Hi-Crush Prepares to Emerge from Chapter 11

Hi-Crush Inc of Houston, TX has announced that the U.S. Bankruptcy Court for the Southern District of Texas has confirmed its Prearranged Plan of Reorganization. The company voluntarily filed petitions for reorganization under Chapter 11 protection earlier this year. Under the terms of the Prearranged Plan, the company eliminates approximately US$450 million of unsecured debt,...

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Hi-Crush Voluntarily Files for Reorganization

Hi-Crush Partners LP of Houston, TX has entered into a restructuring support agreement with certain noteholders, collectively owning or controlling approximately 94% of the aggregate outstanding amount of the company’s 9.5% Senior Secured Notes due 2026. To implement the terms of the agreement, the company has voluntarily filed petitions for reorganization under Chapter 11 of...

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U.S. Silica Delivers Solid First Quarter Performance

U.S. Silica Holdings Inc of Katy, TX has reported a first quarter net loss of US72.3 million on revenue of US$269.6 million versus a net loss of US$19.3 million on revenue of US$378.8 million in the first quarter of 2019. Overall sand tons sold by the company were 4.16 million, a 14% decrease from the...

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Canadian Metals Refocuses on Silicon Metal Project

Canadian Metals Inc of Montreal, QC has assembled a new management team focused on progressing its silicon metal project in Baie Comeau, QC in anticipation of a full review and update of its industrial feasibility study. A review of the project last year determined that capital expenditure would be about CDN$380 million and that a...

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U.S. Silica Executives Take Temporary Pay Cuts

U.S Silica Holdings Inc of Katy, TX has announced temporary pay reductions for its top executives and board in response to the COVID-19 pandemic and expected lower oilfield well completion activity. The group have volunteered to take up to a 20% temporary base salary reduction. The duration of these reductions will be dictated by market...

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