This Week’s Market Buzz

  • Frac sand producers are raising prices due to stronger demand, betting on an improving outlook for the oil industry, said Scott Cockerham, managing director at consulting firm Huron. “It’s a very symbiotic system,” he said. However, of late, crude prices have also dipped from their recent highs near $52 a barrel; U.S. crude futures were trading at $43.87 a barrel, a six-week low. Oil prices have also dropped following the U.S. presidential election.
  • ‎Hi-Crush Proppants had slightly more than 600 rail cars in storage at the end of the year’s third quarter, down from about 1,900 six months ago, Chief Financial Officer Laura Fulton said during an earnings call. “What a different picture we see from just six months ago,” she said, adding that Hi-Crush expects double-digit volume increases in the fourth quarter.
  • Smart Sand Inc. visited the Nasdaq MarketSite in Times Square in celebration of its initial public offering (IPO) on The Nasdaq Stock Market. “On behalf of our board of directors and the executive management team, I would like to thank all of our employees and customers in helping us to reach this milestone,” said Charles E. Young, chief executive officer, Smart Sand.

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