Source Energy Services Ltd. has acquired RWR Trucking Inc.’s sand trucking assets for a combination of cash, vendor take back note and assumed lease obligations.
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Source Energy Service Touts First Quarter Results
Source reported that it made significant changes to the company’s balance sheet and cost structure in the first quarter of 2021. These initiatives put Source in a solid position to benefit from the return of completion activities in the Western Canadian Sedimentary Basin (WCSB).
Read MoreSource Energy Addresses Turmoil in the Oil and Gas Industry
Source Energy Services Ltd. reported preliminary results for the three months ended March 31. For the first quarter, Source achieved quarterly volumes of 762,322 metric tons and revenue between CAD$93 million and CAD$98 million for the quarter.
Read MoreSource Energy Reports Fiscal Results
Source Energy Services Ltd. announced its 2019 financial results and achievements.
Read MoreSource Energy’s Third Quarter Volumes Decrease
Source Energy Services Ltd. said that its sand sales volumes for the third quarter of 2018 were 726,000 metric tons. Approximately 94 percent of these sales were made through Source’s Canadian distribution network and the majority utilized Source’s last mile logistics services where Source delivered sand directly to customers’ well sites. This brings Source’s 2018 nine-month sales volumes to 2,182,000…
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• Source Energy Services Ltd. said that its sand volumes for the second quarter were 814,000 metric tonnes (MT), of which, approximately 85 percent were made through Source’s Canadian distribution network or at customers’ well sites. This brings Source’s 2018 six-month sales volumes to 1,456,000 MT, after selling 643,000 MT in the first quarter of 2018.
Read MoreSource Energy Opens First Unit-Train-Capable Delivery Terminal
Source Energy Services opened its first unit-train-capable delivery terminal for frac sand into the Western Canada Sedimentary Basin (WCSB) as companies deploy bigger fracs for higher results, according to the Alaska Highway News.
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Now that the price of oil has dropped by 50 percent or more – down to $45 a barrel on Sept. 18 – frac sand production in Wisconsin also has dropped by 50 percent, according to a report on Wisconsin Public Radio.
Read MoreWisconsin Town Sees Unabated Frac Sand Development Activity
Frac sand development activity in and around the town of Rice Lake, Wis., continues unabated, according to Rice Lake Online.
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