This oilfield services company designed and produced a nanotechnology ceramic proppant used in oil and gas “fracking” but the operations never achieved sufficient volume and economies of scale to reach a profitable cost structure prior to the macroeconomic downturn in that industry. The Chapter 11 debtor in Houston, TX raised approximately $150MM in equity, and at the time of filing, owed more than $40MM in senior and subordinated secured debt.
Oxane Materials
