Hi-Crush Partners LP announced that it has entered into a series of purchase agreements, including the acquisition of Permian Basin Sand Co. LLC from a third-party; the acquisition of the Whitehall facility from Hi-Crush Proppants LLC; and the acquisition of the remaining 2 percent additional interest in Hi-Crush Augusta LLC from Hi-Crush Proppants and additional properties located near the Whitehall…
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Hi-Crush Receives Safety Award
Hi-Crush Partners LP announced that it recently received a safety award for its exemplary safety record at its Augusta mine and processing facility. Hi-Crush was recognized at the Industrial Minerals Association – North America (IMA-NA) Annual Safety Recognition Awards Luncheon.
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Canadian National Railway (CN) reported a higher than expected net profit in the first quarter but said lower commodity shipments weighed on revenue and have prompted a downward revision to the company’s 2016 financial outlook. Its frac sand business was down 45 percent and coal was cut in half, accounting for 3.1 percent of total business, the lowest of any…
Read MoreHi-Crush Reports Financial, Production Results
Hi-Crush Partners LP reported fourth quarter and full-year 2015 results. The limited partners’ interest in net income was $11.2 million for the fourth quarter of 2015, resulting in basic and diluted earnings of $0.30 per limited partner unit.
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Dakota Plains Holdings Inc. reported that frac sand transloading volumes were 195,000 tons in the second quarter compared to 110,000 tons in the first quarter of 2015, a 78 percent increase. Revenue from frac sand transloading was $1.6 million for second quarter compared to $0.2 million for the second quarter 2014. The increase in revenue was due to the fact…
Read MoreHi-Crush Notes Market Conditions in Report
Hi-Crush Partners announced that the board of directors of its general partner has declared a cash distribution of $0.475 per unit on all common and subordinated units, or $1.90 on an annualized basis.
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A Texas based frac sand mining company is backing out of plans to develop a 1,600 acre mine and processing plant in Trempealeau County, Wis. Over the last year, Superior Silica Sands has been in the process of developing a plant between the cities of Independence and Arcadia. As part of the project, Independence annexed the property, but controversy about…
Read MoreHi-Crush Reports Record 2014 Results
Hi-Crush Partners reported record fourth quarter and full year 2014 results. Net income for the quarter was $38.4 million. The company reported earnings before interest, taxes and depreciation and amortization of $44.6 million for the fourth quarter of 2014.
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According to the latest PacWest Consulting Partners ProppantIQ market study, North America proppant consumption is expected to increase at 23 percent per annum through 2016, from 80 billion lb. in 2013 to 153 billion lb. in 2016, with much of the growth occurring in frac sand consumption. Growth in proppant consumption is driven by an increasing number of horizontal wells…
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Hi-Crush Partners LP announced the appointment of Jeffery A. Johnson as director of environmental compliance, with the responsibility for maintaining and administering the regulatory compliance programs for all Hi-Crush facilities. Johnson brings more than 15 years of experience to the company, with the majority working within the environmental regulatory programs at the Wisconsin Department of Natural Resources. Johnson will have…
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