Balance Sheet

v3.25.0.1

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 60,967	$ 16,556
Restricted cash	21,359	7,742
Accounts receivable, net	79,020	447,202
Inventories	15,119	12,653
Prepaid expenses	1,780	1,931
Other current assets	10,342	10,841
Total current assets	188,587	496,925
Property, plant and equipment, net	115,082	113,905
Sand reserves, net	57,273	58,528
Operating lease right-of-use assets	6,417	9,551
Goodwill	9,214	9,214
Deferred income tax asset	0	1,844
Other non-current assets	7,458	8,512
Total assets	384,031	698,479
CURRENT LIABILITIES
Accounts payable	32,459	27,508
Accrued expenses and other current liabilities	33,940	87,954
Current operating lease liability	3,450	5,771
Income taxes payable	44,658	61,320
Total current liabilities	114,507	182,553
Long-term debt from related parties	0	42,809
Deferred income tax liabilities	3,021	628
Long-term operating lease liability	2,792	3,534
Asset retirement obligations	4,234	4,140
Other long-term liabilities	6,659	4,715
Total liabilities	131,213	238,379
COMMITMENTS AND CONTINGENCIES (Note 20)
Equity:
Common stock, $0.01 par value, 200,000,000 shares authorized, 48,127,369 and 47,941,652 issued and outstanding at December 31, 2024 and 2023	481	479
Additional paid in capital	540,431	539,558
Accumulated deficit	(283,643)	(76,317)
Accumulated other comprehensive loss	(4,451)	(3,620)
Total equity	252,818	460,100
Total liabilities and equity	384,031	698,479
Nonrelated Party
CURRENT LIABILITIES
Accrued expenses and other current liabilities	33,940	86,713
Related Party
CURRENT ASSETS
Accounts receivable, net	400	0
CURRENT LIABILITIES
Accrued expenses and other current liabilities	$ 0	$ 1,241

- Definition

Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Source