Annual report pursuant to Section 13 and 15(d)

Related Party Transactions (Tables)

v3.6.0.2
Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Transactions between the subsidiaries of the Company and the following companies are included in Related Party Transactions: Gulfport; Grizzly Oil Sands ULC (“Grizzly”); Taylor Frac LLC (“Taylor”); El Toro ("El Toro"); Stingray Cementing, LLC ("Cementing"); Diamondback E&P, LLC ("Diamondback"); Stingray Energy Services, LLC ("SR Energy"); Everest Operations Management, LLC ("Everest"); Elk City Yard, LLC ("Elk City Yard"); Double Barrel Downhole Technologies, LLC ("DBDHT"); Orange Leaf Holdings LLC ("Orange Leaf"); Caliber Investment Group, LLC ("Caliber"); and Dunvegan North Oilfield Services ULC (“Dunvegan”).
 
 
REVENUES
 
ACCOUNTS RECEIVABLE
 
 
Years Ended December 31,
 
At December 31,
 
 
2016
2015
2014
 
2016
2015
Pressure Pumping and Gulfport
(a)
$
102,389,505

$
124,311,189

$
12,635,148

 
$
19,094,509

$
16,218,713

Muskie and Gulfport
(b)
25,783,253

38,181,970

3,133,822

 
5,373,007

6,801,548

Muskie and Taylor
(c)
2,540,050

335,252

111,398

 
70,470

128,834

Panther Drilling and Gulfport
(d)
3,011,259

3,703,140

8,302,362

 
1,434,036

973,873

Energy Services and Gulfport
(e)

2,548,418

1,473,094

 

547,570

Lodging and Grizzly
(f)
5,412

941,552

3,809,538

 
274

906

Bison Drilling and El Toro
(g)
371,873

521,121


 


Panther Drilling and El Toro
(g)
171,619

192,485

989,484

 


Bison Trucking and El Toro
(g)
130,000

144,905


 


White Wing and El Toro
(g)
20,431

12,719


 


Energy Services and El Toro
(h)
530,477

168,356


 
108,386


Barracuda and Taylor
(i)
452,378

122,131


 
199,413

11,818

MRI and Cementing
(j)
820

8,973


 
820

8,973

White Wing and Diamondback
(k)
1,650



 


Coil Tubing and El Toro
(l)
318,694



 


Coil Tubing and SR Energy
(m)
18,600



 


Pressure Pumping and Cementing
(n)
7,364



 
950,678

198,076

Silverback and SR Energy
(o)
11,356



 
12,181

193,064

Panther and DBDHT
(p)
157,940



 
100,450


Panther and Diamondback
(q)


168,673

 


Bison Drilling and Diamondback
(q)


232,299

 


Bison Trucking and Diamondback
(q)


3,176,607

 


Energy Services and Pressure Pumping
(r)


47,216

 


Muskie and Pressure Pumping
(s)


6,245,323

 


Other Relationships
 



 
715,341

560,406

 
 
$
135,922,681

$
171,192,211

$
40,324,964

 
$
28,059,565

$
25,643,781


a.
Pressure Pumping provides pressure pumping, stimulation and related completion services to Gulfport.
b.
Muskie has agreed to sell and deliver, and Gulfport has agreed to purchase, specified annual and monthly amounts of natural sand proppant, subject to certain exceptions specified in the agreement, and pay certain costs and expenses.
c.
Taylor, an entity under common ownership with the Company and managed by the Company, has purchased natural sand proppant from Muskie. Natural sand proppant is sold to Taylor at a market-based per ton arrangement on an as-needed basis.
d.
Panther Drilling performs drilling services for Gulfport pursuant to a master service agreement.
e.
Energy Services performs completion and production services for Gulfport pursuant to a master service agreement.
f.
Lodging provides remote accommodation and food services to Grizzly, an entity owned approximately 75% by affiliates of Wexford and approximately 25% by Gulfport.
g.
The contract land and directional drilling segment provides services for El Toro, an entity controlled by Wexford, pursuant to a master service agreement.
h.
Energy Services performs completion and production services for El Toro pursuant to a master service agreement.
i.
Barracuda receives fees from Taylor for the usage of its rail transloading facility.
j.
MRI provides iron inspection services to Cementing.
k.
White Wing provides rental services to Diamondback.
l.
Coil Tubing provides El Toro services in connection with completion activities.
m.
Coil Tubing provides rental services to SR Energy.
n.
Pressure Pumping provides services and materials to Cementing.
o.
Silverback provides services and materials to SR Energy.
p.
Panther provides services and materials to DBDHT.
q.
The contract land and directional drilling segment performed drilling services and sold or leased goods, equipment or facilities to Diamondback to a master service agreement.
r.
Prior to the acquisition of the Stingray Entities, Energy Services rented equipment from Pressure Pumping.
s.
Prior to the acquisition of the Stingray Entities, Muskie sold natural sand proppant to Pressure Pumping.
 
