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News Releases
Source Energy Services Reports 2024 AGM Results
Source Energy Services Ltd. (“Source” or the “Company”) reports results from its annual meeting shareholder held May 10, 2024.
Source Energy Services Reports Q1 2024 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three months ended March 31, 2024.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its first quarter financial results for the period ending March 31, 2024, will be released following the Toronto Stock Exchange market close on May 9, 2024.
Source Energy Services Announces Acquisition of Sand Trucking Assets
Source Energy Services Ltd. (“Source”) is pleased to announce that it has acquired RWR Trucking Inc.’s (“RWR”) sand trucking assets for a combination of cash, vendor take back note, and assumed lease obligations.
Source Energy Services Reports Q4 2023 and Year End Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and twelve months ended December 31, 2023.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its fourth quarter financial results for the period ending December 31, 2023, will be released following the Toronto Stock Exchange market close on Wednesday, March 6, 2024.
Source Energy Services Reports Q3 2023 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and nine months ended September 30, 2023.
Source Energy Services Reports Q2 2022 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and six months ended June 30, 2022.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its third quarter financial results for the period ending September 30, 2023, will be released following the Toronto Stock Exchange market close on November 8, 2023.
Source Energy Services Reports Q2 2023 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and six months ended June 30, 2023.
Source Energy Services Reports Q1 2023 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three months ended March 31, 2023.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its second quarter financial results for the period ending June 30, 2023, will be released following the Toronto Stock Exchange market close on August 2, 2023.
Source Energy Services Reports 2023 AGM Voting Results
Source Energy Services Ltd. (“Source” or the “Company”) reports results from its annual meeting of shareholders held May 5, 2023 (the “Meeting”).
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its first quarter financial results for the period ending March 31, 2023, will be released following the Toronto Stock Exchange market close on May 4, 2023.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its third quarter financial results for the period ending September 30, 2022, will be released following the Toronto Stock Exchange market close on November 8, 2022.
Source Energy Services Reports Q4 2022 and Year End Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and twelve months ended December 31, 2022.
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its fourth quarter financial results for the period ending December 31, 2022, will be released following the Toronto Stock Exchange market close on March 8, 2023.
Source Energy Services Reports Q3 2022 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and nine months ended September 30, 2022.
Source Energy Services Completes Refinancing of Senior Credit Facility, Amends Senior Secured Note Indenture and Makes the Payment of Cash Interest
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) is pleased to announce it has closed a new revolving asset backed senior credit facility (the “ABL”) with a syndicate comprised of FGI Worldwide LLC (“FGI”) and CIT Northbridge Credit, as advised by CIT Asset Management LLC (“CIT”), providing access to funding of approximately CAD $75 million (USD $55 million), and has made the August 15, 2022 cash interest payment on its 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”).
Source Energy Services Update on Refinancing Process and Extension of the Waiver from Lenders under its Credit Agreement
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announces that it continues to make progress and is now in the final stages of closing the previously announced senior credit facility.
Source Energy Services Update on Refinancing Process and Receipt of Waiver of Cross Default from Lenders under its Credit Agreement
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announces that it is in the advanced stages of closing a new USD $60 million senior credit facility.
Source Energy Services Provides an Update on the Credit Facility Refinancing and Announces Decision to Utilize Interest Payment Grace Period
Source Energy Services (“Source” or the “Company”) announced today that it has made significant progress on the previously announced refinancing of its ABL and Term Loan (the “Credit Facility”) and expects the refinancing to close on or before August 31, 2022. In conjunction with the refinancing and to facilitate an efficient closing, the Company has elected to utilize the 30-day grace period (the “Grace Period”) under the indenture governing its 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”).
Source Energy Services Announces Receipt of Lender Waiver and Payment of Cash Interest
Source Energy Services Ltd. (“Source” or the “Company”) announced today that it has successfully concluded its discussions with the syndicate of lenders under its senior secured credit facility (the “Credit Facility”) and obtained a waiver from such lenders to permit the Company to make the payment of cash interest on the Company’s outstanding 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”).
Source Energy Services Announces Upcoming Earnings Release
Source is pleased to announce that its second quarter financial results for the period ending June 30, 2022, will be released following the Toronto Stock Exchange market close on July 27, 2022.
Source Energy Services Reports Q1 2022 Results
Source Energy Services Ltd. is pleased to announce its 2022 first quarter financial results.
Source Energy Services Announces Decision To Utilize Interest Payment Grace Period
Source Energy Services Ltd. (“Source” or the “Company”) announced today that it has elected to utilize the 30-day grace period (the “Grace Period”) under the indenture governing its 10.5% senior secured first lien notes due March 15, 2025 (the “Senior Notes”).
