Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 16,556 $ 17,282
Restricted cash 7,742 0
Inventories 12,653 8,883
Prepaid expenses 12,181 13,219
Other current assets 591 620
Total current assets 496,925 496,692
Property, plant and equipment, net 113,905 138,066
Sand reserves 58,528 61,830
Operating lease right-of-use assets 9,551 10,656
Intangible assets, net 913 1,782
Goodwill 9,214 11,717
Deferred income tax asset 1,844 0
Other non-current assets 7,599 3,935
Total assets 698,479 724,678
CURRENT LIABILITIES    
Accounts payable 27,508 47,391
Accrued expenses and other current liabilities 87,954 52,297
Current operating lease liability 5,771 5,447
Current portion of long-term debt 0 83,520
Income taxes payable 61,320 48,557
Total current liabilities 182,553 237,212
Long-term debt, net of current portion 42,809 0
Deferred income tax liabilities 628 471
Long-term operating lease liability 3,534 4,913
Asset retirement obligations 4,140 3,981
Other long-term liabilities 4,715 15,485
Total liabilities 238,379 262,062
COMMITMENTS AND CONTINGENCIES (Note 20)
Equity:    
Common stock, $0.01 par value, 200,000,000 shares authorized, 47,941,652 and 47,312,270 issued and outstanding at December 31, 2023 and 2022 479 473
Additional paid in capital 539,558 539,138
Accumulated deficit (76,317) (73,154)
Accumulated other comprehensive loss (3,620) (3,841)
Total equity 460,100 462,616
Total liabilities and equity 698,479 724,678
Nonrelated Party    
CURRENT ASSETS    
Accounts receivable, net 447,155 456,465
Receivables from related parties, net 447,155 456,465
CURRENT LIABILITIES    
Accrued expenses and other current liabilities 86,713 52,297
Related Party    
CURRENT ASSETS    
Accounts receivable, net 47 223
Receivables from related parties, net 47 223
CURRENT LIABILITIES    
Accounts payable 0 3
Accrued expenses and other current liabilities 1,241 0
Long-term debt, net of current portion $ 42,809 $ 0