 
COST OF REVENUE
 
ACCOUNTS PAYABLE
 
 
Years Ended December 31,
 
At December 31,
 
 
2016
2015
2014
 
2016
2015
Pressure Pumping and Taylor
(a)
$
4,256,832

$
2,685,202

$
1,029,974

 
$

$
17,552

Muskie and Taylor
(a)
20,586,715

20,510,977

867,428

 
2,119,084

6,505,833

Barracuda and Taylor
(b)
255,029

81,039


 
111,738

26,720

Panther and DBDHT
(c)
48,998

101,206

250,322

 

48,998

Bison Trucking and Diamondback
(d)
169,886

165,951

112,330

 

12,077

Energy Services and Elk City Yard
(e)
106,800

106,800


 


Barracuda and SR Energy
(f)
30,722



 
6,279


Stingray Entities and Taylor
(g)

32,261


 

32,261

Stingray Entities and SR Energy
(h)
679,550

932,896

42,545

 
161,065

12,208

Lodging and Dunvegan
(i)
8,574

71,980

116,805

 
3,199

304,746

Bison Drilling and El Toro
(j)
5,000



 


Silverback and SR Energy
(k)
13,701



 
6,801


Muskie and Everest
(l)


1,969,439

 


Bison Drilling and Everest
(l)


218,589

 


Muskie and Hopedale
(m)
2,455


453,080

 


 
 
$
26,164,262

$
24,688,312

$
5,060,512

 
$
2,408,166

$
6,960,395

 
 
 
 
 
 
 
 
 
 
SELLING, GENERAL AND ADMINISTRATIVE COSTS
 
 
 
Consolidated and Everest
(l)
$
251,122

$
495,320

$
2,297,106

 
$
12,668

$
28,528

Consolidated and Taylor
(n)
160,622

287,403


 


Consolidated and Wexford
(o)
380,551

381,070

457,771

 
13,197

9,006

Mammoth and Orange Leaf
(p)
102,515

49,892


 


Pressure Pumping and Caliber
(q)

24,306


 


 
 
$
894,810

$
1,237,991

$
2,754,877

 
$
25,865

$
37,534

 
 
 
 
 
 
$
2,434,031

$
6,997,929

a.
Taylor, an entity under common ownership with the Company and managed by the Company, sells natural sand proppant to Muskie and Pressure Pumping. Natural sand proppant is sold to Muskie at a market-based per ton arrangement on an as-needed basis to supplement sand provided by its facility (when in operation) if any orders placed by its customers are not able to be readily fulfilled, either because of volume or specific grades of sand requested.
b.
From time to time, Barracuda pays for goods and services on behalf of Taylor.
c.
Panther rents rotary steerable equipment in connection with its directional drilling services from DBDHT.
d.
Bison Trucking leases office space from Diamondback in Midland, Texas. The office space is leased through early 2017.
e.
Energy Services leases property from Elk City Yard.
f.
From time to time, Barracuda rents equipment from SR Energy.
g.
The Stingray Entities utilizes Taylor's transload facility.
h.
Pressure Pumping rents equipment from SR Energy.
i.
Dunvegan provides technical and administrative services and pays for goods and services on behalf of Lodging.
j.
Bison Drilling leases space from El Toro for storage of a rig.
k.
Silverback rents equipment from SR Energy.
l.
Everest has historically provided office space and certain technical, administrative and payroll services to the Company and the Company has reimbursed Everest in amounts determined by Everest based on estimates of the amount of office space provided and the amount of employees’ time spent performing services for the Company. In 2014, Everest provided personnel to support operational functions in addition to significant technical and advisory support.
m.
Muskie utilizes Hopedale's transload facility.
n.
Taylor provides certain administrative and analytical services to the Company.
o.
Wexford provides certain administrative and analytical services to the Company and, from time to time, the Company pays for goods and services on behalf of Wexford.
p.
Orange Leaf leases office space to Mammoth Inc.
q.
Caliber leases office space to Pressure Pumping.