The Frac Sand Industry Update was held at the Petroleum Club of Houston on January 29, 2020. The event is organized by The Petroleum Connection. It is designed to address questions regarding the latest frac sand industry forecasts, trends, advances in research, and developments in regulation.
Some of the things that caught my ear at the meeting were things like the following items:
- Looks like oil prices will remain at $60 or less for the foreseeable future
- Flaring is a waste but necessary because of the lack of coordination between government and business
- The oil industry has hurt its reputation by not being more cognizant of the environment.
- America is energy independent and tensions in the Middle East will not cause a spike in oil prices
- The oil industry has gone through many bankruptcies and there are lots more to come
- The industry most become more cost effective through cross training and multitasking, and unfortunately, downsizing
What makes this conference important to me is the fact that the drop in oil prices from their $100 highs, has caused a disruption in the industry. Many companies in places like Wisconsin, where the best frac sand is found, have gone out of business. Why truck the best sand from Wisconsin all the way to the Permian Basin when the price of oil just does not support it?
Here is a snapshot of the presentations.
- The Future of Frac Sand – Finding a Footing
- Outlook for North American Onshore
- What to Look for in U.S. Oil and Gas in 2020
- Frac Sand Supply & Demand Forecast
The Frac Sand Industry Update comes around every year. Checkout their website:
http://www.petroleumconnection.com/event/5th-annual-frac-sand-industry-update/
In the mean time, view more pictures of the event down below.
