Hi-Crush Partners LP (NYSE:HCLP) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
incorporated by reference herein.
filed with the Securities and Exchange Commission (the “SEC”) a
Current Report on Form 8-K (the “Initial 8-K”) disclosing that
the Partnership and Hi-Crush Augusta Acquisition Co. LLC
(“Acquisition Co.”) had entered into the Contribution Agreement
with Proppants to acquire all of the outstanding membership
interests in Hi-Crush Whitehall LLC (“Whitehall”), the remaining
2% outstanding equity interest in Hi-Crush Augusta LLC and all of
the outstanding membership interests in PDQ Properties LLC
(together the “Other Assets”) from Hi-Crush Proppants LLC
(“Proppants”). The Initial 8-K included the financial statements
of Whitehall and the pro forma financial information giving effect
to the acquisition of Whitehall and the Other Assets required by
Items 9.01(a) and 9.01(b) of Form 8-K. On March 15, 2017, the
Partnership completed the previously announced acquisition.
and control, the acquisition of all of the outstanding membership
interests in Whitehall and the Other Assets is considered a
transfer of net assets between entities under common control. As
such, the Partnership is required to recast its financial
statements to include the activities of Whitehall and the Other
Assets as of the date of common control. Exhibit 99.1, included in
this Current Report on Form 8-K, gives retroactive effect to the
acquisition of Whitehall and the Other Assets as if the Partnership
had owned them since their inception.
December 31, 2016 filed with the SEC on February 21, 2017 (the
“2016 Form 10-K”) is hereby recast by this Current Report on Form
8-K as follows:
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2016 Form 10-K (Exhibit 99.1)
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The Selected Financial Data included herein Exhibit 99.1
supersedes Part II, Item 6 of the 2016 Form 10-K |
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The Management’s Discussion and Analysis of Financial
Condition and Results of Operations included herein Exhibit 99.1 supersedes Part II, Item 7 of the 2016 Form 10-K |
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The Financial Statements and Supplementary Data included
herein supersedes Part II, Item 8 of the 2016 Form 10-K |
the 2016 Form 10-K, other than the revisions noted above. This
Current Report on Form 8-K should be read in conjunction with the
2016 Form 10-K and any references herein to Items 6, 7 and 8 under
Part II of the 2016 Form 10-K refer to Exhibit 99.1. As of the date
of this Current Report on Form 8-K, future references to the
Partnerships historical financial statements should be made to this
Current Report as well as future quarterly and annual reports on
Form 10-Q and Form 10-K, respectively.
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Exhibit Number
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Exhibit Description
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23.1
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Consent of PricewaterhouseCoopers LLP
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99.1
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Audited consolidated financial statements of Hi-Crush
Partners LP as of and for the years ended December 31, 2016 and 2015, including the notes thereto and the reports of the independent registered public accounting firm thereon |
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The financial statements and notes thereto included in
this Current Report on Form 8-K of Hi-Crush Partners LP formatted in eXtensible Business Reporting Language (XBRL) |
About Hi-Crush Partners LP (NYSE:HCLP)
Hi-Crush Partners LP is a producer and supplier of monocrystalline sand. The Company is a limited partnership formed to acquire selected sand reserves and related processing and transportation facilities of Hi-Crush Proppants LLC. It operates in Frac Sand Sales segment. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States. It owns, operates and develops sand reserves, and related excavation and processing facilities. Its 857-acre facility with rail infrastructure, located in Wyeville, Wisconsin (the Wyeville facility) contains approximately 82.1 million tons of proven recoverable reserves of frac sand meeting American Petroleum Institute (API) specifications. It also holds approximately 98% interest in Augusta facility, which is located in Eau Claire County, Wisconsin and contains over 40.9 million tons of proven recoverable reserves of frac sand meeting API specifications. Hi-Crush Partners LP (NYSE:HCLP) Recent Trading Information
Hi-Crush Partners LP (NYSE:HCLP) closed its last trading session up +0.25 at 14.40 with 2,211,760 shares trading hands.