Source Energy Services Reports 2022 AGM Voting Results
Source Energy Services Ltd. reports results from its 2022 annual meeting of shareholders held on May 6, 2022.
Source Energy Services Announces Upcoming Earnings Release and Annual General Meeting
Source Energy Services Ltd. (“Source”) is pleased to announce that its first quarter financial results for the period ending March 31, 2022, will be released following the Toronto Stock Exchange market close on Thursday, May 5, 2022.
Source Energy Services Enters into a Transaction with Canadian Silica Industries to Assume Operation of its Peace River Frac Sand Facility
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce that it has entered into agreements (the “Transaction”) with Canadian Silica Industries Inc. and Contractor’s Leasing Corp. (collectively, “CSI”) which will result in Source assuming all operations, distribution, and sale of domestic frac sand from CSI’s Peace River facility.
Source Energy Services Reports Q4 2021 and Year End Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and twelve months ended December 31, 2021.
Source Energy Services Announces the Retirement of Brad Thomson and the Appointment of Scott Melbourn as President and Chief Executive Officer
The Board of Directors of Source Energy Services Ltd. (“Source” or the “Company”) announced today that Mr. Brad Thomson has elected to retire as President and Chief Executive Officer and as a director of the Company. Mr. Scott Melbourn has been appointed President and Chief Executive Officer and will be appointed as a member of the Board.
Source Energy Services Announces Appointment of Scott Melbourn as Director
The Board of Directors of Source Energy Services Ltd. (“Source”) announced today that Mr. Scott Melbourn has been appointed as a member of the Board of Directors of Source to fill the vacancy created by the resignation of Mr. Brad Thomson.
Source Energy Services Reports Q3 2021 Results
Source Energy Services Ltd. is pleased to announce its 2021 third quarter financial results.
Source Energy Services Announces Changes to its Board of Directors and Upcoming Earnings Release
Source Energy Services Ltd. (“Source” or the “Company”) announces changes to its Board of Directors and upcoming Earnings Release.
Source Energy Services Announces Upcoming Earnings
Source Energy Services Ltd. (“Source”) is pleased to announce that its third quarter financial results for the period ending September 30, 2021, will be released following the Toronto Stock Exchange market close on Thursday, November 4, 2021.
Source Energy Services Comments on Trading Activity
Source Energy Services Ltd. (“Source” or the “Company”) is issuing this press release in response to a request from the Investment Industry Regulatory Organization of Canada (“IIROC”) to comment on the recent trading activity of its stock.
Source Energy Services Reports Q2 2021 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its 2021 second quarter financial results.
Source Energy Services Reports 2021 AGM Voting Results
Source Energy Services Ltd. (“Source” or the “Company”) reports results from its annual meeting of shareholders held May 7, 2021 (the “Meeting”).
Source Energy Services Announces Upcoming Earnings Release and Annual General Meeting
Source Energy Services Ltd. (“Source”) is pleased to announce that its first quarter financial results for the period ending March 31, 2021, will be released following the Toronto Stock Exchange market close on Wednesday, May 5, 2021. Source also wishes to announce that its 2021 Annual Meeting of Shareholders (the “AGM”) will be held on Friday, May 7, 2021.
Source Energy Services Announces Contracts with Two Key E&P Companies Operating in the Montney
Source Energy Services Ltd. (“Source”) is pleased to announce that it has entered into a new contract with Pipestone Energy Corp. (“Pipestone”) and has extended and expanded its relationship with a major Montney Producer.
Source Energy Obtains Court Approval of its Recapitalization Transaction
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) obtains court approval of its Recapitalization Transaction.
Source Energy Services Reports Q4 2020 and Year End Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its financial results for the three and twelve months ended December 31, 2020.
Source Energy Services Reports Q1 2021 Results and Other Matters
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its 2021 first quarter financial results.
Source Energy Services Announces Upcoming Earnings
Source Energy Services Ltd. (“Source”) is pleased to announce that its second quarter financial results for the period ending June 30, 2021, will be released following the Toronto Stock Exchange market close on Wednesday, July 28, 2021.
Source Energy Services Announces Upcoming Earnings Release
Source Energy Services Ltd. (“Source”) is pleased to announce that its fourth quarter financial results for the period ending December 31, 2020, will be released following the Toronto Stock Exchange market close on March 18, 2021.
Source Completes Recapitalization Transaction
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) is pleased to announce the completion of its recapitalization transaction.
