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.
Read MoreTag: frac sand
This Week’s Market Buzz
• Oil prices continue to rise. At press time West Texas Intermediate was at $110.6 up 4.43%, while Brent Crude was at $111.6, up 4.19%.
Read MoreThis Week’s Market Buzz
• Brent crude futures dipped 4 cents at press time to $107.55 a barrel after rising 2.1% in the previous session. U.S. West Texas Intermediate crude dropped 49 cents, or 0.5% to $104.87 a barrel.
Read MoreThis Week’s Market Buzz
• At press time, Brent futures were down 86 cents, or 0.8%, at $107.92 a barrel, while U.S. West Texas Intermediate futures were off $1.10 or 1.1%, at $103.15 a barrel.
Read MoreSource Energy Services Takes Over Peace River Facility
Source Energy Services Ltd. has entered into agreements with Canadian Silica Industries Inc. and Contractor’s Leasing Corp. (CSI), which will result in Source assuming all operations, distribution and sale of domestic frac sand from CSI’s Peace River facility.
Read MoreThis Week’s Market Buzz
• Oil prices edged higher at press time, still above $100 a barrel, but were set for a second straight weekly loss, after a volatile trading week with no easy replacement for Russian barrels in a tight market. Brent crude futures rose 38 cents, or 0.7%, to $107.02 a barrel. U.S. West Texas Intermediate (WTI) crude futures were up 77…
Read MoreMan Indicted for Frac Sand Ponzi Scheme
According to the U.S. Attorney’s Office, Western District of Texas a federal grand jury in Midland, Texas, returned an indictment charging a Keller, Texas, man with operating a Ponzi scheme.
Read MoreAthabasca Minerals Gets Rolling at Firebag
Athabasca Minerals Inc. (AMI) announced that mining and delivery of premium domestic sand from its Firebag resource north of Ft. McMurray has commenced. This product is in support of AMI’s partnership with Métis North Sand & Gravel and the contract announced on Dec. 20, 2021, with a major industry operator requiring approximately 1 million tonnes of filter sand.
Read MoreLiberty CEO Reflects on 2021, Looks Ahead to 2022
Liberty’s chief executive officer commented on the company’s 2021 performance and looked ahead to 2022.
Read MoreSelect Sands Provides Operations and Corporate Update
Select Sands Corp. reported that its pre-audit Q4 2021 frac and industrial unit sand sales were 94,670 tons, representing a 6% increase from Q3 2021 sales of 89,096 tons and a 79% increase from Q4 2020 53,009 tons.
Read More