August 27, 2016 2:22 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Emerge Energy Services LP

Company Overview

Emerge Energy Services LP acquires, owns, operates, and develops a portfolio of energy service assets in the United States. The company operates in two segments, Sand and Fuel. The Sand segment is involved in the production and sale of various grades of industrial sand primarily used in the extraction of oil and natural gas, as well as in the production of building products and foundry materials. The Fuel segment operates two terminals and two transmix processing facilities located in the Dallas-Fort Worth, Texas area, as well as in Birmingham, Alabama. This segment also engages in the sale of wholesale petroleum products; provision of third-party terminaling services; blending of renewable ...

180 State Street

Suite 225

Southlake, TX 76092

United States

Founded in 2012

Phone:

817-865-5830

Fax:

817-865-5900

Key Executives for Emerge Energy Services LP

Chief Executive Officer of Emerge Energy Services GP LLC, President of Emerge Energy Services GP LLC and Director of Emerge Energy Services GP LLC
Age: 65
Total Annual Compensation: $490.0K
Chief Financial Officer of Emerge Energy Services GP LLC
Age: 52
Total Annual Compensation: $213.2K
Vice President of Emerge Energy Services GP LLC and Director of Emerge Energy Services GP LLC
Age: 53
Total Annual Compensation: $210.0K
Compensation as of Fiscal Year 2015.

Emerge Energy Services LP Key Developments

Emerge Energy Services LP announced delayed 10-Q filing

On 08/10/2016, Emerge Energy Services LP announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Emerge Energy Seeks To Sell A New Class Of Its Limited Partner Interests

Emerge Energy Services LP (NYSE:EMES) is planning to sell $20 million of a new class of its limited partner interests to an institutional investor in a private placement. Emerge energy stated that, the Series A preferred units will initially be convertible into about 1.97m common units at the option of the holder or upon certain events. Series A units will be issued together with warrants to purchase about 0.89 million common units at an exercise price of $10.82 per common unit. Net proceeds from the offering may be used by the company to repay indebtedness or for general partnership purchases.

Emerge Energy Services LP Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Capital Expenditure Guidance for the Year 2016

Emerge Energy Services LP reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company’s revenues were $24,825,000 against $68,118,000 a year ago. Operating loss was $22,868,000 against income of $3,094,000 a year ago. Loss from continuing operations before provision for income tax was $28,149,000 against income of $774,000 a year ago. Net loss from continuing operations was $28,150,000 against income of $687,000 a year ago. Net loss was $22,897,000 against net income of $2,884,000 a year ago. Basic and diluted loss per common unit was $0.95 against basic and diluted earnings per common unit of $0.12 a year ago. Adjusted LBITDA was $10,683,000 against adjusted EBITDA of $16,968,000 a year ago. Capital expenditures were $6.1 million, which includes $264,000 of maintenance capital expenditures. Cash flows used in operating activities was $10,741,000 against cash flows from operating activities of $10,751,000 a year ago. Operating results improved for the quarter ended June 30, 2016, compared to the quarter ended March 31, 2016. This decrease in loss was primarily due to a $5.4 million write down of sand inventory. Basic and diluted loss per common unit from continuing operations were $1.17 against basic and diluted earnings per common unit from continuing operations of $0.03 earnings per share a year ago. LBITDA was $12,052,000 against EBITDA of $13,060,000 a year ago. For the six months, the company’s revenues were $54,495,000 against $164,362,000 a year ago. Operating loss was $52,696,000 against income of $14,846,000 a year ago. Loss from continuing operations before provision for income tax was $62,570,000 against income of $9,710,000 a year ago. Net loss from continuing operations was $62,591,000 against income of $9,442,000 a year ago. Net loss was $57,112,000 against income of $12,375,000 a year ago. Basic and diluted loss per common unit was $2.36 against basic and diluted earnings per common unit of $0.51 a year ago. Adjusted LBITDA was $20,196,000 against adjusted EBITDA of $45,382,000 a year ago. LBITDA was $33,789,000 against EBITDA of $32,394,000 a year ago. Cash flows used in operating activities was $13,032,000 against cash flows from operating activities of $39,913,000 a year ago. Basic and diluted loss per common unit from continuing operations were $2.59 against basic and diluted earnings per common unit from continuing operations of $0.39 earnings per share a year ago. The company has significantly cut back its capital expenditure plans for 2016 to include only those projects that are necessary for current operations and/or for which are contractually obligated, such as its hydrotreaters and payments on Self Suspending Proppant patents. The company currently expects its total capital expenditures for 2016 to be below $15 million.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
August 8, 2016
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