Proppant pricing "unsustainable" low: Fairmount Santrol
Published: Friday, 10 March 2017
The US frac silica sand producer reported a loss in the last quarter of 2016 despite higher revenues and volumes y-o-y. While Fairmount noted an uptick in prices in Q4 and in early 2017, the company added that proppant prices still stand at unsustainably low levels.
Fairmount Santrol has reported a net loss of $19.9m for the
fourth quarter of 2016, despite a year-on-year (y-o-y)
improvement in revenue and silica sand volumes sold. Fourth
quarter revenue stood at $140.5m, up 4% sequentially and 4%
from Q4 2015....