Hi-Crush Reports Higher Production, Sales

Hi-Crush Partners LP reported second quarter 2017 results. Revenues for the second quarter of 2017 totaled $135.2 million on sales of 2,112,516 tons of frac sand. This compares to $83.4 million of revenues on sales of 1,384,887 tons of frac sand in the first quarter of 2017.

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Black Mountain Sand, Diamondback Energy Ink Supply Contract

Black Mountain Sand LLC has entered into a new multi-year supply contract with Diamondback Energy Inc., beginning in early 2018. This agreement will ensure Diamondback’s long-term continuity of frac sand supply through committed capacity of Black Mountain’s two 4 million tpy facilities and 1.5 billion tons of in-basin frac sand reserves.

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This Week’s Market Buzz

• Oil prices have slipped recently, pulling back from recent gains as exports from key OPEC producers rose and despite news of lower crude shipments from Saudi Arabia. The oil market has been in consolidation mode after a sharp rally between mid-June and late July pushed U.S. crude futures above $50 a barrel for the first time in several weeks. The price slipped back below $50 and has traded around that number as world supply has been slow to draw down. "It's just unable to break above $50," said Kyle Cooper, consultant for ION Energy in Houston. "It's boring, but there's a fundamental justification for prices being stuck between $45 and $55 without a significant geopolitical event."

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