Q3 should be the bottom for sand demand. My guess is that EMES gets a zillion calls about the quarterly distributions and they really can't answer them without putting out a press release each time. They did say on the last quarter CC in August that full year distributions for 2015 should be $2.50.
I talked to HCLP and they said Q3 revenues would be less than Q2, but costs would also be lower.
My view on both of these is that investors should be looking beyond 2015. EMES and HCLP will survive and they will come out with higher market share. Demand for their high quality frac sand is not going away. As operators in the big shale plays move to pad development drilling, even more sand will be needed.
In my lifetime, all previous oil price cycles (except for 1986) have gone full cycle in about two years. This one started in July, 2014. Somewhere between the 10th and 15th month of all previous cycles we have seen the low price. I think when WTI dipped below $40 on August 24 we saw the low for this cycle. It was also the 3rd test of the low.
Go to this website and under Crude Oil Overview, click on "1W":
http://www.investing.com/commodities/crude-oil
In case you are wondering, this is nothing like 1986. Then OPEC had over 13 million bbls per day of excess production capacity. Today, OPEC has almost zero excess capacity. All of the OPEC members have the "peddle to the medal" today and only Saudi Arabia "might" have more oil to bring to the market. It is going to take Iran much longer than people thing to ramp up to pre-sanction levels when (and if) the sanctions are lifted next summer. IMHO when Iran gets their dirty hands on the money we will see a big increase in terrorist activity. I hope I am wrong.