No end to proppant demand decline as Fairmount Q2 revenue drops 34%
Published: Wednesday, 12 August 2015
The company saw its income and revenue decline both y-o-y and sequentially as continued low drilling activity in oil and gas is choking already shrinking proppant demand. While some companies have declared the substitution of more expensive proppants is at an end, Fairmount is still seeing customers make the switch to frac sand.
Proppant supplier Fairmount Santrol has reported a 34%
year-on-year (y-o-y) drop in revenues to $221.3m for Q2 2015 as
demand for proppants continues to decline on the back of lower
drilling activity the US oil and gas sector.
The decline in oil and gas prices has forced E&P