Fairmount Santrol, an Ohio-based sand producer that sells sand as a proppant for use in Utica and Marcellus Shale drilling, recently released its fourth quarter and full year 2017 update. Sand is good in Buckeye State. Fairmount reports the company sold 43.8% more sand in 2017 than in 2016–a sure sign that drilling in the Marcellus/Utica spiked up in 2017. Fairmount made $53.6 million in 2017, versus loosing $140.2 million in 2016, which is another positive sign. According to CEO Jennifer Deckard, “Proppant demand remained robust during the fourth quarter.” This may be the last quarterly update we bring you from Fairmount. As you may recall, late last year the company announced it is selling itself to Unimin, a subsidiary of Belgium-based SCR-Sibelco (see OH Sand Producer Fairmount Santrol Merging w/Unimin in $170M Deal). The sale/merger with Unimin has not yet happened but will this year…
Fairmount Santrol, an Ohio-based sand producer that sells sand as a proppant for use in Utica and Marcellus Shale drilling, recently released its fourth quarter and full year 2017 update. Sand is good in Buckeye State. Fairmount reports the company sold 43.8% more sand in 2017 than in 2016–a sure sign that drilling in the Marcellus/Utica spiked up in 2017. Fairmount made $53.6 million in 2017, versus loosing $140.2 million in 2016, which is another positive sign. According to CEO Jennifer Deckard, “Proppant demand remained robust during the fourth quarter.” This may be the last quarterly update we bring you from Fairmount. As you may recall, late last year the company announced it is selling itself to Unimin, a subsidiary of Belgium-based SCR-Sibelco (see 