A St. Cloud, Minn., bank is reportedly suing Jordan Sands and the Coughlan family after it says they defaulted on a $22 million loan, according to the Mankata Free Press. Stearns Bank said they are still owed $18.5 million and that Jordan Sands is insolvent or in imminent danger of insolvency.
Read MoreDay: March 6, 2020
U.S. Silica Reports Fourth Quarter Loss
U.S. Silica Holdings Inc. reported a net loss of $292.9 million, or $3.99 per basic and diluted share, for the fourth quarter ended Dec. 31, 2019, compared with a net loss of $256.1 million, or $3.44 per basic and diluted share, for the fourth quarter of 2018.
Read MoreTorchlight Details Oil and Gas Potential from WolfPenn Well
Torchlight Energy Resources Inc. has measured substantial initial potential oil and gas hydrocarbon recoveries from the recently drilled and completed Cactus A35 #1H well.
Read MoreVictory Silica to Mine Canadian Land Resource
Victory Nickel Inc.’s subsidiary Victory Silica Ltd. has executed an agreement with Short Grass Ranches Ltd. giving the company the ability to mine frac sand from one of the owner’s properties. The initial term of the option is for five years with the ability to extend for additional five-year terms.
Read MoreThis Week’s Market Buzz
• Oil prices were higher at press time, shortly after two sources told Reuters that OPEC provisionally agreed to cut production by 1.5 million barrels per day. International benchmark Brent crude traded at $51.52, up around 0.8%, while U.S. West Texas Intermediate stood at $47.10, around 0.7% higher.
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