Oil and Gas 360 KATY, Texas, April 24, 2020 /PRNewswire/ — U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced temporary pay reductions for its top executives and board in response to the COVID-19 pandemic and expected lower oilfield well completion activity. The CEO, Bryan Shinn, members of the board of directors and company officers have volunteered to take up to a 20% temporary
Houston Chronicle Citing rising demand and production costs, Katy frac sand company U.S. Silica is raising the price of its non-frac sand products. In a Tuesday morning statement, U.S. Silicia that it is raising prices for most of its products used to make everything from paints and roofing materials to chemicals, building products and kitty litter. Depending on the product
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
Source: Reuters (Reuters) – U.S. Silica Holdings shares plunged 33% after the frac sand miner said it expects demand to slow in the fourth quarter and reported a bigger-than-expected quarterly loss on Tuesday, weighed down by lower prices. Prices for the proppant used to crack the ground and extract oil have dropped in North America as oil producers drill and
