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Covia Sells Winchester and Western Railroad to OmniTRAX

Covia announced that it has executed a definitive agreement to sell its Winchester and Western Railroad (W&W) to an affiliate of OmniTRAX Inc. for total proceeds of $105.0 million in cash, subject to certain adjustments set forth in the definitive agreement. As part of the transaction, OmniTRAX will assume ownership of approximately 470 railcars, which the W&W currently owns.

Read more: Covia Sells Winchester and Western Railroad to OmniTRAX

U.S. Silica Posts Strong Second Quarter

U.S. Silica Holdings Inc. announced net income of $6.2 million, or $0.08 per basic and diluted share for the second quarter of 2019. In its oil and gas segment, the company is reporting:

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Black Mountain Partners with Hexion

Black Mountain Sand LLC and The Oilfield Technology Group (OTG) of Hexion Inc. announced a partnership created to provide in-basin production of resin-coated proppants. The partnership utilizes Hexion’s Voyager SM mobile resin coating service and substrate from Black Mountain Sand.

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Hi-Crush Sand Revenues up in Second Quarter

Hi-Crush Inc. is reporting revenues of $178.0 million in the second quarter of 2019 as compared to $159.9 million in the first quarter of 2019.

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Halliburton Cuts Workers; Idles Gear

Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear, according to Bloombeg.

Read more: Halliburton Cuts Workers; Idles Gear