Covia stands out as the most disadvantaged proppant company because of its resin focus.
In our view, 128 million tons of annual proppant supply--nearly double the 67 million tons of peak demand in 2014--will be needed to fulfill the call on North American shale oil and gas production by 2022 and afterward. This is driven by a 150% increase in proppant use per well. On face value, this massively increased proppant demand would seem to augur quite positively for proppant suppliers.However, a vast amount of low-cost frac sand has been uncovered in the heart of the Permian Basin, which...Covia Holdings is a holding company. Through its subsidiaries, the company provides minerals-based and material solutions for the Industrial and Energy markets. The company's Industrial segment provides raw products to the glass, ceramics, coatings, polymers, construction, foundry, filtration, sports and recreation and various other industries. The company's Energy segment provides the oil and gas industry a portfolio of raw frac sand, proppants, well-cementing additives, gravel-packing media and drilling mud additives that meet or exceed the American Petroleum Institute standards. The company's products serve hydraulic fracturing operations in the United States, Canada, Argentina, Mexico, China, and northern Europe.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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