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Solaris Oilfield Infrastructure, Inc. (NYSE: SOI) delivers essential oilfield logistics solutions for modern drilling operations. This news hub provides investors and industry professionals with direct access to official announcements, strategic developments, and operational updates.
Our curated collection features press releases, earnings reports, and partnership announcements that impact SOI's position in energy infrastructure markets. Track innovations in mobile sand silo systems, supply chain optimizations, and multi-well pad efficiency improvements through primary source documents.
Regular updates ensure you stay informed about SOI developments affecting oilfield service economics, including equipment deployments and operational strategy shifts. Bookmark this page for streamlined access to verified information from the company's investor relations team and regulatory filings.
Solaris Energy Infrastructure, Inc. (NYSE:SEI), formerly Solaris Oilfield Infrastructure, Inc. (NYSE:SOI), has completed its acquisition of Mobile Energy Rentals (MER). The company has secured a $325 million senior secured term loan and is finalizing a $75 million revolving credit facility to support the acquisition and scale MER's distributed power fleet. These new credit agreements replace the previous $300 million secured bridge term loan facility.
Solaris has also rebranded to 'Solaris Energy Infrastructure, Inc.' and will begin trading under the new ticker symbol 'SEI' on September 12, 2024. The acquisition brings an experienced team, a highly-contracted base business, and growth opportunities in both oilfield and commercial/industrial sectors, including data centers. The company aims to deliver a growing and diversified cash flow stream, enhancing its ability to pursue adjacent growth opportunities and accelerate shareholder returns.
Solaris Oilfield Infrastructure (NYSE:SOI) announced that shareholders have approved all proposals related to its acquisition of Mobile Energy Rentals (MER) at a special meeting. The company expects to close the transaction in September 2024, subject to customary closing conditions. After the acquisition, Solaris plans to operate under the name 'Solaris Energy Infrastructure', offering combined and complementary services to customers. CEO Bill Zartler expressed satisfaction with the shareholder support for the pending acquisition. The final voting results will be reported in a Current Report on Form 8-K to be filed with the SEC.
Solaris Oilfield Infrastructure (NYSE:SOI) reported its Q2 2024 results, highlighting revenue of $74 million and net income of $10 million ($0.20 per diluted Class A share). The company generated $19 million in operating cash flow and $18 million in free cash flow. SOI announced a Q3 2024 dividend of $0.12 per share, payable on September 6, 2024. Notably, SOI entered an agreement to acquire Mobile Energy Rentals for approximately $200 million, expected to close in Q3 2024. The acquisition aims to diversify SOI into the distributed power market, potentially enhancing shareholder returns through new earnings streams and market access.
Solaris Oilfield Infrastructure (NYSE:SOI) has announced a quarterly cash dividend of $0.12 per share of Class A stock, payable on September 6, 2024 to holders of record as of August 23, 2024. A distribution of $0.12 per unit will also be made to Solaris unitholders. The company will host a conference call to discuss its second quarter 2024 results on Friday, August 9, 2024 at 8:00 a.m. Central Time. The earnings release will be issued after market close on August 8, 2024. Interested parties can join the call by dialing (844) 413-3978 from within the US or (412) 317-6594 from outside, referencing Solaris Oilfield Infrastructure.
Solaris Oilfield Infrastructure (NYSE: SOI) announced a $200 million agreement to acquire Mobile Energy Rentals (MER), involving $60 million in cash and 16.5 million Solaris Class B shares. Post-acquisition, MER's founders will own 27% of Solaris. The transaction will diversify Solaris' portfolio, emphasizing distributed power infrastructure, expected to comprise over 50% of its business. MER's EBITDA is projected at $50 million annually by Q3 2024, with plans to expand its power generation capacity from 153 MW to 478 MW by Q3 2025 with $308 million investment in turbines. Solaris will finance the acquisition through debt and cash flow, supported by a $300 million loan facility. The transaction is expected to close by Q3 2024, subject to regulatory approvals. Concurrently, Solaris will rename itself Solaris Energy Infrastructure (NYSE: SEI). Preliminary Q2 2024 financials estimate revenue between $70-75 million and Adjusted EBITDA at $20-21 million.
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