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  • Proppant players cut workforces

    A rapidly declining market for proppant in major US basins has led some suppliers to reduce staff in recent weeks. Most recently, Canadian outfit Select Sands said this week it had furloughed more than two dozen workers at its Sandtown facility in Arkansas. The Vancouver-based company said 26 employees were affected by the temporary measure "until further notice". Meanwhile, local media reports

    Weekly  upstreamonline.com 13 hours old Caroline Evans

    Bakken production expected to keep climbing

    Production from prolific US shale play reaches new record high in month of August, with further increases expected in the remainder of the year

    Weekly  upstreamonline.com 13 hours old Caroline Evans

    Nine Energy Service in deal to buy Magnum

    US oilfield services provider Nine Energy Service has agreed an acquisition worth nearly $500 million less than a year after it went public. The company is buying Magnum Oil Tools International for $334 million in cash and 5 million shares of Nine common stock valued at $159 million. The deal also allows for potential future contingent payments to Magnum. Nine intends to fund the deal with the

    Weekly  upstreamonline.com 13 hours old Caroline Evans

    Aspen plans Texas pipeline

    Private US player Aspen Midstream is planning to build a new pipeline system to service the growing Austin Chalk play of east Texas. The Encap Flatrock Midstream-backed company aims to develop a large-diameter residue pipeline as well as a lean and a rich gas gathering system in the Giddings field in Texas. The system is supported by about 150,000 acres offering long-term dedicated supply from mu

    Weekly  upstreamonline.com 13 hours old Caroline Evans

    Fracking is still fraught

    Cuadrilla Resources this week ended the hiatus in hydraulic fracturing in the UK that has been in place since 2011, when use of the technique was halted following earth tremors that were linked to the company’s earlier operations, writes Mark Hillier. It would be wrong to ignore the progress that the resumption of fracking in England means for Cuadrilla and other proponents of the technique in th

    Weekly  upstreamonline.com 13 hours old Mark Hillier

    McDermott to build storage tanks

    US contractor McDermott has been awarded a contract worth up to $50 million to build storage tanks in Texas that will receive oil from the Permian basin. McDermott said its CB&I Storage Tanks division has landed the engineering, procurement and construction deal from an unidentified client for three external floating-roof tanks to be situated in Taft, Texas. McDermott said the contract value is

    Weekly  upstreamonline.com 13 hours old Eoin O'Cinneide

    Protests as Cuadrilla begins UK fracking

    Shale explorer Cuadrilla Resources has restarted fracking operations in the UK for the first time since 2011 in the same week that three campaigners jailed for protesting against its operations were freed on appeal after a judge ruled an initial sentence imposed on them was excessive, writes Anamaria Deduleasa. Simon Roscoe Blevins, Richard Roberts, and Richard Loizou were convicted of causing a

    Weekly  upstreamonline.com 13 hours old Anamaria Deduleasa

    Riley calls off $100 million IPO - after less than a week

    US oil company Riley Exploration-Permian has called off a $100 million initial public offering less than a week after announcing its plans to go to the market. The Oklahoma City-based private company said this week the attempt at a flotation is being delayed "as a result of unfavourable equity market conditions”. The company, which is focused on the prolific US shale patch of the Permian basin,

    Weekly  upstreamonline.com 13 hours old Caroline Evans

    Permian DUCs are on the rise

    The number of drilled but uncompleted wells in the prolific Permian basin in the US has almost doubled over the past year, as producers defer completions to cope with low regional prices driven by limited takeaway capacity, writes Julia Martinez. From July to August, the Permian added 211 DUCs to bring the total to 3630, according to data from the Energy Information Administration. That figure ha

    Weekly  upstreamonline.com 13 hours old Julia Martinez

    Earthstone to continue building Midland footprint

    US independent recently acquired Sabalo Energy in $950 million Midland deal

    Online  upstreamonline.com 17 hours old Julia Martinez