March 02, 2015 10:07 AM ET

Metals and Mining

Company Overview of Hi-Crush Partners LP

Company Overview

Hi-Crush Partners LP produces and supplies monocrystalline sand in the United States. The monocrystalline sand is a mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. It owns, operates, and develops sand reserves and related excavation and processing facilities, which include a 751-acre facility with integrated rail infrastructure, located in Wyeville, Wisconsin; and the Augusta facility located in Eau Claire County, Wisconsin. The company offers raw frac sand used in hydraulic fracturing operations for oil and natural gas wells. It primarily serves pressure pumping service provides. Hi-Crush GP LLC operates as the general partner...

Three Riverway

Suite 1550

Houston, TX 77056

United States

Founded in 2012

Phone:

713-960-4777

Fax:

713-963-0088

Key Executives for Hi-Crush Partners LP

Co-Chief Executive Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC
Age: 57
Total Annual Compensation: $1.0
Co-Founder, Co-Chief Executive Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC
Age: 56
Total Annual Compensation: $1.0
Chief Financial Officer of Hi-Crush GP LLC and Chief Accounting Officer of Hi-Crush GP LLC
Age: 51
Total Annual Compensation: $219.2K
Chief Operating Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC
Age: 36
Total Annual Compensation: $1.0
General Counsel of Hi-Crush GP LLC and Secretary of Hi-Crush GP LLC
Age: 54
Total Annual Compensation: $183.3K
Compensation as of Fiscal Year 2014.

Hi-Crush Partners LP Key Developments

Hi-Crush Partners LP Presents at Credit Suisse Energy Summit 2015, Feb-23-2015

Hi-Crush Partners LP Presents at Credit Suisse Energy Summit 2015, Feb-23-2015 . Venue: Vail Cascade Resort & Spa, 1300 Westhaven Drive, Vail, Colorado, United States. Speakers: Robert E. Rasmus, Co-Chief Executive Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC.

Hi-Crush Partners LP Announces Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reaffirms Earnings Guidance for the Year 2015

Hi-Crush Partners LP announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $130,929,000 compared with $63,975,000 for the same period a year ago. These revenues were generated on sales of 1.5 million tons of frac sand and 82% increase over the same period last year, and a 26% sequential increase over the third quarter. Income from operations was $41,489,000 compared with $20,883,000 for the same period a year ago. Net income attributable to Hi-Crush Partners LP was $38,128,000 or $0.85 per basic and diluted share compared with $19,389,000 or $0.63 per basic and diluted share for the same period a year ago. EBITDA was $44,567,000 compared with $24,418,000 for the same period a year ago. Maintenance and replacement capital expenditures, including accrual for reserve replacement was $1,357,000 compared with $909,000 for the same period a year ago. Distributable cash flow was $40,871,000 compared with $22,172,000 for the same period a year ago. For the full year, the company reported revenues of $386,547,000 compared with $178,970,000 for the same period a year ago. Income from operations was $133,971,000 compared with $63,715,000 for the same period a year ago. Net income attributable to Hi-Crush Partners LP was $123,070,000 or $3.00 per diluted share compared with $19,389,000 or $2.08 per diluted share for the same period a year ago. EBITDA was $148,015,000 compared with $73,534,000 for the same period a year ago. These increases are the result of higher volumes sold and lower production costs as well as the integration of the distribution business purchased in mid 2013. Maintenance and replacement capital expenditures, including accrual for reserve replacement was $5,001,000 compared with $3,026,000 for the same period a year ago. Distributable cash flow was $135,093,000 compared with $67,339,000 for the same period a year ago. Cash flow from operating activities was $104,370,000 compared with $64,323,000 for the same period a year ago. The company plan to spend capex in the range of $30 million to $50 million in 2015. EBITDA guidance for 2015 unchanged for now. For the quarter, the company reported sand sold of 1,481,914 tons against 814,094 tons a year ago. Sand produced and delivered of 1,005,492 tons against 703,479 tons a year ago. For the full year, the company reported sand sold of 4,584,811 tons against 2,520,119 tons a year ago. Sand produced and delivered of 3,704,630 tons against 2,241,199 tons a year ago.

Hi-Crush Partners LP Declares Fourth Quarter Cash Distribution, Payable on February 13, 2015

Hi-Crush Partners LP declared its fourth quarter cash distribution of $0.675 per unit for all common and subordinated units, or $2.70 on an annualized basis. This amount corresponds to a 42% increase from the minimum quarterly cash distribution of $0.475 per unit and a 8% increase over the previous quarter's distribution. The distribution will be paid on February 13, 2015 to all common and subordinated unitholders of record on January 30, 2015.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 8, 2014
Hi-Crush Augusta LLC
 

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