Last €27.58 EUR
Change Today -0.167 / -0.60%
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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. Assets and Operations The company owns and operates the Wyeville facility, which is located in Monroe County, Wisconsin, and as of December 31, 2013, contained 62.6 million tons of proven recoverable reserves of frac sand meeting API specifications. It also owns a preferred interest in its sponsor’s Augusta facility, which is located in Eau Claire County, Wisconsin, and as of December 31, 2013, contained 46.8 million tons of proven recoverable reserves of frac sand meeting API specifications. As of December 31, 2013, the company operated 12 destination rail-based terminal locations throughout the Marcellus and Utica shale basins and leased or owned 1,202 railcars used to transport its sand from origin to destination. Each terminal location is positioned in the Marcellus and Utica shale plays to facilitate its customers' operations. Its terminals include rail-to-truck and rail-to-storage capabilities and serve as the base for majority of its terminal resources and materials management services. The company’s terminal facilities include origin and distribution material staging areas, rail track capabilities, material handling equipment, private rail fleet, bulk storage, and quality assurance services. Customers The company’s contracted customer base includes subsidiaries of four of North America’s major providers of pressure pumping services. For the year ended December 31, 2013, its customers included FTS International, LLC; Halliburton Company; and Weatherford International Ltd. Business Strategies The company’s strategies 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; expanding its distribution network; capitalizing on compelling industry fundamentals; and maintaining conservative leverage. 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. Its safety program is designed to ensure compliance with the U.S. Mine Safety and Health Administration regulations. Competition The company’s major competitors include Badger Mining Corporation; Emerge Energy Services LP; Fairmount Minerals, Ltd.; Preferred Proppants LLC; Unimin Corporation; and U.S. Silica Holdings, Inc. History Hi-Crush Partners LP was founded in 2010.

 

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HCU

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Valuation HCU Industry Range
Price/Earnings 11.4x
Price/Sales 4.3x
Price/Book 8.0x
Price/Cash Flow 12.5x
TEV/Sales 3.8x
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