carbo ceramics inc (CRR) Key Developments
CARBO Ceramics Inc. Announces Successful Application of Two of its Innovative Proppant Technologies, KRYPTOSPHERE® HD and SCALEGUARD®
Jun 16 15
CARBO Ceramics Inc. announced the successful application of two of its innovative proppant technologies, KRYPTOSPHERE® HD and SCALEGUARD®, for a major E&P operator in the Gulf of Mexico's Lower Tertiary trend, marking the larger and deepest job for these proprietary technologies to date. KRYPTOSPHERE HD, an ultra-high conductivity proppant technology for deep wells, is engineered to withstand high closure stresses and extreme cyclic loading conditions, for the life of the well. This technology provides higher production and estimated ultimate recovery (EUR), maximizing the operator's return on investment. SCALEGUARD is the first production enhancement technology in which scale inhibiting chemicals are infused into a ceramic proppant. This technology provides a controlled release of the scale inhibitor, resulting in long term protection against the formation of common oilfield scales. To address the operator's production challenges for its Gulf of Mexico Lower Tertiary development, CARBO engineered a tailored solution incorporating these two innovative technologies. Combining KRYPTOSPHERE HD and SCALEGUARD enables the operator to maximize both conductivity and the treatment of scale.
CARBO Ceramics Inc. Presents at 11th Annual Hotter ‘N Hell Energy Conference, Jun-17-2015
Jun 15 15
CARBO Ceramics Inc. Presents at 11th Annual Hotter ‘N Hell Energy Conference, Jun-17-2015 . Venue: The Houstonian Hotel, 111 North Post Oak Lane, Houston, TX, 77024, United States.
CARBO Ceramics Inc. Reports Earnings Results for the First Quarter Ended March 31, 2015
Apr 30 15
CARBO Ceramics Inc. reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported a GAAP net loss of $28.6 million, or a loss of $1.24 per share, on revenues of $73.7 million for the quarter ended March 31, 2015. This net loss includes $16.7 million, or $0.73 per share in miscellaneous after-tax charges and $5.5 million, or $0.24 per share of after-tax costs associated with slowing and idling production. Revenues for the first quarter of 2015 decreased 50%, or $74.8 million, compared to the first quarter of 2014. The decrease was mainly attributable to a decrease in ceramic proppant and resin coated sand sales volumes, partially offset by an increase in Northern White Sand sales volumes, as specified in the Proppant Sales Volumes table below. Operating loss for the first quarter of 2015 was $42.5 million compared to an operating profit of $27.4 million in the first quarter of 2014. The decrease was mainly attributable to the decrease in ceramic proppant sales volumes and a decrease in average proppant selling price. In addition, the Company recorded a $12.5 million loss on derivative instruments, and based on manufacturing accounting guidelines, the Company expensed $8.4 million in unabsorbed production costs as a result of low production levels and idled facilities. Operating loss was further impacted by $6.0 million in severance costs and a $4.4 million adjustment in cost of sales to reduce the value of certain inventory down to lower market prices. Loss before income taxes was $42.644 million against income before income taxes of $27.503 million a year ago.
CARBO Ceramics Inc., Annual General Meeting, May 19, 2015
Apr 1 15
CARBO Ceramics Inc., Annual General Meeting, May 19, 2015., at 09:00 Central Standard Time. Location: Hotel Granduca. Agenda: To elect eight directors to serve until the 2016 annual meeting of stockholders; to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm; to approve, by advisory vote, the compensation of the named executive officers; and to transact such other business as may properly be brought before the meeting.
R. Sean Elliott Resigns as Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer of CARBO Ceramics Inc., Effective April 10, 2015
Mar 20 15
On March 18, 2015, R. Sean Elliott, Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer of CARBO Ceramics Inc. resigned from such positions, effective as of April 10, 2015. Mr. Elliott's resignation was not due to a disagreement between the company and Mr. Elliott relating to the company's operations, policies or practices.