U.S. Silica Holdings, Inc. SLCA shares are trading higher after the company announced it will receive $128 million in consideration including $90 million in cash related to customer dispute settlement.
On June 28, the company entered into an agreement to settle a customer dispute regarding fees related to minimum purchase commitments from 2014-2020.
U.S. Silica is one of the leading suppliers of sand used in hydraulic fracturing of oil and gas wells.
U.S. Silica's stock was trading about 17.8% higher at $13.62 per share at the time of publication. The stock has a 52-week high of $15.38 and a 52-week low of $2.42.
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