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Smart Sand Revenues Up Year-Over-Year; Makes Acquisition

Smart Sand Inc. announced that first-quarter revenues were $42.6, a slight decrease compared to fourth quarter 2017 revenues of $43 million. The decrease in revenues was primarily due to higher production costs and lower freight revenue, offset by higher sales volumes and a higher average price per ton sold.

Read more: Smart Sand Revenues Up Year-Over-Year; Makes Acquisition

Judge Invalidates Meteor Timber’s Wetland Permit

Atlanta-based Meteor Timber is appealing a judge’s decision to invalidate wetland permits it was issued by the Wisconsin Department of Natural Resources (DNR) to fill 16 acres of wetland in Monroe County as part of a proposed $75 million frac sand processing and rail loading facility, according to Wisconsin Public Radio.

Read more: Judge Invalidates Meteor Timber’s Wetland Permit

Eagle Materials Proppant Revenue Up 147 Percent

Eagle Materials Inc. reported record revenue of $1.4 billion, up 14 percent for fiscal year 2018; and record revenue of $284.7 million, up 2 percent for its fiscal fourth quarter ended March 31, 2018.

Read more: Eagle Materials Proppant Revenue Up 147 Percent

Preferred Proppants Begins Building Oklahoma Frac Sand Plant

Preferred Proppants LLC announced that construction is underway on an in-basin frac sand mine and facility in Oakwood, Okla. The mine is expected to come online in the third quarter of 2018 and the company is currently looking to fill approximately 100 positions including electricians, maintenance technicians, heavy equipment operators, loaders, utility hands, plant operators, loadout operators and more.

Read more: Preferred Proppants Begins Building Oklahoma Frac Sand Plant

This Week’s Market Buzz

• Select Sands Corp. has secured a $3.89 million capital expenditure line of credit to fund the company's previously announced expansion project to increase production capacity of its high-quality silica sands to 1 million tpy to meet the growing demand of its existing client base. Zig Vitols, president and CEO of Select Sands said, "We are very excited to secure financing for our latest expansion project. We are continuously striving to meet the growing demand from our expanding customer base and this project will be a significant step in meeting that demand while also increasing profitability of the company."

Read more: This Week’s Market Buzz