By February 17, 2017 0 Comments Read More →

As U.S. shale oil activity surges, sand could be in short supply

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Demand for frac sand has surged in recent weeks as U.S. producers rush back to the oil patch, stoking concern that supplies of the key component of drilling may not be able to keep up with demand later this year, industry professionals said.

 The growing appetite for frac sand comes as oil producers have added hundreds of rigs in U.S. oil fields from Texas to North Dakota. Last week, the U.S. rig count hit 591, the highest since October 2015 and nearly double the figure seen seven months ago.

Raymond James predicts the number of rigs could approach 1,000 by the end of 2018…

 

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