v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 59,944 $ 226,493 $ 217,006
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and accretion expense 102,207 41,634 28,617
Amortization expense of acquired intangible assets 12,316 0 0
Amortization of debt discount 3,573 761 457
Amortization of deferred financing costs 435 337 442
Loss on disposal of assets 19,672 0 0
Stock and unit-based compensation 22,381 7,409 678
Deferred income tax 15,002 29,201 (2)
Commodity derivatives gain 0 0 (1,842)
Settlements on commodity derivatives 0 0 2,137
Other (1,593) 139 293
Changes in operating assets and liabilities:      
Accounts receivable (13,105) 2,172 (44,207)
Accounts receivable - related party 0 868 (768)
Inventories (6,618) (835) (2,415)
Spare part inventories (4,739) (4,639) (4,239)
Prepaid expenses and other current assets 6,468 (9,959) (2,030)
Other long-term assets (644) (1,450) (6,549)
Accounts payable 22,854 5,198 7,881
Accounts payable - related parties (51) 123 (464)
Deferred revenue (2,468) 0 (2,000)
Accrued liabilities and other liabilities 20,826 1,575 13,017
Net cash provided by operating activities 256,460 299,027 206,012
Investing activities:      
Purchases of property, plant and equipment (373,983) (365,486) (89,592)
Hi-Crush acquisition, net of cash acquired (153,425) 0 0
Proceeds from insurance recovery 14,700 0 0
Net cash used in investing activities (512,708) (365,486) (89,592)
Financing Activities:      
Principal payments on term loan borrowings (14,383) (16,573) (28,544)
Proceeds from term loan borrowing 168,500 0 0
Proceeds from ABL credit facility 70,000 0 0
Issuance costs associated with debt financing (1,189) (4,397) (233)
Payments under finance leases (2,625) (2,001) (1,010)
Repayment of equipment finance notes (3,563) 0 0
Dividends and distributions (96,895) (62,163) 0
Taxes withheld on vesting RSUs (2,067) 0 0
Net proceeds from IPO 0 303,426 0
Payment of offering costs 0 (6,020) 0
Member distributions prior to IPO 0 (15,000) (45,024)
Prepayment fee on 2021 Term Loan Credit Facility 0 (2,649) 0
Net cash provided by (used in) financing activities 117,778 194,623 (74,811)
Net increase (decrease) in cash and cash equivalents (138,470) 128,164 41,609
Cash and cash equivalents, beginning of period 210,174 82,010 40,401
Cash and cash equivalents, end of period 71,704 210,174 82,010
Supplemental cash flow information      
Interest 38,469 15,210 14,904
Taxes 2,275 11,403 468
Supplemental disclosure of non-cash investing activities:      
Property, plant and equipment in accounts payable and accrued liabilities 37,294 44,381 23,298
Hi-Crush acquisition consideration, equity issuance 189,082 0 0
Hi-Crush acquisition consideration, Deferred Cash Consideration Note 106,613 0 0
Equipment assets acquired through debt 5,455 0 0
Redeemable noncontrolling interest cumulative adjustment to redemption value 0 185,412 0
Finance lease assets acquired through debt 0 39,454 0
Finance lease liabilities converted to debt $ 0 $ 42,795 $ 0

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