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Baker Hughes Makes Structural Changes

Baker Hughes is making structural changes to account for continued oil demand disruption after the coronavirus crippled economic activity around the world and compounded an historic oil bust, according to Bloomberg.

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Water Resources Act Funds Army Corps Projects

The House of Representatives passed H.R. 7575, a bill authorizing at least $8.6 billion in federal funds for 38 new Army Corps of Engineers construction projects, including flood and storm protection, river and port navigation and environmental restoration improvements.

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Smart Sand Revenues Down Sharply in Second Quarter

Smart Sand Inc. announced results for the second quarter 2020. Revenues were $26.1 million in the second quarter of 2020, compared to $47.5 million in the first quarter of 2020 and $67.9 million in the second quarter of 2019. Included in revenues were $14.0 million, $1.3 million, and $16.3 million of shortfall revenues for each respective period.

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U.S. Silica Loses $32.4 Million in Second Quarter

U.S. Silica Holdings Inc. announced second quarter 2020 results, including a net loss of $32.4 million, or $(0.44) per basic and diluted share. The second quarter results were negatively impacted by $33.4 million, or $0.35 per share, of charges related to asset impairments, plant startup and expansion, facility closure costs, and other adjustments, resulting in adjusted EPS for the second quarter of $(0.09) per basic and diluted share.

Read more: U.S. Silica Loses $32.4 Million in Second Quarter