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Vista Proppants and Logistics Files for IPO


Vista Proppants and Logistics (VPROP), a leading provider of frac sand solutions in Texas and Oklahoma, filed with the SEC to raise up to $100 million in an initial public offering.

The Fort Worth, Texas-based company was founded in 2017 and booked $221 million in sales for the 12 months ended Sept. 30, 2017. It plans to list on the Nasdaq under the symbol VPRL. VPROP filed confidentially on Aug. 14, 2017. No pricing terms were disclosed.

VPROP is the nation's largest pure-play, in-basin provider of frac sand solutions in prolific producing regions in Texas and Oklahoma including the Permian Basin, Eagle Ford Shale and SCOOP/STACK, the company said.

VPROP offers leading E&P and oilfield service companies high-quality, fine grade white sand with the cost advantages of a regional provider. Through its vertically integrated logistics network of transload terminals and fleet of "last mile" transport vehicles, VPROP's customers further benefit from our mine-to-wellhead frac sand supply chain solutions and assured security of supply.

"We produce high-quality, fine-grade 40/70, and 100 mesh sand," the company said. "Marketed as 'Texas Premium White,' our sand compares favorably to that mined in Wisconsin and Illinois and meets applicable industry specifications and customer requirements for a large addressable market of wells. We believe the low overburden, homogenous geology, and strategic location of our mines near major rail lines and large water and power sources provide us with a cost advantage over other Texas-based sand mines. At the same time, the proximity of our mines to active oil and gas plays enables significantly lower logistics costs as compared to northern white sand providers. Our rail infrastructure offers access to all major rail carriers in North America, which provides the logistical flexibility our customers require. We believe these advantages, along with our proprietary transload network, not only assure lower cost, but also increase security of supply from mine-to-wellhead."