US Silica sees signs of oil and gas recovery
Published: Monday, 07 November 2016
While the company reported a net loss year-on-year, revenues from its oil and gas segment have increased sequentially on the back of higher frac sand sales. Unfavourable mix issues and pricing pressure continued throughout most of the third quarter.
NYSE-listed silica (frac) sand producer US Silica has
reported a net loss of $11.3m for the third quarter 2016
compared with $2.3m net income in 2015 as activity in the oil
and gas segment remained at lower levels than the previous
Income improved slightly from the prior...