The Energy Information Administration (EIA) reported a mammoth storage withdrawal Thursday that surprised to the bullish side of expectations, but prompt-month futures lost ground after rallying earlier in the week.
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Mammoth Secures Multi-Grade Sand Contract to Supply 720,000 Tons/Year For Three Years
As proppant loads increase and laterals get longer in the Lower 48, Mammoth Energy Services Inc. is growing its sand volumes, announcing Thursday it has secured a multi-year take-or-pay sand contract with a third-party service provider.
Mammoth’s Dealmaking Guarantees Frack Crews ‘Always Have Sand’
Oklahoma City-based Mammoth Energy Services Inc., which has seen a mad dash for sand since the start of the year, has snapped up three U.S. oilfield service suppliers, including a major sand operator, to ensure it can feed its fracture crews in Appalachia and Oklahoma’s stacked reservoirs.
Mammoth Energy Sputters in Nasdaq Debut
Oklahoma City-based Mammoth Energy Services Inc., one of two U.S. onshore operators to launch on Nasdaq last week, raised $116 million in its debut, despite dropping almost 12% in its first day of trading.
Mammoth Looking to Build North American OFS Operations Through IPO
Privately held Mammoth Energy Services Inc., whose top customer is Utica Shale-focused Gulfport Energy Corp., is preparing another attempt to go public and expand its North American pressure pumping business, according to a filing with the U.S. Securities and Exchange Commission.
DOJ Opens Civil, Criminal Investigations into Gulf Oil Spill
Attorney General Eric Holder Tuesday said the government has launched criminal and civil probes into the mammoth oil spill in the Gulf of Mexico. This comes as the latest procedure — “top kill” — to cap the damaged riser 5,000 feet below the surface failed, the spill enters its sixth week, and estimates of the spewing oil were raised to 12,000-19,000 b/d, making it the worst oil spill disaster in U.S. history.
Midcontinent Express Gets FERC Nod, Moves to Expand
Just days after FERC approved the mammoth pipeline project, backers of the Midcontinent Express Pipeline, which would give shale producers in Texas, Arkansas and Oklahoma access to southern and eastern markets, last Tuesday announced that they had completed a successful binding open season for a 300,000 Dth/d expansion of a portion of the planned system.
Midcontinent Express Files Application to Expand System
Midcontinent Express Pipeline (MEP) has filed an application at FERC for a 300,000 MMcf/d expansion of its mammoth pipeline project that would provide takeaway capacity for shale producers in Texas, Arkansas and Oklahoma.
Bulls Maintain Control Following 200 Bcf Storage Withdrawal
While it wasn’t the mammoth withdrawal of the previous week’s report, the Energy Information Administration (EIA) reported Thursday morning that a hefty 200 Bcf was removed from underground natural gas storage for the week ended Feb. 1. The number — which was larger than some expected — supported the recent bullish move in natural gas futures. The March contract reached a high of $8.110 before settling at $8.102, up 10.8 cents from Wednesday’s close.
Bentek CEO: Market Doesn’t ‘Fully Appreciate’ Scope of Changes to Come
With the mammoth 1,600-mile Rockies Express Pipeline (REX) making its way eastward, liquefied natural gas (LNG) terminals scheduled to come on line in the Gulf Coast region over the next two to three years and increasing amounts of gas flowing from Texas basins, there will be a number of significant changes to the market, many of which aren’t yet appreciated, said Bentek Energy LLC CEO Porter Bennett.