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Last €13.99 EUR
Change Today +1.64 / 13.24%
Volume 0.0
HCU On Other Exchanges
Symbol
Exchange
New York
As of 3:38 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Three Riverway

Suite 1550

Houston, TX 77056

United States

Phone: 713-960-4777

Fax: 713-963-0088

Hi-Crush Partners LP operates as a producer and supplier of monocrystalline sand, a specialized mineral that is used as a proppant to improve the recovery rates of hydrocarbons from oil and natural gas wells. The company’s reserves consist of ‘Northern White’ sand, a resource existing primarily in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates, and develops sand reserves and related excavation and processing facilities. The company owns and operates the Wyeville facility, which is located in Monroe County, Wisconsin. As of December 31, 2014, the company contained 75.5 million tons of proven recoverable reserves of frac sand meeting American Petroleum Institute specifications. The company also owns a 98.0% interest in the Augusta facility, which is located in Eau Claire County, Wisconsin. As of December 31, 2014, the company contained 45.0 million tons of proven recoverable reserves of frac sand meeting American Petroleum Institute specifications. The company operates through a logistics network of rail-served origin and destination terminals located in the Midwest near supply sources and strategically throughout Pennsylvania, Ohio, New York and Texas. As of December 31, 2014, the company leased or owned 2,721 railcars used to transport its sand from origin to destination and managed a fleet of approximately 4,500 additional railcars dedicated to its facilities by its customers or the Class I railroads. Wyeville Facility The company owns the Wyeville acreage. It operates two dryer facilities at the Wyeville facility with a combined nameplate input capacity, based on manufacturer specifications, of 250 tons per hour. Augusta Facility The company operates three dryer facilities at the Augusta facility with a combined nameplate input capacity, based on manufacturer specifications, of 400 tons per hour. Sponsor's Whitehall Facility During 2013, the company’s sponsor purchased land in Independence and Whitehall, Wisconsin, and in 2014 completed the construction of the Whitehall facility with a rated capacity of 2,600,000 tons of 20/70 frac sand per year. During 2014, the company purchased 494,206 tons from its sponsor's Whitehall facility. Destination Terminal Facilities As of December 31, 2014, the company operated 14 destination rail-based terminal locations throughout the Marcellus and Utica shales and the Permian basin. Its destination terminals include approximately 325,300 tons of rail storage capacity and it is in the process of expanding its silo storage capacity by approximately 70,000 tons, which would result in approximately 100,000 tons of silo storage capacity. Business Strategies The key elements of the company’s strategy include focusing on stable, long-term contracts with key customers; pursuing accretive acquisitions from its sponsor and third parties; expanding its proved reserve base and processing capacity; and expanding its distribution network. Customers The company’s contracted customer base includes eight of North America’s major providers of pressure pumping services or their subsidiaries. For the year ended December 31, 2014, sales to each of FTS International, LLC, Halliburton Company and Weatherford International Ltd. accounted for approximately 10% of its total revenues. Terminal Operations As of December 31, 2014, the company operated 14 destination rail-based terminal locations throughout Pennsylvania, Ohio, New York and Texas. Its terminals include rail-to-truck and, at its Minerva, Sheffield, Smithfield and Wellsboro locations, rail-to-storage capabilities. As of December 31, 2014, the company had the ability to store 41,600 tons of frac sand in its silos, with additional tons of capacity under construction and expected to be completed in 2015. Competition The company’s main competitors include U.S. Silica Holdings, Inc.; Unimin Corporation; Fairmount Minerals, Ltd.; Emerge Energy Services LP; and Badger Mining Corporation. Environmental and Occupational Safety and Health Regulation The company is subject to the requirements of the U.S. Occupational Safety and Health Act and comparable state statutes that regulate the protection of the health and safety of workers. Significant Events In May 2015, Hi-Crush Partners LP and ARB Midstream, LLC announced that the companies have entered into definitive agreements to jointly develop and operate two energy rail hubs, one in the DJ Basin and one in the Permian Basin. History Hi-Crush Partners LP was founded in 2010.

 

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HCU

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Valuation HCU Industry Range
Price/Earnings 6.6x
Price/Sales 1.4x
Price/Book 3.7x
Price/Cash Flow 5.4x
TEV/Sales 0.8x
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