Annual report [Section 13 and 15(d), not S-K Item 405]

Related Party Transactions (Tables)

v3.25.4
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Summary of Related Party Transactions

The following table summarizes revenue from related parties:

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Flying A

 

$

6.3

 

 

$

23.6

 

 

$

6.7

 

Carbo

 

 

—

 

 

 

—

 

 

 

0.7

 

Total

 

$

6.3

 

 

$

23.6

 

 

$

7.4

 

 

The following table summarizes expenditures with related parties:

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Logistix IQ

 

$

143.4

 

 

$

86.2

 

 

$

134.0

 

Flying A

 

 

2.8

 

 

 

—

 

 

 

—

 

FHE

 

 

—

 

 

 

—

 

 

 

3.3

 

Wilks Brothers (1)

 

 

7.5

 

 

 

9.1

 

 

 

19.2

 

Related Lessors

 

 

15.9

 

 

 

15.2

 

 

 

13.2

 

Wilks Construction

 

 

8.4

 

 

 

—

 

 

 

6.8

 

Wilks Earthworks

 

 

27.1

 

 

 

11.7

 

 

 

9.1

 

Equify Financial

 

 

18.1

 

 

 

10.2

 

 

 

8.7

 

3 Twenty-Three

 

 

—

 

 

 

—

 

 

 

1.3

 

Carbo

 

 

2.3

 

 

 

1.7

 

 

 

1.6

 

Total

 

$

225.5

 

 

$

134.1

 

 

$

197.2

 

The following table summarizes accounts receivable–related party:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Flying A

 

$

18.8

 

 

$

15.7

 

Wilks Construction

 

 

0.8

 

 

 

—

 

Interstate

 

 

0.3

 

 

 

0.4

 

Total

 

$

19.9

 

 

$

16.1

 

The following table summarizes accounts payable–related party:

 

 

December 31,

 

 

 

2025

 

 

2024

 

Logistix IQ

 

$

27.6

 

 

$

11.6

 

Wilks Brothers (1)

 

 

5.5

 

 

 

3.2

 

Wilks Earthworks

 

 

5.2

 

 

 

2.8

 

Related Lessors

 

 

0.1

 

 

 

0.1

 

Flying A

 

 

2.8

 

 

 

—

 

Carbo

 

 

1.0

 

 

 

0.4

 

Total

 

$

42.2

 

 

$

18.1

 

 

(1)
In 2025 the Company and Wilks Brothers agreed to settle the second, third and fourth quarter management fee payments under a service agreement in shares of common stock. The number of shares of common stock to be issued is calculated by dividing the management fee payment by the 10-day VWAP of common stock at the end of each quarter. Approximately $5.0 million of expenditures were recorded as stock-based compensation expense in 2025 related to this agreement.