Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Proppant | Second Quarter (2Q) Update | Financial Results | Capital Markets
Carbo Revenue Falls 75% As Operators Migrate to Sand Completions
Print
|
In our Q1-2015 Frac & Completions report, we pointed out, that the new trend in large slickwater fracs and increased sand proppant usage would herald in a new day for ceramic providers like Carbo. The company provided the following Q2-2016 update below. The company saw revenues down 72% & proppant sales volume down -75%.
Second Quarter 2016 ResultsRevenues for the second quarter of 2016 decreased 72%, or $52.6 million, compared to the same period in 2015. The decrease was primarily attributable to a 53% reduction in the average North American rig count, which resulted in a decrease in proppant sales volumes (as specified in the Proppant Sales Volumes table below), associated reductions in the average proppant selling prices, and a move to lowest-cost completions.
Operating loss for…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Proppant News
Smart Sand Fourth Quarter, Full Year 2020 Results
Smart Sand, Inc. reported its Q4 and full year 2020 results. Charles Young, Smart Sand's Chief Executive Officer, stated "Despite volatile market conditions throughout 2020, Smart Sand continued…
Torchlight Begins Frac Ops at Midland Basin Hazel Project
Torchlight Energy Resources, Inc. reported that the operator of its Hazel Project has completed hydraulic fracturing operations. The project is located in the Midland Basin and targets the…
Today in Completions: DJ Basin Well Hits 1,400 BOEPD IP24 (82% Oil)
Upland Exploration, Inc. has reported a company record IP from its recently completed seven-well pad in the DJ Basin. In Weld County, CO, Upland's Little Lady 22-1NH well…
Proppant Supplier Files for Bankruptcy
Vista Proppants and Logistics, LLC and its subsidiaries have filed for bankruptcy. The company's operations are focused on the Permian, Eagle Ford and Anadarko Basin. The Company currently…
Carbo Ceramics Grapples with Financials Are Losing Biggest Customer
Carbo Ceramics detailed its 3rd quarter update. Here is a quick look at the important things the company talked about: The company has engaged a financial advisor, stating…
United States News
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
New E&P Scores Capital; Heading To the MidCon Region
Company Overview 406 Energy, LLC is a newly formed, Houston-based upstream oil & gas development company launched in October 2025 with an initial equity commitment from NGP Natural…
2025 Forecast : Dangerous Time Ahead
This is the time of year when we share a clear view into how we’re thinking about what to expect for drilling and completion activity in 2025. To…
Petrus Resources Ltd. First Quarter 2023 Results
Petrus Resources Ltd. announced first quarter 2023 results. Highlights Higher production – Production was up 54% from 7,379 boe/d(1) in the first quarter of 2022 to 11,385 boe/d…