Emerge Energy Services LP (EMES) saw its loss narrow to $11.39 million, or $0.38 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $34.22 million, or $1.41 a share.

Revenue during the quarter surged 153.94 percent to $75.34 million from $29.67 million in the previous year period. Gross margin for the quarter period stood at positive 4.03 percent as compared to a negative 47.59 percent for the previous year period.

Operating loss for the quarter was $7.50 million, compared with an operating loss of $29.83 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.07 million compared to negative $9.51 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at 0.09 percent for the quarter compared to negative 32.06 percent in the last year period.

"The first quarter of 2017 marked an inflection point for the frac sand industry and Emerge Energy, and we expect this strong momentum to continue throughout 2017," said Ted W. Beneski, chairman of the board of directors of the general partner of Emerge Energy. "Completion activity for the onshore oil and gas markets continues to strengthen across North America. Supply and demand tightened quickly, allowing prices to rise back towards more sustainable levels, and prices are continuing to rise in the second quarter. Our volumes increased by 51.5% sequentially to 1.251 million tons, which reflected a record quarter and another period of substantial market share gains for Emerge Energy. As announced two weeks ago in April, we closed the exciting acquisition of Osburn Materials to bolster our presence in local sands. We are now in a stronger position to take advantage of the current upswing in the market."