Hi-Crush – Oil & Gas 360

Atlas Energy Solutions Inc. to acquire Hi-Crush Inc., creating the largest proppant producer in the country and an industry leading logistics provider

February 27, 2024

Oil and Gas 360 AUSTIN, Texas–(BUSINESS WIRE)– Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today announced that it has entered into a definitive agreement with Hi Crush Inc. (“Hi-Crush”) to acquire all of Hi-Crush’s Permian Basin proppant production assets and North American logistics operations in a transaction valued at $450 million (1). The transaction consideration includes $150 million

CEO who profited as Hi-Crush spiraled departs as company exits bankruptcy

December 9, 2020

Reuters Robert Rasmus, the founder of oilfield services firm Hi-Crush Inc who profited as the business spiraled into bankruptcy, lost his positions at the firm in a recent restructuring, according to company postings. Rasmus was replaced as CEO last month by Dirk Hallen, former chief executive of oilfield firm Pronghorn Logistics, and was replaced as board chairman by Colin Leonard,

How a Texas shale supplier’s founders made fortunes as the firm failed

August 13, 2020

Reuters On July 7, the board of directors at Texas fracking sand supplier Hi-Crush granted nearly $3 million in bonuses to four top executives, including $1.35 million for CEO and founder Robert Rasmus. Five days later, the company declared bankruptcy. The payout marked the latest in a series of board decisions that allowed the oilfield supplier’s top executives and founders

Hi-Crush Reports Fourth Quarter and Full Year 2019 Results -oilandgas360

Hi-Crush Inc. Reports Fourth Quarter and Full Year 2019 Results

February 19, 2020

HOUSTON, Feb. 19, 2020 (GLOBE NEWSWIRE) — Hi-Crush Inc. (NYSE: HCR) (the “Company”), a fully-integrated provider of proppant logistics solutions, today reported fourth quarter and full year 2019 results. Revenues during the fourth quarter of 2019 totaled $125.5 million compared to $173.0 million during the third quarter of 2019.

After 70% Crash in Stocks, Some Frack-Sand Miners Looking Overseas

April 3, 2019

From Bloomberg For the last six years, Kevin Bowen has made good money selling sand to shale frackers who use it for drilling. It was hard not to. The industry has been booming in the oil fields of West Texas. But today the U.S. frack-sand industry is swimming in an excess of supply that has battered prices and cut the

Hi-Crush Reports Second Kermit Facility Completed On Time and Under Budget

January 7, 2019

Sand volumes down YOY and sequentially Frac sand producers are feeling the recent oil price decline, according to an update from Hi-Crush Partners (stock ticker: HCLP). Hi-Crush reports it sold 1.98 million tons of sand in Q4 2018, compared to 2.78 million tons in Q3 2018 and 2.99 million tons in Q4 2017. While Hi-Crush expected some decline in sand

Hi-Crush will Supply Northern White Frac Sand to Chesapeake’s Marcellus and PRB Ops

November 14, 2018

Chesapeake Energy (stock ticker: CHK) has signed up with Hi-Crush Partners LP (stock ticker: HCLP) for a new, long-term frac sand supply agreement for the in-basin purchase of Northern White frac sand to support Chesapeake’s completions program in the Marcellus and Powder River basins. Hi-Crush Partners announced a long-term contract with Chesapeake Energy to supply Northern White sand to Chesapeake’s Marcellus and

Hi-Crush Completes Buyout of General Partner

October 22, 2018

Hi-Crush Completes Buyout of General Partner and Declares Distribution of $0.225 per Unit for the Third Quarter of 2018

Texas Sand, Pipeline Constraints Dog Wisconsin Frac Mines

October 5, 2018

From the La Crosse Tribune A combination of competition and logistics snarls have led to the recent idling of Midwestern frac sand mines, but the slowdown may be temporary. Hi-Crush notified the state on Tuesday that 37 people will lose their jobs by Nov. 9 as a result of an unrelated shut-down of the Whitehall plant. “We have no choice

In-Basin Sand Mines are Sprouting Fast in Texas and Oklahoma

June 8, 2018

Locally sourced frac sand gets the job done at a discount Last week, Alpine Silica, a private supplier of frac sand, announced that it will open two new frac sand projects—one in Van Horn, Texas and the other in Fay, Oklahoma, further adding to its existing sand portfolio. Alpine estimates that the Oklahoma plant and the Van Horn facility will

Demand for Frac Sand is “Insatiable”: Hi-Crush CEO

May 2, 2018

Hi-Crush Partners LP (ticker: HCLP) reported a Q1 2018 net income of $53.1 million, or $0.59 per diluted share. Revenues for the quarter totaled $218.1 million on sales of 2,617,627 tons of frac sand. Capital expenditures in Q1 2018 were $11.9 million and the company estimates a full year CapEx of $35-$45 million. “We were successful in growing our financial

Hi-Crush Partners LP Appoints Chief Operating Officer

April 2, 2018

Hi-Crush Partners LP Appoints Scott J. Preston as Chief Operating Officer

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