Smart Sand, Inc. Announces New Long-Term Proppant Supply Contract
August 02 2021 - 6:00PM
Smart Sand, Inc. (NASDAQ: SND) (the “Company”) announced today that
it has entered into a new multi-year Master Product Purchase
Agreement with EQT Production Company, a subsidiary of EQT
Corporation (“EQT”).
Under the new agreement, the Company will
continue to supply EQT with frac sand in the Appalachian Basin,
including at a new transloading terminal in southwestern
Pennsylvania that the Company intends to have in service by the end
of the year. The agreement has a three-year term, subject to
earlier termination if the new transloading terminal is not in
service by the end of 2021.
Charles Young, Smart Sand’s Chief Executive
Officer, stated, “We are extremely excited to be continuing our
long-term relationship with EQT, one of our oldest and most
reliable business partners. This new contract demonstrates our
continued commitment to provide long-term, sustainable sand supply
and logistics solutions to our customers. The Appalachian Basin is
a key market for Smart Sand. We continue to work to build out our
logistics capabilities, including this new terminal, to offer even
greater efficiency to our customers while also providing ESG
benefits by reducing trucking mileage and associated carbon
emissions related to sand delivery.”
Forward-looking Statements
All statements in this news release other than
statements of historical facts are forward-looking statements that
contain our Company’s current expectations about our future
results. We have attempted to identify any forward-looking
statements by using words such as “expect,” “will,”
“estimate,” “believe” and other similar expressions. Although
we believe that the expectations reflected and the assumptions or
bases underlying our forward-looking statements are reasonable, we
can give no assurance that such expectations will prove to be
correct. Such statements are not guarantees of future
performance or events and are subject to known and unknown risks
and uncertainties that could cause our actual results, events or
financial positions to differ materially from those included within
or implied by such forward-looking statements.
Factors that could cause our actual results to
differ materially from the results contemplated by such
forward-looking statements include, but are not limited to,
fluctuations in product demand, regulatory changes, adverse weather
conditions, increased fuel prices, higher transportation costs,
access to capital, increased competition, continued effects of the
global pandemic, changes in economic or political conditions, and
such other factors discussed or referenced in the “Risk Factors”
section of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2020, filed by the Company with the U.S.
Securities and Exchange Commission (“SEC”) on March 3,
2021, and in the Company’s Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021, filed by the Company with the SEC on
May 4, 2021.
You should not place undue reliance on our
forward-looking statements. Any forward-looking statement speaks
only as of the date on which such statement is made, and we
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, changed circumstances or otherwise, unless required
by law.
About Smart Sand
We are a fully integrated frac sand supply and
services company, offering complete mine to wellsite proppant
logistics, storage and management solutions to our customers. We
produce low-cost, high quality Northern White frac sand and offer
proppant logistics, storage and management solutions to our
customers through our in-basin transloading terminal and our
SmartSystems™ wellsite proppant storage capabilities. We
provide our products and services primarily to oil and natural gas
exploration and production companies and oilfield service
companies. We own and operate premium frac sand mines and related
processing facilities in Wisconsin and Illinois, which have access
to three Class I rail lines, allowing us to deliver products
substantially anywhere in the United States and Canada. For more
information, please visit www.smartsand.com.
Investor Contacts
Josh JayneDirector of Finance, Assistant Treasurer(281)
231-2660jjayne@smartsand.com
Lee BeckelmanChief Financial Officer(281)
231-2660lbeckelman@smartsand.com
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