Covia Energy and Black Mountain Sand to merge to create Iron Oak Energy Solutions.

Covia Energy, a provider of high-quality proppant and logistical solutions, and Black Mountain Sand, a supplier of high quality, cost effective regional frac sand servicing, agreed to merge to create Iron Oak Energy Solutions, a diversified proppant supplier. Financial terms were not disclosed. "This combination creates a leading proppant provider across the most active oil and gas shale basins in North America, and with a debt-free balance sheet, Iron Oak Energy is well positioned to pursue further mergers and acquisitions. The scale and reach of the combined company are unmatched and allow us to better serve our existing customers' needs across multiple basins and capture new opportunities. Further, our diversified network of production facilities and significant storage position in the Permian Basin provide the scale, reliability, and deliverability of volumes required to meet the increasing proppant demands of longer-lateral, higher intensity completions," Michael Segura, Covia Energy President and Chief Executive Officer.