Value investing message boards image Log on |  Join ($$) Stock market forums image VF "How To" Guide        Welcome, guest! Learn about guest access                       
ValueForum.com Home

HCLPHi-Crush Partners LP Resumes Distribution


 << previous next >>
 Post
 > New post - to everyone
 > New post - to private group
 Search
View 3/28 Daily Digest
View Private Post Inbox
Review Tracked Comments

Tip: use ALLCAPS for symbol search
 Keywords:  
 Period:  
-- Advanced Search Page --
-- Comment Search Page --
 Settings
 > Log on
 > What Is ValueForum?
 > Try ValueForum Today

symbol lookup » my portfolios »
Topic: Energy — Oil Sands
Oct. 17 2017, 5:02 PM ET - by VF member maxfactor (6 yellow star (click for information on feedback))

HCLPHi-Crush Partners LP Resumes Distribution --

34 minutes ago - DJNF
Hi-Crush Partners LP Resumes Distribution for the Third Quarter of 2017 and Announces Unit Buyback Program
HOUSTON, Oct. 17, 2017 (GLOBE NEWSWIRE) -- Hi-Crush Partners LP (NYSE:HCLP), or Hi-Crush or the Partnership, announced today that the Board of Directors of its general partner has declared a quarterly cash distribution of $0.15 per unit on all common units, or $0.60 on an annualized basis, for the third quarter of 2017. Separately, the Board of Directors also approved a unit buyback program of up to $100 million.

"The stabilization of market conditions, combined with strong demand for frac sand and logistics services has benefited our business," said Laura Fulton, Chief Financial Officer of Hi-Crush. "We prudently expanded our geographic reach and operational capabilities in response to continued strong customer demand, and our volumes and cash flow have improved markedly. With this in mind, our management, along with the Board of Directors, determined that the timing was appropriate to resume capital return to unitholders and to do so in two distinct ways. First, by reinstating cash quarterly distributions to unitholders, effective beginning the third quarter, payable in the fourth quarter of 2017. And second, by pursuing an opportunistic unit buyback on the open market of up to $100 million as authorized by our Board."

The buyback authorization is effective immediately, and the program will continue until otherwise modified or terminated by the Board of Directors in its sole discretion and without notice. The Partnership has authority at this time under its Term Loan and Revolving Credit Agreement for repurchases of up to $20 million which, over the near-term and combined with the initial quarterly distribution and its expected growth, is well-aligned with Hi-Crush's capital return intentions. The Partnership will seek consent allowing for the authorized amount of up to $100 million. The buyback program does not obligate the Partnership to repurchase any specific dollar amount or number of units and may be suspended or discontinued at any time.

"The third quarter cash distribution, augmented by the buyback program, reflects a thoughtful balance for our long-term capital return program and furthers our goal of maximizing value to our unitholders," said Robert E. Rasmus, Chief Executive Officer of Hi-Crush. "The proactive and prudent actions we took over the course of the industry downturn during the last two years, and the subsequent upturn in activity, have resulted in our ability to generate strong cash flow and positioned Hi-Crush to begin returning capital to unitholders. With this initial distribution, we are setting the foundation for sustainable and meaningful growth over the near and long term. We continue to see fundamentals for the frac sand industry improving and believe we are uniquely positioned to take advantage as we execute on our operational strategy of Mine. Move. Manage."

The distribution will be paid on November 14, 2017 to all common unitholders of record on October 31, 2017.

Distributions to Foreign Investors

The declaration of the distribution is intended to be a qualified notice to nominees under Treasury Regulation Section 1.1446-4(b), with 100% of the Partnership's distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.

About Hi-Crush

Hi-Crush is a premier provider of proppant and logistics solutions to the North American energy industry. Our portfolio of purpose-built production facilities are capable of producing 13.4 million tons per year of high-quality monocrystalline sand, a specialized mineral used as a proppant during the well completion process, necessary to facilitate the recovery of hydrocarbons from oil and natural gas wells. Our production facilities' direct access to major U.S. railroads enhance our delivery capabilities into consuming basins, while our strategically located owned and operated in-basin terminals as well as our in-basin production facility positions us within close proximity to significant activity in all major oil and gas basins for advantageous truck transportation. Our integrated distribution system, enhanced by our innovative PropStream(TM) logistics solution, efficiently delivers proppant the "last mile" into the blender, providing customers surety of supply from mine to well site. For more information, visit www.hicrush.com.

Forward-Looking Statements

Some of the information in this news release may contain forward-looking statements. Forward-looking statements give our current expectations, and contain projections of results of operations or of financial condition, or forecasts of future events. Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan, " "estimate," "anticipate," "could," "believe," "project," "budget," "potential," or "continue," and similar expressions are used to identify forward-looking statements. They can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Hi-Crush's reports filed with the SEC, including those described under 1A of Hi-Crush's Form 10-K for the year ended December 31, 2016 and any subsequently filed 10-Q. Actual results may vary materially. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and should not consider the risk factors in our reports filed with the SEC or the following list to be a complete statement of all potential risks and uncertainties. Factors that could cause our actual results to differ materially from the results contemplated by such forward looking statements include: the volume of frac sand we are able to sell; the price at which we are able to sell frac sand; the outcome of any pending litigation; changes in the price and availability of natural gas or electricity; changes in prevailing economic conditions; and difficulty collecting receivables. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. Hi-Crush's forward-looking statements speak only as of the date made and Hi-Crush undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or oth

Click To Add Your POPositive RecommendationITIVE Recommendation!   |  Currently: 
 59 positive

 << previous next >>

Looking for insight and analysis shared by fellow self directed investors? You've come to the right place! ValueForum is the web's best community forum for unvarnished, trusted, up-to-the-minute thinking on investments. What you just read is a "public post" but most posts including comments and replies, are available only to members.

