Smart Sand Inc. announced results for the fourth quarter and full year ended Dec. 31, 2016. Revenues were $59.2 million for the full year 2016, compared with $47.7 million for the full year 2015, a 24 percent increase year over year. Overall tons sold were approximately 826,400 in the full year 2016, compared with approximately 750,700 tons sold in the…
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Smart Sand Set to Increase Production at Oakdale
Smart Sand Inc. announced that based on its assessment of increased demand for its products, particularly fine mesh sand, the company has decided to increase the wet and dry plant processing capacity at its Oakdale facility in order to produce up to approximately 4.4 million tons of raw frac sand per year.
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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,…
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Smart Sand plans to go public. The company has filed a registration statement with the Securities and Exchange Commission for an initial public offering, documents show. Smart Sand operates two white sand processing sites in Wisconsin with a combined 344 million tons of “proven recoverable” sand reserves. In its SEC filing, the company said the two sites give it a…
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