Hi-Crush Partners LP Announces Addition to Alerian MLP Indices
March 12 2018 - 6:15PM
Hi-Crush Partners LP (NYSE:HCLP), or “Hi-Crush”, today announced
that following the close of business on March 16, 2018, Hi-Crush
will be added to both the Alerian MLP Index (AMZ) and the Alerian
MLP Equal Weight Index (AMZE), becoming one of the 50 constituents
of each of those indices.
“The addition of Hi-Crush to the AMZ and AMZE
indices is recognition of the prudent investments we have made over
the past few years, resulting in a stronger balance sheet and
providing Hi-Crush with the sustainable cash flow to support
meaningful distribution growth, while also executing on our
significant unit repurchase program,” said Laura C. Fulton, Chief
Financial Officer.
Hi-Crush previously announced that it expects to
increase its quarterly cash distribution by approximately 10% per
quarter for the foreseeable future, subject to periodic review and
market conditions. Hi-Crush also previously announced a $100
million unit repurchase program. Hi-Crush repurchased 2,030,163
common units during the fourth quarter of 2017, for a total cost of
$20.0 million under the authorized $100 million unit buyback
program.
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 is 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
Wisconsin production facilities' direct access to major U.S.
railroads enhances our delivery capabilities into consuming basins,
while our strategically located owned and operated in-basin
terminals as well as our Texas 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 logistics solution, efficiently delivers proppant the
"last mile" into the blender, providing customers surety of supply
from mine to wellsite. For more information, visit
www.hicrush.com.
Investor Relationsir@hicrush.com(713) 980-6270
Marc Silverberg, ICRmarc.silverberg@icrinc.com
Source: Hi-Crush Partners LP
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