Imagine walking into a secluded room where some of the smartest, most successful investors in America are gathered — self-directed investors and hedge fund managers alike — to share investing ideas.

In this private setting, members of this exclusive group are able to share honest opinions and unfiltered insights on stocks, bonds, ETFs, options, Forex and more. There's also a healthy amount of respectful debate as they bandy ideas about. And in the end, everyone is the richer for it.

That kind of exchange is exactly what happens every day here on ValueForum.com, the Internet's premier investing community.

Membership in this private online community is strictly limited — just 1500 investors will be admitted — but today you are in line to be one of them.

Before I tell you about all the member benefits waiting for you, I want to make one thing clear: ValueForum.com is nothing like the big free public investment boards out there.

We started ValueForum.com so that serious investors could get away from the noise, the shills and the shouting that plague public stock message boards.

That's why our community is founded on a few simple rules that keep the quality of our content and our members very high...

  • Privacy is paramount and confidentiality strictly enforced. Members are forbidden from sharing or reposting any members-only ValueForum.com content; violators forfeit membership.

  • Multiple aliases are not permitted (behind every screen name is a member profile so you can get to know your fellow members — and many have become lifelong friends).

  • No unsolicited or unauthorized advertising or product selling is allowed.

  • Robust debates are encouraged, but respect and common courtesy are expected with fighting and name-calling disallowed.

  • Violators forfeit membership.

And it works. As one of our long-time members explains:

"ValueForum gives you the chance to learn from people who aren't trying to sell you anything, just willing to give away their sincere thoughts. I have made a lot of money from information on VF."

So whether you are looking for new stock ideas or new ways to boost your investment income with REITs, BDCs, high-yield bonds, closed-end funds, you'll be thrilled at the constant flow of reliable ideas and analysis.

As another of our members going by the handle of oldart will tell you...

"No friend, no book, no broker, no advisor, no expert has ever provided a tenth what I am able to find here. The best money I have EVER spent is for membership."

WHAT YOU GET

Your ValueForum.com membership gives you unlimited access to:

  • A steady stream of top-notch investment ideas.

  • Invaluable insights and analysis on stocks, bonds, REITs, BDCs, and more.

  • Over 100 message board topics to help you focus on the areas that interest you most.

  • The chance to share your investment ideas and have them thoroughly vetted by your ValueForum peers before you make a move.

  • The ValueForum.com stock rating system with more than 1,000 rated stocks.

And yet another member (known on ValueForum as "beetlebomb") tells all willing to listen:
"The cost of ValueForum is a pittance compared to the benefits you will receive. If you are a serious investor who is tired of being fleeced by the Wall Street crowd, I highly recommend you join VF on a trial basis and experience its benefits first hand."

The best way to see what ValueForum.com can do for you is to let you take it for a test drive.

That's why we're offering a special one week "guest pass" that lets you experience the full force of ValueForum.com for just $7.

$7 for access to a new investing tool that can be truly life changing. It was for this member, who goes by "stlbeerman"

" VF has really changed my life and made me more wealthy than I ever expected."

It's lively and engaging, but like Las Vegas, what goes on inside ValueForum stays inside ValueForum — the public post you just read is the exception, not the norm. See for yourself before our remaining memberships are claimed and it's too late!

You can get started now with your seven day guest pass (just $7) if you'd like, or, grab a 3, 6, or 12 month pass here.

Get Started Now image

"Value Forum is literally the best web site on the Internet for investors bar none. It's a real time collection of news, experiences, data sharing, opinions that you can never get from bigger sites like TheStreet.com or Motley Fool. It allows you to gather multiple opinions you can never get from speaking to a stock broker or their analysts."
--bonddadddy

As seen in:



Ranked: Forbes best of the web

"Best investment I ever made."
--PhillyJoe

"I have made a lot of money from ideas exchanged on this forum. I would recommend VF to any serious investor, and I will never be without it."
--tankerat

Try It Now image

"Unbelievably board and deep industry knowledge."
--MtnTopTradr

"Our retirement has been a financial success due entirely to Value Forum."
--newby

"The very best investing board in the country whether your profile is high risk/high reward all the way to conservative/adverse to risk & volatility. This is a monitored board where civility & helpfulness rule."
--ronstaug

Start your test drive image



Email / About | Privacy | Terms of Use | How To / FAQ | Msg Ticker | VF Home | My.vf | BDCs.vf | Energy.vf | REITs.vf | TA.vf
 
Nothing in ValueForum.com is intended to be investment advice, nor does it represent the opinion of, counsel
from, or recommendations by ValueForum.com. ©2003 - 2024, Powered in part by Ticker TechnologiesContact Us

HCLPHi-Crush Partners LP Resumes Distribution