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Anchor contract for Solaris’ Oklahoma rail facility reduced
Solaris Oilfield Infrastructure received a $26 million partial termination payment from the primary customer of its frac sand transloading facility in Kingfisher, Oklahoma. The customer and Solaris amended their contract, triggering the payment. The revised contract reduces the minimum contracted annual revenue to $3.6 million beginning this March. When the 300-acre Kingfisher facility started service last January, Solaris said it was underpinned by a seven-year contract with a “leading STACK E&P operator,” but the amendment shortens the initial term to Dec. 31,......
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