Source Energy Services announced key achievements for the quarter ended Sept. 30: Strong customer activity levels in the Western Canadian Sedimentary Basin (WCSB), including new customers, contributed to the increase in sand sales volumes. The customer additions and strong activity levels also led to a third consecutive quarter of record volumes delivered for “last mile” logistics during the period. Utilization…
Read MoreTag: Western Canadian Sedimentary Basin
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…
Read MoreSource 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.
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 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 MoreThis 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…
Read MoreSource Energy Announces Recapitalization Transaction
Source Energy Services Ltd. has proposed a recapitalization transaction to provide the company with a stronger, long-term capital structure to withstand current industry challenges and build on its position as the largest frac sand provider in the Western Canadian sedimentary basin (WCSB).
Read MoreDi-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…
Read MoreSource 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…
Read MoreNew 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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