On Friday, Shares of U.S. Silica Holdings Inc (NYSE:SLCA), lost -6.90% to $17.13.
The demand for frac sand has exploded in the past several years as thousands of oil and natural gas wells are being stimulated using the hydraulic fracturing process. A hydraulic fracturing job on one well can require a few thousand tons of sand. This surge of specialized drilling has created a billion dollar frac sand industry in a very short time. Frac sand (proppant) use has nearly doubled since Q3 2012.
Recently, one of the largest Silica Sands producers, U.S. Silica Holdings, Inc. (SLCA) declared the delivery of a record-breaking 150-car unit train carrying over 16,500 tons of U.S. Silica White(R) frac sand from Ottawa, IL to a transload facility serving the Permian Basin.
Although the U.S. land rig count has declined during 2015 as a result of lower oil prices, large volumes of sand continue to be required as current completion designs for wells demand raised volumes of sand per stage and more stages per well. It is estimated that sand usage per well has raised by 26% from the 3rd quarter of 2014 to the 2nd quarter of 2015, according to a recent report from PacWest Consulting Partners and that trend appears to be ongoing.
U.S. Silica Holdings, Inc. produces and sells commercial silica in the United States. It operates through two segments, Oil & Gas Proppants, and Industrial & Specialty Products. The company offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, in addition to sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products.
Shares of Unilever N.V. (ADR) (NYSE:UN), inclined 0.87% to $45.32, during its last trading session.
Unilever Trading Statement Third Quarter 2015
Third quarter highlights
- Turnover raised by 9.4% to EUR 13.4 billion counting a positive currency impact of 2.9%
- Underlying sales growth 5.7% with volume up 4.1% and price up 1.5%
- Emerging markets underlying sales growth 8.4% with volume up 4.8% and price up 3.5%
Nine months highlights
- Turnover raised by 11.1% to EUR 40.4 billion counting a positive currency impact of 7.6%
- Underlying sales growth 3.8% with volume up 2.1% and price up 1.6%
- Emerging markets underlying sales growth 6.8% with volume up 2.9% and price up 3.8%
Unilever N.V. operates as a fast-moving consumer goods company in the Americas, Europe, Asia, Australasia, Africa, the Middle East, Turkey, Russia, Ukraine, and Belarus. The company operates through Personal Care, Foods, Refreshment, and Home Care segments. The Personal Care segment offers skincare and haircare products, deodorants, and oral care products.
Finally, Shares of BorgWarner Inc. (NYSE:BWA), ended its last trade with -0.86% loss, and closed at $43.64.
Remy International, declared that on October 13, 2015, the Korea Fair Trade Commission granted approval of the projected acquisition (the Transaction) of Remy by BorgWarner Inc. (BWA).
As formerly declared by Remy, on September 22, 2015, Remys stockholders adopted the Agreement and Plan of Merger, dated as of July 12, 2015 (the Merger Agreement), by and among Remy, BorgWarner and Band Merger Sub, Inc. at a special meeting of Remys stockholders called for such purpose.
The closing of the Transaction remains subject to the satisfaction or waiver of customary conditions to closing set forth in the Merger Agreement, which comprise:
- the receipt of any approval required under Chinese antitrust law and the termination or expiration of any applicable waiting period thereunder;
- the accuracy of each partys representations and warranties (subject to customary materiality qualifiers);
- each partys compliance with its agreements and covenants contained in the Merger Agreement; and
- the absence of any law, ordinance, rule, regulation, order, judgment or decree being in effect that restrains or enjoins, or otherwise prohibits or makes illegal, the consummation of the Transaction.
BorgWarner Inc. manufactures and sells engineered automotive systems and components primarily for powertrain applications worldwide. The company’s Engine segment offers turbochargers, timing devices and chain products, emissions systems, thermal systems, and diesel coldstart and gasoline ignition technology.
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