U.S. Silica Holdings Inc. said on Aug. 7 that Brad Casper, who serves as president of the Katy, Texas-based company, will resign “to pursue other opportunities.”
Casper joined U.S. Silica as vice president of strategic planning in 2011. He served as executive vice president and chief commercial officer from 2015 until his promotion to president in January 2020.
In a statement commenting on Casper’s resignation, which takes effect Aug. 31, CEO Bryan Shinn said: “Brad joined us nine years ago and has been an integral part of growing U.S. Silica into the diversified industrial minerals company that we are today. We appreciate Brad’s numerous contributions to our success and wish him the best in his future endeavors.”
On July 31, U.S. Silica, which produces commercial silica used in a wide range of industrial applications and in the oil and gas industry, reported a net loss of $32.4 million, or $0.44 per basic and diluted share for the second quarter. The company said its second-quarter results were negatively impacted by $33.4 million of charges related to asset impairments, plant startup and expansion, facility closure costs and other adjustments.
A few days before the April 1 meeting, OPEC+ delegates had said the group would likely keep most existing oil output cuts in place. But in the 24 hours before the meeting started, sources said discussions had shifted to a possible output increase.
Oil held near 2019 highs on March 20, supported by tightening U.S. stocks and declining output from key producers due to OPEC production cuts and U.S. sanctions on Iran and Venezuela.
Rising U.S. crude stocks dragged oil lower on April 11 but prices continued to find a floor as OPEC-led cuts and freefalling Venezuelan output tightened global supplies.