Report
Preston Caldwell
EUR 147.86 For Business Accounts Only

Fairmount stands out as most disadvantaged proppant company due to resin focus.

In our view, 71 million tons of annual proppant supply, or about 27% above the 56 million tons of peak demand in 2014, is adequate to fulfill the call on U.S. shale production in 2020 and afterwards. We expect just over 18,000 North American horizontal wells completed in 2020 (11% below 2014), but average proppant per well to be 7.7 million pounds (about one third higher). These increased proppant loads have led to increased well productivity, which correspondingly reduces the number of wells re...
Underlying
Fairmount Santrol Holdings

Fairmount Santrol Holdings is a provider of sand-based proppant solutions used by exploration and production companies for their oil and gas wells. The company also provides sand-based products to end users in the industrial and recreational products (I&R) markets. The company is organized into two segments: proppant solutions and I&R. The proppant solutions segment provides sand-based proppants for use in hydraulic fracturing operations throughout the U.S. and Canada, Argentina, Mexico, China, northern Europe and the United Arab Emirates. The I&R segment provides raw, coated and blended sands to the foundry, building products, glass, turf and landscape and filtration industries primarily in North America.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Preston Caldwell

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