Domestic crude oil production increased 1.0 million bbl/d – rising more than the combined increases in the rest of the world – to reach its highest level in 24 years. This increase marked the largest observed annual increase in U.S. history.
Emerge Energy Services LP Announces Sand Supply Agreement with Chesapeake Energy Corporation
Fort Worth, Texas – January 7, 2019 – Emerge Energy Services LP today announced that its subsidiary Superior Silica Sands LLC (“Superior”) has signed a new agreement with Chesapeake Energy Corporation (“Chesapeake”) covering frac sand supplied from Superior’s San Antonio mine in South Texas. Chesapeake will procure frac sand from Superior’s leading in-basin mine to support its growing completions program in South Texas.
“We are very pleased to partner with one of the leading onshore Exploration and Production companies in the U.S.,” noted Rick Shearer, Chief Executive Officer of the general partner of Emerge Energy. “Chesapeake is committed long-term to growing its position in the Eagle Ford basin, and as a leading producer of frac sand in South Texas, we are the perfect fit to supply Chesapeake with a large portion of its frac sand needs. Chesapeake has always been at the forefront of unconventional horizontal drilling, and we look forward to building our relationship with this new customer.”
“Also, our San Antonio plant is ramping up to full capacity as our new wet plant began production in December. We are excited about the opportunity ahead of us for our San Antonio plant and our other in-basin and northern white operations in 2019.”
About Emerge Energy Services LP
Emerge Energy Services LP (NYSE: EMES) is a growth-oriented limited partnership engaged in the business of mining, producing, and distributing silica sand, a key input for the hydraulic fracturing of oil and natural gas wells, through its subsidiary Superior Silica Sands LLC.
About Chesapeake Energy Corporation
Headquartered in Oklahoma City, Chesapeake Energy Corporation’s (NYSE: CHK) operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States. The company also owns an oil and natural gas marketing business.
This release contains certain statements that are “forward-looking statements.” These statements can be identified by the use of forward-looking terminology including “may,” “believe,” “will,” “expect,” “anticipate,” or “estimate.” These forward-looking statements involve risks and uncertainties, and there can be no assurance that actual results will not differ materially from those expected by management of Emerge Energy Services LP. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Emerge Energy’s Annual Report on Form 10-K filed with the SEC. The risk factors and other factors noted in the Annual Report could cause actual results to differ materially from those contained in any forward-looking statement. Except as required by law, Emerge Energy Services LP does not undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur after the date hereof.