Houston, Texas - May 5, 2014 - Hi-Crush Partners LP (HCLP), or Hi-Crush, today announced the entry into an amended and restated amendment to its supply agreement with Weatherford. The amendment significantly increases the annual committed volumes under the agreement signed in March and extends the term by two more years. In the supply arrangement, Weatherford shall pay a specified price for a specified minimum volume of frac sand each month.
"Weatherford has been an important partner with Hi-Crush since our inception, believing in our business model and growing with us. We are excited to further strengthen and expand our relationship with Weatherford by entering into this amendment," said James M. Whipkey, Co-Chief Executive Officer of Hi-Crush. "Weatherford`s increased commitment for volumes further underscores the demand for Hi-Crush sand as we bring on new production capacity this year."
About Hi-Crush
Hi-Crush is an integrated producer, transporter, marketer and distributor of high-quality monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. Our reserves, which are located in Wisconsin, consist of "Northern White" sand, a resource that exists predominately in Wisconsin and limited portions of the upper Midwest region of the United States. Hi-Crush owns and operates the largest distribution network in the Marcellus and Utica shales, and has distribution capabilities throughout North America. For more information, visit www.hicrushpartners.com.
HCLP for High Yield + Growth
HCLP for High Yield + Growth
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group