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Sand Means Gold as U.S. Fracking Demand Booms: Chart of the Day
http://www.bloomberg.com/news/2014-08-29/sand-means-gold-as-u-s-fracking-demand-booms-chart-of-the-day.html
Shares of U.S. companies which supply sand to energy producers are surging in response to the growing use of fracking, or extracting oil and natural gas from shale formations.
The CHART OF THE DAY tracks the performance of three suppliers -- Emerge Energy Services LP, Hi-Crush Partners LP and U.S. Silica Holdings Inc. -- since Emerge went public in May of last year. The Russell 2000 Index, which includes U.S. Silica, is also shown for comparison.
Emerge Energy, a Southlake, Texas-based partnership that made its initial public offering at $17 a share, changed hands for more than $140 yesterday. Hi-Crush, based in Houston, and U.S. Silica, based in Frederick, Maryland, more than tripled during the past 15 months.
“Sand is the new gold,” Ivaylo Ivanov, founder of Ivanhoff Capital, wrote yesterday in a blog posting with a similar chart. The San Diego-based investor favored Hi-Crush, whose shares were rebounding after pulling back from a record reached on July 22.