CARBO Ceramics’ Revenues Increase 111 Percent

CARBO Ceramics Inc. reported that revenue for the second quarter of 2017 was $43.6 million, an increase of 111 percent year-over-year and 26 percent sequentially. The company is reporting an operating loss of $23.7 million for the quarter compared to revenue of $20.7 million and an operating loss of $30.0 million in the same period of 2016.

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Eagle Materials Proppant Revenues Jump 271 Percent

Eagle Materials Inc. reported financial results for the first quarter of fiscal 2018 ended June 30, 2017. The company is reporting record revenues of $366.1 million, up 23 percent.

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BMC Acquires Sand Reserves Near Kermit, Texas

Badger Mining Corporation (BMC) recently purchased property containing sand reserves located north of Kermit, Texas. The property contains more than 35 years of estimated sand reserves, predominately featuring finer grades of sand such as 40/70 and 100 mesh. The reserve will add in-basin Texas sand to BMC’s portfolio of Wisconsin Northern White, Atlas resin coated sand, TURBOprop, and extensive North American distribution footprint.

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Fairmount Locks Up 3,250 Acres of Sand Reserves in Texas

Fairmount Santrol has entered into a definitive 40-year lease agreement for approximately 3,250 acres of sand reserves located in Winkler County, Texas, in the Permian basin near Kermit, Texas.

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This Week’s Market Buzz

• A recent note released by Credit Suisse outlines the current development in frac sand supply and demand. Total U.S. demand for frac sand was highest in 2014, when the country consumed 56 million tons. Demand fell off during the downturn, and in 2015 and 2016 the U.S. consumed 48 and 34 million tons of sand, respectively. Increased activity has meant demand for sand is likely to break records in 2017, with 73 million tons of demand projected. More and more wells are being completed, according to the EIA. In 2016, an average of 590 wells were completed each month. In 2017, completions have been growing steadily, and 872 wells were completed in June.

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