Fracking Support Co. Hi-Crush Hits Ch. 11 To Cut $450M Debt

Law360 (July 13, 2020, 10:39 AM EDT) -- Hi-Crush Inc., which provides logistics support to natural gas drillers in the fracking space, filed for Chapter 11 protection late Sunday in Texas with an eye toward slashing $450 million of note debt in the next 90 days.

During a first-day hearing held Monday afternoon via phone and video conference, Hi-Crush attorney Keith A. Simon of Latham & Watkins LLP said the company has struggled in recent years as gas drillers have shifted their preference for frac sand, used in hydraulic fracturing operations to prop open underground fissures, from northern white sand to local sources.

According to Simon, the debtor operates...

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