Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Tables)

v3.23.1
Related Party Transactions (Tables)
3 Months Ended
Mar. 31, 2023
Related Party Transactions [Abstract]  
Summary of Related Party Transactions

The following table summarizes revenue from related parties:

 

 

Three Months Ended
March 31,

 

 

 

 

2023

 

 

2022

 

 

Flying A

 

$

1.5

 

 

$

1.4

 

 

Carbo

 

 

0.7

 

 

 

0.2

 

 

Total

 

$

2.2

 

 

$

1.6

 

 

The following table summarizes expenditures with related parties:

 

 

Three Months Ended
March 31,

 

 

 

 

2023

 

 

2022

 

 

Automatize

 

$

43.3

 

 

$

14.3

 

 

FHE

 

 

0.9

 

 

 

3.2

 

 

Wilks Brothers

 

 

6.3

 

 

 

0.3

 

 

Related Lessors

 

 

2.5

 

 

 

1.2

 

 

Wilks Construction

 

 

4.9

 

 

 

0.9

 

 

Wilks Earthworks

 

 

1.5

 

 

 

 

 

Equify Financial

 

 

2.2

 

 

 

0.8

 

 

3 Twenty-Three

 

 

 

 

 

0.2

 

 

Carbo

 

 

0.7

 

 

 

 

 

Total

 

$

62.3

 

 

$

20.9

 

 

The following table summarizes accounts receivable–related party:

 

 

March 31,
2023

 

 

December 31,
2022

 

Flying A

 

$

3.2

 

 

$

1.5

 

Carbo

 

 

0.8

 

 

 

0.1

 

Interstate

 

 

0.4

 

 

 

0.3

 

Other

 

 

 

 

 

0.2

 

Total accounts receivable—related party

 

$

4.4

 

 

$

2.1

 

 

The following table summarizes accounts payable–related party:

 

 

March 31,
2023

 

 

December 31,
2022

 

Automatize

 

$

21.7

 

 

$

8.8

 

Wilks Brothers

 

 

8.7

 

 

 

7.1

 

Wilks Construction

 

 

8.4

 

 

 

7.9

 

Wilks Earthworks

 

 

0.7

 

 

 

 

Carbo

 

 

0.6

 

 

 

0.2

 

Total accounts payable—related party

 

$

40.1

 

 

$

24.0

 

On January 11, 2023, our board of directors approved the appointment of Mr. Coy Randle, our then Chief Operating Officer, to our board of directors. Additionally, Mr. Randle entered into a consulting agreement with us, effective as of January 13, 2023, pursuant to which Mr. Randle agreed to provide us with general operational advice for an annual fee of $0.2 million. Pursuant to the consulting agreement, we will also pay healthcare insurance premiums on behalf of Mr. Randle and will allow Mr. Randle to use a company vehicle for the duration of the consulting agreement. The consulting agreement has a term of one (1) year and will renew automatically for one (1) additional year unless either party notifies the other in writing at least sixty (60) days prior to the initial one (1) year termination date.