This Week’s Market Buzz
Published: Wednesday, 16 October 2013 15:56
- Hi-Crush Partners LP announced that Hi-Crush Operating LLC, a wholly owned subsidiary of Hi-Crush, has reached an amicable settlement with Baker Hughes Oilfield Operations Inc., or Baker Hughes, in previously disclosed litigation between the parties and have filed with the State District Court of Harris County, Texas, a Joint Motion to Dismiss with Prejudice with respect to all claims and counterclaims asserted in the lawsuit. In connection with the settlement, Hi-Crush and Baker Hughes have entered into a six-year supply agreement for the sale of Northern White frac sand by Hi-Crush to Baker Hughes. James Whipkey, co-chief executive officer of Hi-Crush, said, “We are very pleased to have amicably resolved this matter with Baker Hughes and to strengthen our relationship with them by entering into a six-year supply agreement. We consider Baker Hughes a valuable partner as we continue to expand our market presence.”
- More than two years after Dave and Sherry Nisbit first sought a permit to mine silica sand on their 19.2-acre Saratoga Township, Minn., parcel, mining partners Tom Rowekamp and Ivey Popplewell opened for business. The Nisbit mine was fought vigorously by frac sand opponents, who are currently challenging in appeals court the Winona County Board’s split-vote decision not to require an Environmental Impact Statement (EIS) for the project, according to the Winona Post.
- Officials in western Wisconsin have rejected a company’s request to open a frac sand mine in Trempealeau County, citing environmental concerns and saying the company had only offered a vague outline of its plans. The county’s Land Use Committee voted 5-3 to deny the permit sought by AllEnergy Silica. The company was seeking a conditional-use and reclamation mine permit so it could mine nonmetal quarry near the town of Arcadia, the La Crosse Tribune reported. Several committee members said the company was too vague about how it planned to transport sand and mining output.
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