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Emerge Energy Services LP (NYSE:EMES) announced the closing of a transaction to acquire Osburn Materials, a local sand producer based outside of San Antonio Texas, for approximately $20 million.
About Emerge Energy ServicesEmerge Energy Services LP owns, operates, acquires and develops a portfolio of energy service assets.
Emerge Energy Services LP (NYSE:EMES) had its price objective hoisted by equities researchers at Wunderlich to $30.00 in a report issued on Thursday.
Emerge Energy Services has a 1-year low of $2.91 and a 1-year high of $21.58.
Russell Investments Group Ltd. bought a new position in Emerge Energy Services during the fourth quarter valued at approximately $764,000.
Royal Bank of Canada raised its position in Emerge Energy Services by 4.9% in the second quarter.
as informed in
Emerge Energy Services LP to Acquire Local Sand Operation for $20 million
Fort Worth, Texas – April 17, 2017 – Emerge Energy Services LP (“Emerge Energy”) today announced the closing of a transaction to acquire Osburn Materials, a local sand producer based outside of San Antonio Texas, for approximately $20 million.
Rick Shearer, Chief Executive Officer of the general partner of Emerge Energy, added, “We are very excited about what Osburn Materials will contribute during the next chapter for Emerge Energy.
Emerge Energy will host a conference call on Wednesday, April 19, 2017 at 4:00 p.m. C.T.
Osburn Materials has over 80 million tons of sand reserves as of the effective date of the acquisition, according to internal estimates.
The sand reserves, which consist mostly of 40/70 and 100 mesh, meet API specifications for all grades.
collected by :Molly Tony