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 Completes Refinancing of Senior Credit Facility
Source Energy Services Ltd. has closed a new revolving asset-backed senior credit facility with a syndicate comprising FGI Worldwide LLC and CIT Northbridge Credit, as advised by CIT Asset Management LLC, providing access to financing of approximately C$75 million (US$55 million, and has made the Aug. 15, 2022, cash interest payment on its 10.5% senior secured first-lien notes due March…
Read MoreThis Week’s Market Buzz
• At press time, WTI Crude prices were up 3.17% at $113.69 per barrel and the international benchmark, Brent Crude, rose by 2.41% to $116.65.per 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 MoreSource Energy Services Makes Executive Appointment
Brad Thomson has elected to retire as president and chief executive officer and as a director of Source Energy Services Ltd. Scott Melbourn has been appointed president and chief executive officer and will be appointed as a member of the board.
Read MoreThis Week’s Market Buzz
• The North American benchmark price for oil surged at press time to more than $90 a barrel – its highest level since 2014. The March crude oil contract for West Texas Intermediate closed at $90.27 per barrel, up $2.01 per barrel, bolstered by geopolitical tensions and supply concerns.
Read MoreSource Energy Services Hits Record Sales Volumes
Source Energy Services Ltd. announced its 2021 third-quarter financial results, reporting that it sold 751,611 metric tonnes (MT) of sand and earned sand revenue of $79.3 million; achieved record daily and monthly sand sales volumes; and added a new direct exploration and production (E&P) customer during the quarter and another shortly after the end of the quarter.
Read MoreSource Energy Services Grows Market Share
Source Energy Services Ltd. said that for the three months ended June 30, the company grew market share in the Western Canadian Sedimentary Basin (WCSB), realizing sand sales volumes of 557,208 metric tonnes (MT) and sand revenue of $58.1 million
Read MoreSource Energy Services Announces Financial Results
Source Energy Services Ltd. announced its financial results for the three and 12 months ended Dec. 31, 2020.
Read MoreSource Energy Optimistic for Second Half of 2021
Source Energy Services Ltd., Calgary, Alberta, Canada, announced its financial results for the 12 months ended Dec. 31, 2020.
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