Reuters U.S. Silica Holdings Inc said on Friday it had cut about 230 jobs, or 10% of its workforce, as demand for its frac sand comes under pressure from oil and gas producers reducing drilling in the backdrop of volatile prices. The job cuts included employees impacted by idling of its two mines in Utica, Illinois and Tyler, Texas,
From Bloomberg For the last six years, Kevin Bowen has made good money selling sand to shale frackers who use it for drilling. It was hard not to. The industry has been booming in the oil fields of West Texas. But today the U.S. frack-sand industry is swimming in an excess of supply that has battered prices and cut the
From Houston Chronicle Houston-area frac sand company U.S. Silica has closed on a $23 million deal to buy a Georgia plant that was used to make ceramics proppants for the hydraulic fracturing process. U.S. Silica Holdings Inc. announced on Monday morning that it closed the deal to buy the Carbo Ceramics plant in Millen, Ga. Headquartered in Katy, U.S. Silica
One of the large frac sand providers, U.S. Silica Holdings, Inc. (stock ticker: SLCA), said today that its Industrial and Specialty Products business for silica sand will increase 2019 prices for most of its non-contracted silica sand and specialty products from 2 to 9 percent, depending on the product and grade. U.S. Silica VP of Investor Relations and Corporate Communications
In its Q3 conference call Sand giant U.S. Silica (ticker: SLCA) President and CEO Bryan Shinn made some interesting comments about Northern White pricing and capacity shut-ins by competitors. Highlights from Q3: Third quarter revenue of $423.2 million GAAP and adjusted EPS for the quarter of $0.08 and $0.44, respectively Oil and Gas volumes up 10 percent sequentially Strong operating
From KWTX KOSSE, Texas (KWTX) U.S. Silica cut the ribbon Tuesday on an $8 million expansion project and its sand mine and processing facility in Kosse in Limestone County. The sand mined and produced at the plant is primarily used by the oil and gas industry as frac sand, the company said. The plant also supplies sand to the construction industry
U.S. Silica Provides Update On Capital Allocation Plan
Monster fracs, superlaterals are here to stay Remember when that kid you didn’t like in middle school used to tell you to ‘go pound sand’? Somebody who later became a petroleum engineer has heeded that advice and began to work on the monster frac. Sand, known in the oil and gas industry as proppant, is what’s hot. In today’s world
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