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HCLP > SEC Filings for HCLP > Form 8-K on 13-Nov-2012All Recent SEC Filings

Show all filings for HI-CRUSH PARTNERS LP



Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement.

In May 2012, Hi-Crush Operating LLC ("Hi-Crush"), a subsidiary of Hi-Crush Partners LP (the "Partnership"), entered into a supply agreement for frac sand with Baker Hughes Oilfield Operations, Inc. ("Baker Hughes"). On September 19, 2012, Baker Hughes provided notice that it was terminating the contract. The Partnership believes that Baker Hughes' termination was wrongful and a direct effort to circumvent its binding purchase obligations under the supply agreement. The Partnership engaged in discussions with Baker Hughes after receiving the notice, but the parties were unable to reach a mutually satisfactory resolution of the matter. On November 12, 2012, Hi-Crush formally terminated the supply agreement and filed suit in the State District Court of Harris County, Texas against Baker Hughes seeking damages for Baker Hughes' prior wrongful termination of the supply agreement. The Partnership intends to vigorously enforce its rights under the supply agreement against Baker Hughes. The Partnership cannot provide assurance, however, as to the outcome of this lawsuit.

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