HOUSTON (September 25, 2019) – Hi-Crush Inc. (NYSE: HCR), a leading provider of proppant and logistic services, has announced a strategic restructuring and rebranding.
Hi-Crush Inc., or HCR, will serve as the parent corporation for four specialized business units, each with its own area of expertise:
- Hi-Crush will uphold the company’s “performance under pressure” mindset – this division will continue to provide operators a high-quality proppant supply of Northern White or West Texas frac sand along with owned-andoperated terminals for reliable in-basin storage and delivery.
- Pronghorn combines the recent acquisition of Pronghorn Logistics with its former PropStream "last mile" services group to deliver fully-integrated proppant logistics and wellsite operations services with both silo and container systems.
- NexStage will supply advanced proppant storage equipment with innovative metering technology for superior volume accuracy, along with related equipment for safe, continuous, high-volume frac operations.
- PropDispatch is an advanced logistics software that streamlines the entire proppant supply and delivery process, including trucking dispatch and wellsite monitoring and management, for greater operational efficiency.
“This is not change for change’s sake,” said Robert E. Rasmus, chairman and chief executive officer of Hi-Crush Inc. “By allowing our business units to operate autonomously, we believe each group will be able to more effectively apply strategic solutions and align individual teams with their unique goals, ultimately to better meet the needs of our E&P and service company customers.”
Each business unit will be managed by an expert in their respective sector and will be able to draw upon the skills and resources of the integrated company.
About Hi-Crush Inc.
Hi-Crush Inc. is a fully integrated provider of proppant and logistics services for hydraulic fracturing operations, offering frac sand production, advanced wellsite storage systems, flexible last mile services, and innovative software for realtime management across the entire supply chain. Our strategic suite of solutions provides operators and service companies in all major U.S. oil and gas basins the ability to build safety, reliability and efficiency into every completion.