Hi-Crush Announces Integrated Agreement for Northern White Frac Sand with Chesapeake Energy
HOUSTON, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Hi-Crush Partners LP (NYSE: HCLP), or "Hi-Crush", today announced that it has entered into a new, long-term frac sand supply agreement for the in-basin purchase of Northern White frac sand to support Chesapeake Energy Corporation (“Chesapeake”) and their completions program in the Marcellus and Powder River Basins. In addition, Chesapeake will utilize one PropStream® container crew and related logistics with the option to expand based on demand.
“We are excited to reach an agreement to provide services to meet Chesapeake’s demand for Northern White frac sand and associated proppant logistics needs,” said Robert E. Rasmus, Chairman and Chief Executive Officer of Hi-Crush. “We believe this agreement affirms the value of our Mine. Move. Manage. operating strategy, as well as the ongoing demand for Northern White frac sand, the strength of our logistics network and our success in increasingly partnering with producer customers.”
Hi-Crush is a fully integrated, strategic provider of proppant and logistics solutions to the North American petroleum industry. We own and operate multiple frac sand mining facilities and in-basin terminals, and provide mine-to-wellsite logistics services that optimize proppant supply to customers in all major basins. Our PropStream® service, offering both container- and silo-based wellsite delivery and storage systems, provides the highest level of flexibility, safety and efficiency in managing the full scope and value of the proppant supply chain. Visit HiCrush.com.
Headquartered in Oklahoma City, Chesapeake Energy Corporation's (NYSE: CHK) operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States. The company also owns an oil and natural gas marketing business.
Hi-Crush Media Contact:
Director, Marketing and Corporate Communications
Hi-Crush Investor Contact:
Caldwell Bailey, Lead Investor Relations Analyst
Marc Silverberg, ICR
Chesapeake Media Contact:
Chesapeake Investor Contact:
Brad Sylvester, CFA
Source: Hi-Crush Partners LP
Hi-Crush Partners LP