Fairmount reports $46m loss in Q3 as frac sand demand deteriorates further
Published: Thursday, 12 November 2015
With fracking activity showing no sign of rebounding, demand and prices for frac sand and resin-coated proppants deteriorated further over the quarter. However, Fairmount believes that as supply continues to consolidate the company has managed to retain market share.
US proppant supplier Fairmount Santrol has
reported a net loss of $46.2m for the third quarter of 2015,
compared with a net income of $54.1m last year, as demand for
silca (frac) sand used by the oil and gas industry continues to
Overall revenue for the company...