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OFS - Covia expects its frac sand sales volumes to decline 15% in Q4 - November 2019

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Covia said its frac sand volumes are insufficient to meet fixed costs so it idled another frac sand mine—its sixth since September 2018. While asset sales allowed the company to post its first positive net income in more than a year, officials acknowledged Q3 was disappointing, and they expect frac sand volumes to decline another 15% during Q4. Other frac sand companies showed mixed Q3 results. Carbo Ceramics issued a “going concern” warning after......
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