US Silica profits collapse under weight of frac sand oversupply

By William Clarke
Published: Friday, 01 November 2019

Frac sand miner US Silica reported a loss in the third quarter of 2019, due to struggling with lower pricing.

The company cited plunging frac sand prices, with the market still struggling to absorb oversupply.

"Energy markets deteriorated further and faster than expected during the [June-September] quarter as [fracking company] budget exhaustion slowed completion activity, resulting in lower demand and pricing pressure," US Silica chief executive Bryan Shinn said on in an investor...

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