LSB reports ammonia plant shutdown in Pryor

Unplanned compressor problems at a chemical plant in Pryor caused the Oklahoma City-based chemical and manufacturing company LSB to move up previously scheduled maintenance.
by Paul Monies Modified: November 21, 2012 at 11:56 am •  Published: November 22, 2012
Advertisement
;

Unplanned maintenance on a compressor at a Pryor chemical plant will cause LSB Industries Inc. to shut down ammonia production for up to eight weeks, the Oklahoma City-based company said Wednesday.

LSB said the shutdown is expected to cause a loss of about $2 million in operating income per week until production resumes.

Trading in LSB shares was delayed about an hour after the market opened Wednesday. In heavy, midday trading, the stock was down more than 6 percent to $31.56 on the New York Stock Exchange.

The Pryor plant shutdown comes just a week after LSB reported a pipe rupture at a plant in Alabama that will cause ammonia production there to be stopped for several months. LSB earlier this year took the Pryor plant offline after finding excess heat on a pipe. It also reported an explosion at an Arkansas chemical plant.

Tony Shelby, chief financial officer, said the Pryor and Alabama plant shutdowns mean the company isn't currently producing much ammonia.

“In both cases, if we can get them back up shortly, it's a very strong market right now,” Shelby said. “The outlook for the longer term is also very positive because of lower natural gas prices.”

Continue reading this story on the...

by Paul Monies
Energy Reporter
Paul Monies is an energy reporter for The Oklahoman. He has worked at newspapers in Texas and Missouri and most recently was a data journalist for USA Today in the Washington D.C. area. Monies also spent nine years as a business reporter and...
+ show more


Trending Now


AROUND THE WEB

  1. 1
    Referees flag Chiefs safety Husain Abdullah for celebration penalty after slide and prayer in...
  2. 2
    Billy Crystal breaks down in tears during Robin Williams memorial
  3. 3
    Family asks for help finding hit-and-run driver
  4. 4
    Residents Voice Bridge Safety Concerns Near Lexington
  5. 5
    Found: Oklahoma police find missing 9-month-old & 6-year-old
+ show more