Interesting. Notice how they estimate 30 years of reserves. That’s a generation of mining jobs.
Texas energy partnership Natural Resource Partners L.P. ( NRP ) announced its acquisition of frac sand reserves in Wisconsin for an amount of $15.0 million. The reserves span across 561 acres adjacent to the Wyeville village in Monroe County.
The Northern White reserves buyout was financed from Natural Resources’ credit accounts. Frac sand is used in the fracturing process during the completion of wells in the petroleum industry. The reserves are advantageously located and have a projected life of more than 30 years.
The production plants also have logistics support which will enable the facility to have easy access to all prime U.S. oil and natural gas basins including the resource-rich Bakken play. The sand assets which as of now are being mined, processed and sold under long-term contracts are expected to generate revenue straightaway for Natural Resource.
Excellent news for American oil industry. With so much being exported it’s no wonder gas prices have been manipulated to be so substantially high. Plus all the jobs that will open up in Wisconsin is great.