August 24, 2016 9:21 PM 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 857-acre facility with integrated rail infrastructure, located in Wyeville, Wisconsin; and the Augusta facility situated 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 providers. Hi-Crush GP LLC operates as the general partn...

Three Riverway

Suite 1350

Houston, TX 77056

United States

Founded in 2012

Phone:

713-980-6200

Fax:

713-963-0088

Key Executives for Hi-Crush Partners LP

Chief Executive Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC
Age: 59
Total Annual Compensation: $1.0
Chief Financial Officer of Hi-Crush GP LLC and Chief Accounting Officer of Hi-Crush GP LLC
Age: 53
Total Annual Compensation: $225.0K
Chief Operating Officer of Hi-Crush GP LLC and Director of Hi-Crush GP LLC
Age: 38
Total Annual Compensation: $1.0
General Counsel of Hi-Crush GP LLC and Secretary of Hi-Crush GP LLC
Age: 56
Total Annual Compensation: $187.5K
Vice President of Hi-Crush GP LLC
Age: 43
Total Annual Compensation: $107.5K
Compensation as of Fiscal Year 2015.

Hi-Crush Partners LP Key Developments

Hi-Crush Partners Seeks Acquisitions

Hi-Crush Partners LP (NYSE:HCLP) is seeking acquisitions. Hi-Crush in its prospectus filing said, "Unless otherwise indicated to the contrary in an accompanying prospectus supplement, we will use the net proceeds from the sale of the securities covered by this prospectus for general partnership purposes, which may include debt repayment, future acquisitions, capital expenditures and additions to working capital."

Hi-Crush Partners LP Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Announces Goodwill Impairment for the Second Quarter Ended June 30, 2016; Provides Capital Expenditures Guidance for the Full Year of 2016

Hi-Crush Partners LP reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenues of $38,429,000 against $83,958,000 a year ago. Loss from operations was $6,997,000 against income from operations of $14,427,000 a year ago. Net loss attributable to company was $10,891,000 against net income attributable to company of $11,450,000 a year ago. Basic and diluted loss per unit common and subordinated units was $0.26 against basic and diluted earnings per unit common and subordinated units of $0.31 a year ago. LBITDA was $3,442,000 against EBITDA of $19,195,000 a year ago. Adjusted LBITDA was $3,442,000 against adjusted EBITDA of $19,195,000 a year ago. Maintenance and replacement capital expenditures, including accrual for reserve replacement was $655,000 against $1,120,000 a year ago. Distributable cash flow attributable to limited partner unitholders was negative $6,245,000 against positive of $16,650,000 a year ago. For the six months, the company reported revenues of $90,577,000 against $186,069,000 a year ago. Loss from operations was $54,967,000 against loss from operations of $41,598,000 a year ago. Net loss attributable to company was $62,385,000 against net income attributable to company of $35,135,000 a year ago. Diluted loss per unit common and subordinated units was $1.57 against diluted earnings per unit common and subordinated units of $0.91 a year ago. LBITDA was $48,139,000 against EBITDA of $48,776,000 a year ago. Adjusted LBITDA was $14,394,000 against adjusted EBITDA of $48,776,000 a year ago. Maintenance and replacement capital expenditures, including accrual for reserve replacement was $1,418,000 against $2,379,000 a year ago. Distributable cash flow attributable to limited partner unitholders was negative $20,072,000 against positive of $41,554,000 a year ago. Cash flow used in operating activities was $5,004,000 against cash flow from operating activities of $58,027,000 a year ago. Net debt was $155,500,000. For the second quarter, the company reported goodwill impairment was $33.7 million. The Partnership maintained its guidance for capital expenditures in the range of $15 million to $20 million for the full year of 2016, of which $11.4 million was spent in the first six months of the year, primarily for the completion of distribution terminal facilities in Colorado and Texas.

Hi-Crush Partners LP to Report Q2, 2016 Results on Aug 02, 2016

Hi-Crush Partners LP announced that they will report Q2, 2016 results Pre-Market on Aug 02, 2016

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 10, 2016
Hi-Crush Blair LLC
 

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