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Frac Sand Providers Rush to Add Capacity as Demand Jumps
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Frac sand providers reported a massive increase in sand/proppant sales during 1Q22, and many of them are forecasting that the market will remain strong into 2023.
As a result, they are moving to bolster their sand and proppant supply in response to the skyrocketing demand from E&P companies, particularly in the Permian Basin. The service sector has been stretched thin in recent months as operators rush to secure contracts for frac fleets and sand/proppant, pushing service costs higher.
Lium Data recently released a report estimating that total U.S. frac sand demand is expected to increase by 31% in 2022 compared to 2021 and reach 117 million tons (57% of which goes to the Permian).
See Also: Private Equity Ready to Add Frac Capacity in Sold Out Market
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