Permian frac sand prices continue to hold steady this week, with FOB Kermit 100m and 40/70m prices rising by $0.10 and $0.15 per ton each this week. FOB Odessa Northern White sand prices remained flat again this week, suggesting continued limited demand for Northern White products in the Permian.
Permian frac sand prices continue to hold steady this week, with FOB Kermit 100m and 40/70m prices rising by $0.15 and $1.00 per ton each this week. The market for FOB Kermit 40/70m has tightened this week, with a slightly greater pickup in demand than expected relative to current production levels. This is evidenced by the widened 100m-40/70m spread at Kermit. FOB Odessa Northern White sand prices remained flat again this week, suggesting continued limited demand for Northern White products in the Permian.
Permian frac sand prices continue to hold steady on thin volume this week, with FOB Kermit 100m and 40/70m prices up by $0.25 per ton each this week. FOB Odessa Northern White sand prices remained flat this week.
Permian frac sand prices have bounced off of the lows, as FOB Kermit 100m and 40/70m prices rose by 40 cents and 50 cents per ton respectively over the last week.
In the Permian, despite hearing frac sand supplier chatter regarding a pickup in prices and activity later in June and/or into July, Permian frac sand prices have furthered their decline. FOB Kermit 100m and 40/70m prices fell by 7% over the last week, given the news that despite oil prices rising to nearly $40 per barrel, the industry has not yet seen any significant response in frac spread count, which currently sits at 58 frac crews for the week ending June 5, 2020. The Baker Hughes US onshore rig count has fallen to a record low for a 5th straight week, currently sitting at 284 active rigs. It is the lowest ever, according to data going back to 1940. The rig count currently sits 71% below the count this time last year.