This Week’s Market Buzz

•    A former Preferred Sands executive is the subject of a feature story in Sports Illustrated.

•    According to the San Antonio Business Journal, a South Texas plant that processes frac sand is suing the company that made some of its equipment, claiming that faulty machinery cost it roughly $15 million. South Texas Frac LLC is suing Phoenix Process Equipment Co. for allegedly selling underperforming equipment. South Texas Frac owns a plant in Floresville, 30 miles southeast of downtown San Antonio and in the heart of the Eagle Ford Shale.

•    The primary creditor of Northern Industrial Sands wants to liquidate the business after alleging that more than $28 million was owed in principal and interest on a $40 million loan as of April 24. The creditor says interest continues to accrue at $8,176.63 per day.

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