Source Reports Highest Annual Revenue on Rise in Sand Volumes 

Source Energy Services Ltd. announced financial results for the three and 12 months ended Dec. 31, 2023. Highlights for the year ended Dec. 31, 2023 include the following: Total revenue for the year ended Dec. 31, 2023 was $569.7 million, Source’s highest annual revenue reported to date and an increase of $153.8 million compared to last year, as activity levels in…

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Source Energy Services Sand Revenue Increases 22%

Source Energy Services Ltd. announced its financial results for the three months ended March 3. Sustained strength in oil and gas commodity prices continued to buoy strong activity levels in the Western Canadian Sedimentary Basin (WCSB), generating $80.7 million of sand revenue, an increase of 22%, over the first quarter of 2021.

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This Week’s Market Buzz

• Oil touched its strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook. Markets broadly rallied after AstraZeneca Plc became the latest company to report a vaccine that protects most people from coronavirus. West Texas Intermediate for January delivery rose 1.5% to $43.04 a barrel; Brent…

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Di-Corp. Building Edmonton Terminal

Distribution company Di-Corp will start serving a new state-of-the-art frac sand terminal near Rocky Mountain House, Alberta, Canada, located southwest of Edmonton, in early 2015 to meet rising demand for frac sand in the Western Canadian Sedimentary Basin. Di-Corp of Edmonton is building the new 30-acre facility, which will have three tracks capable of holding 95 rail cars for unloading…

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Source Opens Storage, Rail Car Facility

Source Energy Services celebrated the opening of its frac sand production, storage, and rail car loading facility located in Weyerhaeuser, Wis. Several local officials attended the ribbon cutting and community appreciation event, including those from Barron County, the Village of Weyerhaeuser, and the Town of Sumner. The Weyerhaeuser facility complements the frac sand mine and processing facility operated by Source…

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New Sand Transloading Facility Opens in Canada

Evergreen Transloading and Superior Silica Sands LLC announced the opening of a new Mega Centre sand transloading facility in Sexsmith, Alberta, Canada. The Sexsmith Mega Centre will serve the strong demand for high quality, Northern White silica sand as proppant for the oil and gas industry in the Western Canadian Sedimentary Basin.

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