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Hi-Crush shares rise after IPO

February 16. 2013 4:43PM
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(AP) Shares of Hi-Crush Partners LP rose more than 8 percent Thursday after the producer of sand used in oil and gas drilling launched an initial public offering.

The shares were at $18.40 in afternoon trading after opening at the offering price of $17.

Houston-based Hi-Crush sells sand used in hydraulic fracturing, or fracking the process of pumping water, sand and chemicals deep underground to break rock formations and release oil and natural gas. The technique has helped boost U.S. production of gas.

Associated Press

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