, Prices Inch Upward in July
North Dakota’s Bakken Shale oil and natural gas production edged up slightly in July, despite price-related pressures that have kept operators treading water, Department of Mineral Resources (DMR) officials said Friday.
Army Corps Needs Remainder of 2017 to Finish Court-Ordered Reviews of DAPL
The Army Corps of Engineers told the U.S. District Court for the District of Columbia that it will need the rest of the year to complete reviews of the “discreet” issues noted in a judge’s ruling over pending legal challenges to the Dakota Access Pipeline (DAPL).
Bakken ‘Steady As She Goes’ in North Dakota; DAPL Fails to Reduce WTI Differential
Production in North Dakota’s Bakken Shale remained unchanged in May from April, but that doesn’t mean the prolific sweet crude oil and natural gas area has peaked, the state’s chief oil and gas regulator said last week.
Shadow of DAPL Hanging Over Bakken Oil Prices, Flows
Anemic crude oil prices are sticking around even as operations ramp up on the Dakota Access Pipeline (DAPL) to carry Bakken Shale supplies out of North Dakota, but the state’s chief oil and natural gas regulator doesn’t expect that to continue in the longer term.
