Eagle Materials, Inc. (EXP) is currently in the process of greenfielding a frac sand mind in Illinois that could grow to the size of its existing wallboard and cement business, says Todd Vencil, Research Analyst at Sterne Agee & Leach, Inc.
“That’s a company that I think is a very good company and incredibly well-run company that has some obviously very good opportunities ahead of it in the market recovery in the construction materials business, that’s all got itself set up to benefit from the energy boom if they’re able to do what they think they can,” Vencil said.
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Eagle Materials could greatly benefit from the growth of unconventional production of oil and gas in shales by providing sand to the hydraulic fracturing process.
“They are waiting on a final permit that we think they probably ought to get a ruling on by the end of this month. If they are able to do what they think they can do with this frac sand business, that business could end up being as big as even the original focus,” Vencil said.
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