Page 12 - NorthAmOil Week 25 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

technology will strengthen our offering and storage. Once closed, this transaction brings new chapter in Alberta and Canada’s story.”
help us further penetrate the market. As the our companywide annual sand production The pilot project includes drilling Alberta’s
market continues to evolve and portions of it capacity to approximately 6mn tons, which first lithium evaluation wells, planned to be
demand MWD tools that require less direct is expected to increase to approximately 8mn completed by the end of the third quarter of
human interaction, we believe this team tons when we complete our West Munger this year. Work will also focus on scaling up
will help accelerate Cathedral’s plans to be a facility in the Permian, which is expected to E3 Lithium’s proprietary technology, which
leader in this space, further enabling drilling occur by the third quarter of 2022.” brings the brine liquid to the surface where
automation.” PROFRAC HOLDING, June 21, 2022 the lithium is removed and concentrated. This
CATHEDRAL ENERGY SERVICES, June 20, 2022 liquid is immediately returned underground
as part of a closed-loop system. E3 Lithium’s
ProFrac Holding to acquire MOVES PEA1 estimates the first phase of development
could produce approximately 20,000 tonnes of
US Well Services Imperial and E3 Lithium lithium hydroxide per year.
IMPERIAL OIL AND E3 LITHIUM, June 23, 2022
ProFrac Holding announced today that it form strategic agreement
has reached an agreement to acquire US
Well Services (USWS) in a stock-for-stock on lithium pilot project in ENERGY TRANSITION
transaction with an exchange ratio of 0.0561
shares of ProFrac Class A common stock for Alberta Phillips 66 publishes 2022
each share of USWS Class A common stock.
The acquisition is expected to be completed Imperial Oil and E3 Lithium announced sustainability report
in the fourth quarter of 2022, subject to the today a collaboration to advance a lithium-
satisfaction of customary closing conditions, extraction pilot in Alberta, exploring the Phillips 66 released its 2022 sustainability
including the approval of USWS stockholders. redevelopment of an historic oil field into a report on Thursday, giving a comprehensive
The combination creates a market leader potential new leading source of lithium for account of its efforts to be one of the safest
in NextGen frack solutions and a combined Canada’s growing critical minerals industry. and most reliable operators in the energy
company with an expected 44 active fleets by The pilot will support E3 Lithium’s industry and deliver on its commitment to
the end of 2022. Clearwater project, which will draw lithium advance a lower-carbon future.
PROFRAC HOLDING, June 21, 2022 from under the Leduc oil field, Imperial’s “We are experts in making and moving the
historic discovery that first launched major energy of today, and we are motivated by the
ProFrac Holding to acquire oil and gas development in Western Canada. opportunities we see all around us to optimise
E3 Lithium’s proprietary technology is
our businesses to thrive as energy systems
West Texas sand operations designed to extract the critical mineral from evolve,” wrote Phillips 66 chairman and CEO
the lithium-rich brine, with potential for
Greg Garland and president and COO Mark
ProFrac Holding announced today that its commercial development of battery-grade Lashier in a joint letter introducing the report.
subsidiary, ProFrac Holdings II, has entered products. “That’s why we are strengthening our core
into a definitive agreement to acquire SP Silica “This exciting collaboration brings together businesses, expanding our digital capabilities,
of Monahans, and SP Silica Sales, the West Imperial’s long-standing commitment to using technology to improve operating
Texas subsidiaries of Signal Peak Silica, for research and technology to help test and scale efficiencies and transforming our organisation
approximately $90mn. No additional terms E3’s lithium-recovery technology,” said Jason to increase productivity.
were disclosed. Iwanika, director of commercial business “We have ambitious goals, and we’re taking
Ladd Wilks, ProFrac Holding’s chief development at Imperial. “We continue to deliberate steps to achieve them.”
executive officer, stated: “Our acquisition of advance the innovation and technologies The company assessed its operations
Signal Peak Silica’s Permian Basin operations needed to support the energy transition, against numerous criteria for its 2022
is the latest example of scaling our vertical working in collaboration with governments report, including, for the first time, those
integration strategy as we continue to and industry to progress new opportunities set forth by the Global Reporting Initiative,
consolidate supply chain components to from existing assets and sector expertise.” an independent organisation that provides
better serve our customers, lower our costs “E3 Lithium and Imperial share an the world’s most widely used standards for
and improve our operating margins and interest in the diversification of the Alberta sustainability reporting. The results offer a
profitability.” economy, local job creation and sustainability,” transparent look at the company today – with
Matt Wilks, executive chairman, added: said Chris Doornbos, CEO of E3 Lithium. refineries in the U.S. and Europe, 22,000 miles
“The Monahans operation brings us a “Leduc No.1, Imperial’s first well into this of pipeline systems under its management,
dedicated and dynamic workforce and, by reservoir, was one of Imperial’s most prolific a petrochemical joint venture and a global
the third quarter of 2022, would expand oil discoveries in Alberta and transformed the network of fuelling outlets that distribute its
our total to three in-basin sand mines provincial and Canadian economies, much energy products – and how it plans to thrive
within the ProFrac portfolio. SPS Monahans like lithium has the potential to do. Having tomorrow and beyond.
provides nearly 3mn tons of annual sand Imperial now working with E3 Lithium in PHILLIPS 66, June 23, 2022
production capacity of 40/70 and 100 mesh exploring the redevelopment of Leduc into
and includes nearly 25,000 tons of on-site a world-class source of lithium is an exciting

P12 www. NEWSBASE .com Week 25 23•June•2022