US Silica expects frac sand demand to rise further next year
Published: Thursday, 07 December 2017
United States-based sand company US Silica reported record earnings before interest, taxes, depreciation and amortization (Ebitda) of $96.7 million in the third quarter of 2017. The information was published in a report that came out after the close of trading on Monday November 6.
It cited "robust demand" for the company’s frac
sand - used in the hydraulic fracturing process to extract oil
and gas - as the main reason for the increased earnings, as
well as record profitability for industrial silica sand.
Third-quarter revenues at the company rose by about 150%