Hunton Andrews Kurth is advising Hi-Crush (HCR) in its Chapter 11 filing. HCR filed its petition for Chapter 11 protection on July 12 in the Southern District of Texas, listing approximately $600 million in debt.
The filing follows HCR’s first quarter report in which it announced losses of approximately $145 million, citing the COVID-19 pandemic and a decline in oil prices as contributing factors.
HCR is an NYSE-listed provider of proppant and logistics services for hydraulic fracturing operations, offering frac sand production, advanced wellsite storage systems and flexible last mile services. The company is based in Houston.
The Hunton Andrews Kurth team advising HCR is led by partner Tad Davidson and associate Ashley Harper, along with associates Ian Goldberg, Andrew Blasio, Philip Guffy and Catherine Diktaban.