SND to terminate EQT PPA in 2025, signs new supply pact to 2027

Rhea-AI Filing Summary

Smart Sand, Inc. announced the mutual termination of its 2021 Master Product Purchase Agreement with EQT Production Company, effective December 31, 2025. The original pact was a take‑or‑pay agreement with a monthly capacity reservation charge.

On the same date, the parties entered into a new take‑or‑pay product purchase agreement in the ordinary course of business for Smart Sand to supply frac sand to EQT through 2027.

Insights

Energy services contracts analyst

Legacy EQT contract ends in 2025; new supply pact extends to 2027.

Smart Sand and EQT agreed to end a multi‑year Master Product Purchase Agreement effective December 31, 2025. The prior deal was take‑or‑pay with a monthly capacity reservation charge, indicating fixed commitments regardless of actual volumes.

Concurrently, they executed a new take‑or‑pay product purchase agreement to supply frac sand through 2027. This suggests continuity of the commercial relationship under updated terms.

Without specific volumes or pricing, financial impact cannot be gauged from the excerpt. Actual effects will depend on the new agreement’s commitments and reservation mechanics relative to the prior PPA.

8-K Event Classification

2 items: 1.02, 8.01

2 items

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Understanding 8-K Material Events →

FALSE000152962800015296282025-11-042025-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________________________________

FORM 8-K

________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2025

SMART SAND, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-37936

45-2809926

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1000 Floral Vale Boulevard, Suite 225

Yardley, Pennsylvania 19067

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (215) 795-7900

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of each exchange on which registered

Common Stock, $0.001 par value

SND

NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ 

Item 1.02 Termination of a Material Definitive Agreement.

On August 2, 2021, Smart Sand, Inc. (the “Company”) entered into a multi-year Master Product Purchase Agreement (the “ PPA”), effective August 1, 2021, with EQT Production Company, a subsidiary of EQT Corporation (“EQT”), a copy of which was originally filed with the Securities and Exchange Commission (“SEC”) in a Current Report on Form 8-K on August 4, 2021. The PPA is a take-or-pay agreement with a monthly capacity reservation charge. On November 4, 2025, Smart Sand and EQT mutually agreed to terminate the PPA, effective December 31, 2025.

Item 8.01 Other Events.

On November 4, 2025, the Company and EQT entered into a take or pay product purchase agreement in the ordinary course of business providing for Smart Sand to supply frac sand to EQT through 2027.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

SMART SAND, INC.

Dated:

November 7, 2025

By:

/s/ Lee E. Beckelman

Lee E. Beckelman

Chief Financial Officer

FAQ

What did Smart Sand (SND) announce regarding its EQT agreement?

Smart Sand and EQT mutually agreed to terminate their Master Product Purchase Agreement, effective December 31, 2025.

When does the termination of the prior EQT agreement take effect for SND?

The termination is effective December 31, 2025.

Did Smart Sand enter a new agreement with EQT?

Yes. They entered a new take‑or‑pay product purchase agreement for Smart Sand to supply frac sand to EQT through 2027.

What type of contracts are involved between SND and EQT?

Both the terminated PPA and the new agreement are take‑or‑pay arrangements.

How long does the new Smart Sand–EQT supply agreement run?

It provides for frac sand supply through 2027.

What product is covered under the new agreement between SND and EQT?

Frac sand supply from Smart Sand to EQT.