Hi-Crush Announces Integrated Agreement for Northern White Frac Sand with CNX Resources
28 Janeiro 2019 - 12:21PM
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 CNX Resources Corporation (“CNX”) and their completions
program in the Marcellus and Utica shales. In addition, CNX will
utilize one FB silo system and related logistics with the option to
expand based on demand.
“We are excited to begin our relationship with
CNX and further expand the base of E&P customers that we
serve,” said Robert E. Rasmus, Chairman and Chief Executive Officer
of Hi-Crush. “Our agreement with CNX to supply both Northern White
frac sand and related logistics services to their operations in the
Marcellus and Utica shales further demonstrates the value of
Hi-Crush’s integrated service offerings, and the continued demand
for Northern White frac sand. We look forward to working with CNX
to support their operations, and continuing to expand our
operations in the Northeast through execution on our Mine. Move.
Manage. operating strategy.”
“This is another example of CNX’s willingness to
push the envelope and shift a traditional paradigm when we see an
opportunity to do so,” commented CNX Chief Operating Officer Tim
Dugan. “We have typically sourced sand directly through our frac
vendor, but we saw an opportunity here with Hi-Crush to gain
efficiencies and improve our operations through integrated sand and
logistics services - and we took it. We’re excited about the
partnership.”
About Hi-CrushHi-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 oil and gas
basins in the United States. 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.
About CNX:CNX Resources
Corporation (NYSE: CNX) is one of the largest independent natural
gas exploration, development and production companies, with
operations centered in the major shale formations of the
Appalachian basin. CNX deploys an organic growth strategy focused
on responsibly developing its resource base. As of December 31,
2017, CNX had 7.6 trillion cubic feet equivalent of proved natural
gas reserves. CNX is a member of the Standard & Poor's Midcap
400 Index. Additional information may be found
at www.cnx.com.
Hi-Crush Media Contact:Steve
BellDirector, Marketing and Corporate Communications (713)
980-6225marketing@hicrush.com
Hi-Crush Investor
Contact:Caldwell Bailey, Lead Investor Relations
Analyst(713) 980-6270ir@hicrush.comMarc Silverberg, ICR
CNX Contact:Brian
AielloDirector of Communications & Corporate Social
Responsibility(724) 485-3078brianaiello@cnx.com
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