This Week's Market Buzz

  • Shale Support Holdings LLC, a leading provider of frac sands and logistical solutions to the oil and gas proppant market, has announced its newest exclusive terminal located in Gibsland, La. The terminal boasts 24-hr operations, seven days-a-week, 100-car capacity, easy access to major highways, on-site space to store containerized sand boxes, and room to add future storage capabilities. Shale Support is strategically aligned with key destination terminals that serve the Marcellus, Utica, Haynesville, Tuscaloosa, Mid-Con, Permian and Eagle Ford shale basins. The company has the flexibility to ship proppant via rail, road and barge.
  • Select Sands Corp. announced the resignation, effective Feb. 4, 2018, of David Giannini from the company's board of directors. Giannini decided to leave the board to focus on other pursuits, and the company will review potential replacement directors in the coming weeks. Zig Vitols, president and chief executive officer, commented, "We appreciate David's service and wish him well for the future. The company has accomplished much during David's time on the board, and we look forward to further significant progress both operationally and financially as we move through 2018 and beyond."
  • Atlas Sand Co., LLC and BlackGold Capital Management LP announced the closing of a $150 million credit facility to fund a portion of the ongoing construction of Atlas's Kermit and Monahans frac sand plants and for general company purposes. With the closing of this financing, combined with equity capital that has been committed to date, Atlas has fully secured an amount of capital that the company believes is sufficient to complete the construction of both the Kermit and Monahans plants. Atlas Sand's CFO, John Turner commented, "We're very pleased to bring on a very experienced energy investor like BlackGold as a partner. BlackGold understands the size of the opportunity created by the ongoing Permian Basin frac sand disruption. This transaction represents another significant step towards our long-term growth plans."