This Week’s Market Buzz
Published: Wednesday, 27 July 2016 16:01
- A state appeals court has affirmed a decision blocking a frac sand mine in western Wisconsin, according to a report on Wisconsin Public Radio. The Mississippi Land Connection and Timber Company LLC and Wisconsin Bluff Sands LLC filed an application for a permit for a mine in the town of Waumandee in 2013. The Buffalo County Board of Adjustment denied the application after hearing from experts that little vegetation would grow in the area after the mine closed and from members of the public concerned about potential traffic, declining air quality and declining property values. The 1st District Court of Appeals upheld the board's decision, finding that the board properly considered the mine's environmental impact.
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U.S. Silica to Acquire Regional Frac Sand Producer
Published: Wednesday, 27 July 2016 15:56
U.S. Silica Holdings Inc. announced an agreement to acquire a leading regional sand producer for approximately $210 million. The acquisition of the NBR Sand unit of the privately owned New Birmingham Inc. is expected to close in August 2016, subject to certain adjustments at closing. The transaction will be funded using a combination of cash on hand (57 percent) and restricted stock (43 percent).
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New Proppants Being Produced in Canada
Published: Wednesday, 27 July 2016 15:53
The Oilfield Technology Group (OTG) of Hexion Inc., Columbus, Ohio, announced the release of new resin-coated proppants that are produced in Canada.
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Fairmount Santrol Takes a Hit in Second Quarter
Published: Wednesday, 27 July 2016 15:48
Fairmount Santrol announced preliminary financial results for the second quarter of 2016. Second-quarter 2016 revenues are expected to be between $113 million and $115 million, compared with $145.5 million for the first quarter of 2016 and $221.3 million for the same quarter in 2015.
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Eagle Frac Sand Sales Plummet
Published: Wednesday, 27 July 2016 15:43
Eagle Materials Inc. reported financial results for the first quarter of fiscal 2017 ended June 30, 2016. The company is reporting:
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