Source: Reuters The companies that provide sand for hydraulic fracturing operations are the latest casualties of shale industry cutbacks as low oil prices and demands for higher investor returns stunt drilling activity. Two years ago, U.S. sand companies were racing to open West Texas mines to capitalize on a boom in oil and gas drilling, with more than 20 popping
CARBO Ceramics (ticker: CRR), a production enhancement services provider based in Houston, Texas, is not immune from the recent commodity downswing. Even though United States production is expected to remain flat or even increase through 2015, the declining rig count will affect CARBO’s operations in the near-term. “This is pretty historic,” said Gary Kolstad, Chief Executive Officer of CARBO Ceramics,
Gary Kolstad, Chief Executive Officer of CARBO Ceramics (CRR), presented today at EnerCom’sThe Oil & Gas Conference®17. CARBO Ceramics and subsidiaries are a Houston, Texas based oilfield services technology company and global market leader in providing oil and gas companies and oilfield service companies with the highest quality proppant, the industry-leading fracture stimulation software and industry-respected fracture design, engineering and
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