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Smart Sand, Inc. (Nasdaq:SND), a pure-play, low-cost producer of high-quality Northern White raw frac sand, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3e5281d6-bc29-4692-a9da-b6c3455f7230
Frac sand is a preferred proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. Smart Sand provides their products primarily to oil and natural gas exploration and production companies and oil field service companies, under a combination of long-term take-or-pay contracts and spot sales in the open market. The size and favorable geologic characteristics of the company’s sand reserves, the strategic location and logistical advantages of its facilities and the industry experience have positioned Smart Sand as a highly attractive source of raw frac sand to the oil and natural gas industry.
“On behalf of our Board of Directors and the executive management team, I would like to thank all of our employees and customers in helping us to reach this milestone,” said Charles E. Young, Chief Executive Officer, Smart Sand.
“Smart Sand has been focused on addressing the critical supply constraints in the oil field services sector and facilitating management and efficiency of delivering quality Northern White sand. Combining cutting edge technologies and a commitment in substantiality, Smart Sand embodies the innovative spirit that defines Nasdaq-listed companies. We are excited to welcome Smart Sand to the Nasdaq family,” said Nelson Griggs, Executive Vice President, Listing Services, Nasdaq.
