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LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free research report on Smart Sand, Inc. (NASDAQ: SND). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SND as the Company's latest news hit the wire. On March 21, 2018, the Company announced that it has entered into a multi-year Master Product Purchase Agreement (the Agreement) with a large exploration and production Company. The deal was in anticipation of its recent acquisition of the rights to a unit train capable transloading terminal in Van Hook, North Dakota. The financial details of the transaction remained undisclosed. The customer's name was also not announced. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Alexco Resource Corp. (NYSE AMER: AXU), which also belongs to the Basic Materials sector as the Company Smart Sand. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Smart Sand most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=SND
Agreement Structured as Take-or-Pay Agreement
The Agreement is structured as a take-or-pay agreement. The products will be sold through the newly-acquired Van Hook transloading terminal, which is expected to be operational in April 2018. The obligations under the Agreement will commence after the Van Hook facility is operational. As per the reports, post announcement of the news, the shares of the Company surged.
New Customer Relationship is Smart Sand's First Step in Expanding its Geographic and Product Delivery Footprint
Commenting on the Agreement, Charles Young, Chief Executive Officer (CEO) of Smart Sand, stated that the Company is happy to have an anchor contracted customer for its new Van Hook transloading terminal located in the Bakken. He believes that, over the long-term, many customers want a sand service Company that can not only provide high quality sand, but also offer efficient and cost-effective solutions for delivering that sand to the wellhead. Young added that the addition of its unit-train capable Van Hook terminal, along with the new customer relationship, is Smart Sand's first step in executing its initiative to expand its geographic and product delivery footprint.
Smart Sand's Acquisition of New Bakken Frac Sand Transloading Terminal
On March 16, 2018, the Company acquired the rights to operate a unit train capable transloading terminal in Van Hook, North Dakota, to service the Bakken Formation. Smart Sand paid a consideration of approximately $15.5 million to acquire certain assets at the Van Hook terminal, and entered into a long-term lease agreement in connection with the transaction. As part of this transaction, Smart Sand and Canadian Pacific entered into a long-term agreement to service Van Hook directly along with the other key oil and gas exploration and production basins of North America. The Company expects to have the Van Hook facility operational in April 2018. The new unit train capable terminal in Van Hook, North Dakota, would allow Smart Sand to continue growing its presence in the Williston Basin.
About Take-Or-Pay Contract
A take-or-pay contract requires the buyer to either purchase or receive a minimum amount of a product. The contract may require paying for this minimum without taking immediate delivery. The buyer incurs a penalty if the goods or services are not paid at the time. A take-or-pay agreement provides guaranteed revenues for the seller, even if the buyer decides against actually purchasing the goods or services. These contracts are frequently used in the energy and oil and gas businesses.
About Smart Sand, Inc.
Founded in 2012, Smart Sand is a leading supplier of industrial sand, primarily serving customers in the oil and gas industry, and is a pure-play, low-cost producer of high-quality Northern White raw frac sand. The Company owns and operates a raw frac sand mine and processing facility near Oakdale, Wisconsin, at which it currently has approximately 321 million tons of proven recoverable reserves.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, Smart Sand's stock declined 2.34%, ending the trading session at $5.85.
Volume traded for the day: 924.24 thousand shares, which was above the 3-month average volume of 820.86 thousand shares.
After yesterday's close, Smart Sand's market cap was at $239.21 million.
Price to Earnings (P/E) ratio was at 8.84.
The stock is part of the Basic Materials sector, categorized under the Industrial Metals & Minerals industry.
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