Emerge Energy Services LP (EMES) saw its loss widen to $20.78 million, or $0.77 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $9.89 million, or $0.41 a share.

Revenue during the quarter dropped 4.23 percent to $42.62 million from $44.50 million in the previous year period. Gross margin for the quarter stood at negative 20.28 percent as compared to a positive 12.39 percent for the previous year period. Operating margin for the quarter stood at negative 43 percent as compared to a negative 15.02 percent for the previous year period.

Operating loss for the quarter was $18.33 million, compared with an operating loss of $6.68 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $10.65 million compared with $3.85 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 24.98 percent for the quarter compared to 8.66 percent in the last year period.

"The recovery in the oil and gas markets gained momentum in the fourth quarter and has accelerated in the early parts of the first quarter," said Ted W. Beneski, chairman of the board of directors of the general partner of Emerge Energy. "The fourth quarter was our first full quarter without the fuel business, so we are now a pure-play frac sand company. Our sand volumes increased by 68% sequentially to 825,699 tons, and our continuing operations Adjusted EBITDA improved by $0.3 million sequentially. Small price increases started to take effect near the end of the quarter, but we are now realizing significant upward pricing movements to start 2017. We further strengthened our balance sheet with a $36.9 million net equity raise, which lowered our bank loan balance to approximately $141 million at December 31, 2016, and we are now well positioned to take advantage of the current upswing in the North American shale markets as frac sand demand has rebounded significantly with higher drilling and completion activity."