Frac sand producers report losses as oil and gas activity slows
Published: Friday, 18 March 2016
Fairmount posts deeper net loss in Q4 as drilling activity continues to slow sequentially; Hi-Crush reports further slowdown in prices.
Silica sand supplier Fairmount Santrol Inc. reported a
$90.8m net loss for the fourth quarter of 2015, compared with
net income of $37.9m the previous year, as volumes sold in all
of its business segments, particularly frac sand and proppants,
Net loss deepened from the previous quarter,...