Solaris Goes From Frack Facility To IPO Market in Under 3 Years

By North American Shale magazine staff | May 11, 2017

To meet customer demand for its mobile frack sand supply units, Texas-based Solaris Oilfield Infrastructure has filed an initial public offering valued at $100 million. Funds from the IPO will be used to purchase new units, fund its capital program and for some general corporate purposes.

After forming in 2014, Solaris has expanded its mobile supply fleet from two to 33. “We have increased our total system revenue days, defined as the combined number of days our systems earned revenues, in nine of the last 10 quarters,” the company said in its securities and exchange commission filing. “The increase in total systems revenue days is attributable to both an increase in the number of systems available for rental and an increase in the rate at which our systems are utilized.”

Greg Garcia, executive vice president of sales and marketing for Solaris, said the units can provide triple the amount of sand storage on the well pad using only half the space as a normal operation. The silos are erected through electric generators and controlled by a single computer. Each system is fully enclosed, he added, in an effort to cut down on silica dust. In roughly three minutes, a unit can be set-up and multiple trucks can begin offloading sand into the silos for future use.

In 2014, the company purchased a manufacturing facility in Early, Texas, to design and build the mobile silo systems. By the end of the year, Solaris expects to have 64 systems in operations throughout the Permian Basin, the SCOOP/STACK and the Eagle Ford.