Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Tables)

v3.7.0.1
Related Party Transactions (Tables)
3 Months Ended
Mar. 31, 2017
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
 
 
REVENUES
 
ACCOUNTS RECEIVABLE
 
 
Three Months Ended March 31,
 
At March 31,
At December 31,
 
 
2017
2016
 
2017
2016
Pressure Pumping and Gulfport
(a)
$
31,745,950

$

 
$
20,470,158

$
19,094,509

Muskie and Gulfport
(b)
11,540,419

1,918,078

 
8,109,288

5,373,007

Muskie and Taylor
(c)
35,732

2,456,676

 
20,193

70,470

Panther Drilling and Gulfport
(d)
1,042,377

451,875

 
1,732,263

1,434,036

Lodging and Grizzly
(e)
264

555

 
263

274

Bison Drilling and El Toro
(f)

371,873

 


Panther Drilling and El Toro
(f)

170,170

 


Bison Trucking and El Toro
(f)

130,000

 


White Wing and El Toro
(f)

20,431

 


Energy Services and El Toro
(g)
123,645


 
64,646

108,386

Barracuda and Taylor
(h)
170,914

10,261

 
58,227

199,413

MRI and Cementing
(i)
4,790


 
5,610

820

White Wing and Diamondback
(j)

1,650

 


Coil Tubing and SR Energy
(k)
29,250


 
47,850


Pressure Pumping and Cementing
(l)
9,970


 
26,593

950,678

Silverback and SR Energy
(m)
196


 
17,124

12,181

Panther and DBDHT
(n)
5,215


 
86,015

100,450

Other Relationships
 


 
2,503,069

715,341

 
 
$
44,708,722

$
5,531,569

 
$
33,141,299

$
28,059,565

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.
Lodging provides remote accommodation and food services to Grizzly, an entity owned approximately 75% by affiliates of Wexford and approximately 25% by Gulfport.
f.
The contract land and directional drilling segment provides services for El Toro, an entity controlled by Wexford, pursuant to a master service
agreement.
g.
Energy Services performs completion and production services for El Toro pursuant to a master service agreement.
h.
Barracuda receives fees from Taylor for the usage of its rail transloading facility.
i.
MRI provides iron inspection services to Cementing.
j.
White Wing provides rental services to Diamondback.
k.
Coil Tubing provides rental services to SR Energy.
l.
Pressure Pumping provides services and materials to Cementing.
m.
Silverback provides services and materials to SR Energy.
n.
Panther provides services and materials to DBDHT.
 
 
COST OF REVENUE
 
ACCOUNTS PAYABLE
 
 
Three Months Ended March 31,
 
At March 31,
At December 31,
 
 
2017
2016
 
2017
2016
Pressure Pumping and Taylor
(a)
$

$
2,665,992

 
$

$

Muskie and Taylor
(a)
7,554,380

799,545

 
4,056,830

2,119,084

Barracuda and Taylor
(b)
64,428

52,364

 
203,165

111,738

Panther and DBDHT
(c)
127,720

46,554

 
115,661


Bison Trucking and Diamondback
(d)
38,132

41,627

 
10,187


Energy Services and Elk City Yard
(e)
26,700

26,700

 


Barracuda and SR Energy
(f)
14,983

2,165

 

6,279

Stingray Entities and SR Energy
(g)
222,382


 
408,458

167,866

Lodging and Dunvegan
(h)


 

3,199

Bison Trucking and El Toro
(i)


 
79


 
 
$
8,048,725

$
3,634,947

 
$
4,794,380

$
2,408,166

 
 
 
 
 
 
 
 
 
SELLING, GENERAL AND ADMINISTRATIVE COSTS
 
 
 
Consolidated and Everest
(j)
$
55,367

$
72,324

 
$
16,798

$
12,668

Consolidated and Taylor
(k)
62,550

37,840

 


Consolidated and Wexford
(l)
227,739

34,705

 
109,065

13,197

Mammoth and Orange Leaf
(m)
29,510


 


Lodging and Dunvegan
(h)
2,551


 
886


 
 
$
377,717

$
144,869

 
$
126,749

$
25,865

 
 
 
 
 
$
4,921,129

$
2,434,031

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.
Stingray entities rent equipment from SR Energy.
h.
Dunvegan provides technical and administrative services and pays for goods and services on behalf of Lodging.
i.
Bison Drilling leases space from El Toro for storage of a rig.
j.
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.
k.
Taylor provides certain administrative and analytical services to the Company.
l.
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.
m.
Orange Leaf leases office space to Mammoth Inc.