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Domestic oil exploration drilling is expected to cause “extreme“ demand for frack sand in western Wisconsin in coming years. according to a new report. reports AP.
The IHS Markit report indicated that the value of proppant sand. used to keep open cracks in rock formations deep underground. will exceed $4 billion this year and is expected to grow to nearly $6 billion over the next five years.
Wisconsin has historically produced about a third of the domestic supply of industrial sand. The Wisconsin State Journal reported. Continued exploration for oil. gas and the use of more sand per well are driving demand for silica sand. according to the report.
Analyst Brandon Savisky authored the report. He said oil production in Texas’ Permian basin accounts for roughly 40 percent of the demand.
The U.S. Energy Information Administration estimates that domestic crude oil production will reach record levels in 2018 and 2019. The EIA also forecasts U.S. natural gas production. consumption. and exports will grow through 2019.
