SMART SAND, INC. (NASDAQ:SND) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On December 12, 2017, Smart Sand, Inc. (the “Company”) entered into a multi-year Master Product Purchase Agreement (the “Agreement”) with WPX Energy Production, LLC (the “Buyer”).We expect that the buyer will begin purchasing frac sand under the Agreement in January 2018.The Agreement is structured as a take-or-pay agreement.
The above summary does not purport to be a complete description of the Agreement and is qualified in its entirety by the contents of the Agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.
About SMART SAND, INC. (NASDAQ:SND)
Smart Sand, Inc. is a producer of Northern White raw frac sand. The Company sells its products primarily to oil and natural gas exploration and production companies, and oilfield service companies. The Company owns and operates a raw frac sand mine and related processing facility near Oakdale, Wisconsin, at which it has approximately 244 million tons of proven recoverable sand reserves and approximately 92 million tons of probable recoverable sand reserves as of December 31, 2015, respectively. Its Oakdale facility is situated on approximately 1,196 contiguous acres, with on-site processing and rail loading facilities. Its integrated Oakdale facility, with on-site rail infrastructure and wet and dry sand processing facilities, is served by two Class I rail lines. In addition to the Oakdale facility, it owns a second property in Jackson County, Wisconsin, which it calls the Hixton site. Its Hixton site consists of approximately 959 acres in Jackson County, Wisconsin.
