A Challenging Market with Partial Offsets Current Partial Challenges Offsets Lower completion activity as E&Ps Increasing sand intensity as companies operate with reduced capex budgets and pump more sand to generate superior well…
Taking Steps to Effectively Manage the Downturn Optimizing origin / destination pairings to minimize freight costs and efficiently Focusing on manage our railcar fleet Internal Temporarily idled Augusta to maximize production from our…
Maintaining Liquidity & Capital Flexibility Primary In April 2016, launched a primary offering of 6 million common units Common Raised 43.9 million in gross proceeds Unit Offering Underwritten offering Together, recent…
Latest Credit Facility Amendment Adds Flexibility Executed third amendment to revolving credit facility in April 2016 Pre-2017 Covenants: Eliminates EBITDA minimums through YE16, lowers 1Q17 covenant Equity Cure: Adds equity cure…
Leveraging Our Competitive Advantages Factor Our Position The Hi-Crush Advantage Four facilities, two Class- Top-tier supplier with operational Size & Scale 1 rail origins, 10.4 mm1 flexibility and ability to meet increasingly tons of…
Frac Sand Volumes in the Downturn Market share consolidation trend continues despite pressure on industry volumes Frac Sand Volumes by Quarter Frac Sand Volumes vs. Rigs 1Q15 1Q16 000s tons 1Q15 2Q15 3Q15 4Q15 1Q16 1 ,4 0 0…
Raw Frac Sand Market Share Northern White frac sand overwhelmingly largest component of the proppant market Frac Sand 92% of Proppant…
Strong Frac Sand Fundamentals Unchanged Greater frac sand intensity driven by multiple unchanged factors Targeting of Increased Factors Supporting an Eventual Shale & Horizontal Recovery Unconventional Drilling Longer Laterals…
Rig / Completion Rate Impact on Sand Demand1 Company XYZ Before After Rig Count of rigs 10 rigs -50% 5 rigs Rig Efficiency Days/well drilled 20 days +20% 16 days Rig Productivity Wells drilled/year/rig 18 wells Calculated 22 wells…
Incentivized Management Team Avista Capital Parters 61% 39% Management & LP Units Held by and Co-Investors Directors a Public 3/31/16: 63.2% Pro-forma 3: 68% Hi-Crush Proppants LP Units Held by LLC (Sponsor) b Sponsor 3/31/16:…
Hi-Crush Operations
Our Model Q1 2016 Operating Results Q1 2016 Sold FOB plant 59% direct to customer 41% FOB Plant In-Basin 1Q16 Sales Volumes: Sold at terminal to customer Sand delivered to 962,998 tons terminal via rail Terminal…
Hi-Crush Ranks Among Largest in Industry 1 10.4 million1 tons capacity in Wisconsin Largest production capacity of frac sand in Wisconsin 2 in World Second largest production capacity of frac sand in the world 1)…
Logistics Flexibility Critical Access to all major U.S. oil and gas basins Sponsors Whitehall Facility Direct loading and unloading of unit trains Multiple in-basin terminals across Marcellus and Utica Sandstone shales and one…
Efficient Railcar Management We continue to efficiently manage our railcar fleet Returned all system cars Railcar Pushed out new deliveries; 700 scheduled to be delivered over the next Management two years; weighted toward year-end…
Financial Results
Comparison to Prior Quarters and Prior Year in 000s, except per unit/ton Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Revenues 102,111 83,958 81,494 72,077 52,148 Adjusted EBITDA1 29,581 19,195 13,426 19,699 ( 10,952) Adjusted EPU…
First Quarter 2016 Summary Unaudited Condensed Consolidated Statements of Operations (Amounts in thousands, except per unit amounts) Three Months Ended March 31, 2016 2015 Revenues 52,148 102,111 Cost of goods sold (including…
First Quarter 2016 Summary EBITDA & DCF Unaudited EBITDA, Adjusted EBITDA and Distributable Cash Flow (Amounts in thousands) Three Months Ended March 31, 2016 2015 Reconciliation of distributable cash flow to net income (loss):…
Reconciliation of Adjusted Net Income & EPU Reconciliation of adjusted earnings per limited partner unit to the most directly comparable GAAP financial measure (Amounts in thousands, except per unit amounts) Three Months Ended…
Improved Liquidity and Financial Flexibility As of March 31, in 000s Pro-Forma1 2016 Cash 5,640 47,840 Revolver 52,500 52,500 Term loan2 190,391 190,391 Other notes payable 5,667 5,667 Total debt 248,558 248,558 Net debt…
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