Infill Thinking Lifting the O&G knowledge curve
Last week, first Schlumberger and then Halliburton issued US onshore profit warnings for their completions businesses. Halliburton explicitly cited the frac sand supply crunch caused by railroad downtime as the primary culprit.
Since then, we’ve had a chance to catch up with multiple private participants in this market to try and validate the public commentary and gain more clarity on the situation.
Bottom line: this severe supply crunch seems to be as bad or worse than advertised even as demand is growing – the perfect sandstorm. The one thing there is not a shortage of in the sand markets right now is pain and frustration among the end users. Here are some of the things we’ve learned from our conversations with buyers, sellers, and logistics guys.
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