Source Energy Services Ltd. has closed a new revolving asset-backed senior credit facility with a syndicate comprising FGI Worldwide LLC and CIT Northbridge Credit, as advised by CIT Asset Management LLC, providing access to financing of approximately C$75 million (US$55 million, and has made the Aug. 15, 2022, cash interest payment on its 10.5% senior secured first-lien notes due March…
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Atlas to Build Out Office Space in Austin
According to state and local economic development sources Atlas Sand dba Atlas Energy Solutions plans to invest $1,083,000.00 to build out 11,412 sq. ft. of new space in Austin, Texas. The company plans to occupy the new space at 5918 W. Courtyard Dr., Ste. 400, Austin, Texas, on or about April 1, 2023.
Read MoreU.S. Silica Holdings Reports Revenue Increase
U.S. Silica Holdings Inc. announced net income of $32.1 million, or $0.41 per diluted share, for the third quarter ended Sept. 30. The third quarter results were negatively impacted by $2.1 million pre-tax, or $0.02 per diluted share after-tax, of charges primarily related to merger and acquisition related expenses and optimization costs, partially offset by the gain on extinguishment of…
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• At press time Brent crude futures dropped $1.13 or 1.17%, to $95.83 a barrel, having climbed by 1.3% in the previous session. U.S. West Texas Intermediate (WTI) crude futures were down $1.08, or 1.21% at $88.01.
Read MoreSuperior Equipment Designed for Frac Sand Plants
Silica sand was historically used and consistently produced for golf courses, glassmakers and some industrial consumers. Then, in about 2010, demand dramatically increased as oil and gas producers discovered the durable, crush-resistant material. Overnight, frac sand production became the new gold rush, said Superior Silica Sand.
Read MorePhoenix Offers Solutions For Tailings Dewatering, Water Management
According to Phoenix Process Equipment, producers of construction aggregates, industrial sand, frac sand and minerals are confronted with changing business environments relating to materials specifications, production costs, the availabilities of reserves and water, and environmental regulations.
Read MoreThis Week’s Market Buzz
• At press time, Brent crude futures were down $2.73, or 2.89%, at $91.84 a barrel while U.S. West Texas Intermediate (WTI) crude futures fell $3.11, or 3.5%, to $85.99.
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• Oil prices are still headed to $150 a barrel as supply growth continues to lag, according to JPMorgan energy strategist Christyan Malek. Brent crude oil rose 1% to about $94 a barrel at press time but is well off its earlier high of more than $130 a barrel in March. While some analysts have cut their oil price outlooks,…
Read MoreAthabasca Revenue Up 127% in Second Quarter
Athabasca Minerals Inc. announced results for the second quarter ending June 30, and a strategic refocusing as part of the new emphasis on its core business and initiatives.
Read MoreAtlas Sand Appoints Allison Executive Vice President
Atlas Sand Co. LLC announced the appointment of Jeff Allison as executive vice president, sales and marketing. Responsible for Oilfield Services (OFS) sales, marketing, customer relationships and strategic commercial execution, he will play an integral role in ensuring Atlas will continue to provide premium quality products and services to the Permian Basin, North America’s most prolific resource play.
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