Source Energy Noteholders and Shareholders Overwhelmingly Approve Recapitalization Transaction
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announced today that Noteholders and Shareholders overwhelmingly approve Recapitalization Transaction.
Source Energy Services Provides Update on its Recapitalization Transaction and its Plan of Arrangement
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) provides update on its Recapitalization Transaction and its Plan of Arrangement.
Source Energy Announces Recapitalization Transaction with Substantial Support of Key Stakeholders
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announced today a proposed recapitalization transaction designed 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.
Source Energy Services Reports Q3 2020 Results
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce its 2020 third quarter financial results.
Source Energy Services Announces Strong Noteholder Support for its Recapitalization Transaction and an Extension of the Noteholder Early Consent Date to November 23, 2020
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) announces strong noteholder support for its Recapitalization Transaction and an extension of the Noteholder Early Consent Date to November 23, 2020.
Source Energy Services Obtains Interim Order and Announces Meeting Details in Connection with Recapitalization Transaction
Source Energy Services Ltd. (together with its affiliates, “Source” or the “Company”) obtains Interim Order and announces meeting details in connection with Recapitalization Transaction.
Source Energy Services Obtains Further Liquidity Support From its Noteholders and Lenders
Source Energy Services Ltd. (together with its affiliates, “Source”) is pleased to announce that it has entered into an additional Support and Interest Deferral Agreement with noteholders holding approximately 74% of Source’s senior secured notes due December 15, 2021 (the “Notes”).
Source Energy Services Announces Upcoming Earnings Release
Source Energy Services Ltd. (“Source”) announces upcoming earnings release.
Source Energy Services Obtains Further Liquidity Support From its Noteholders and Lenders
Source Energy Services Ltd. (together with its affiliates, “Source”) is pleased to announce that it has entered into an additional Support and Interest Deferral Agreement with noteholders.
Source Energy Services Reports Q2 2020 Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2020 second quarter financial results.
Source Energy Services Reports Q1 2020 Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2020 first quarter financial results.
Source Energy Services Reiterates Postponement of Earnings Release
Source Energy Services Ltd. (“Source”) reiterates postponement of earnings release.
Source Energy Services Obtains Liquidity Support From its Noteholders and Lenders
Source Energy Services Ltd. ("Source") obtains liquidity support from its noteholders and lenders.
Source Energy Services Announces Preliminary Q1 Results, Operational Update, and Postponement of Earnings Release and Annual General Meeting
Source Energy Services Ltd. (“Source”) announces preliminary Q1 results, operational update, and postponement of earnings release and Annual General Meeting.
Source Energy Services Announces Upcoming Earnings Release and Annual General Meeting Dates
Source Energy Services Ltd. (“Source”) announces upcoming earnings release and Annual General Meeting dates.
Source Energy Services Reports Q4 2019 and Year End Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2019 financial results and achievements.
Source Energy Services Announces Supply Agreement with Seven Generations Energy, Banking Amendment, Capital Budget for 2020 and Insurance Update
Source Energy Services Announces Supply Agreement with Seven Generations Energy, Banking Amendment, Capital Budget for 2020 and Insurance Update
Source Energy Services Fourth Quarter Financial Results Call
Source Energy Services Ltd. (“Source”) will hold a conference call to discuss Source’s fourth quarter financial results. The call has been scheduled for 7:30 am MT (9:30 am ET) on Friday, March 6, 2020.
Source Energy Services Reports Q3 2019 Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2019 third quarter financial results.
Source Energy Services Second Quarter Financial Results Call
Source Energy Services Ltd. (“Source”) will hold a conference call to discuss Source’s second quarter financial results. The call has been scheduled for 7:30 am MT (9:30 am ET) on Friday, August 2, 2019.
Source Energy Services Third Quarter Financial Results Call
Source Energy Services Ltd. (“Source”) will hold a conference call to discuss Source’s third quarter financial results. The call has been scheduled for 7:30 am MT (9:30 am ET) on Friday, November 8, 2019.
Source Energy Services Reports Q2 2019 Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2019 second quarter financial results.
Source Energy Services Reports AGM Voting Results
Source Energy Services Ltd. (“Source”) reports director election results from its annual meeting of shareholders held May 2, 2019.
Source Energy Services Reports Q1 2019 Results
Source Energy Services Ltd. (“Source”) is pleased to announce its 2019 first quarter financial results.
Source Energy Services Announces Changes to its Board of Directors, Fourth Quarter Operational Update and Other Matters
Source Energy Services Ltd. ("Source" or the "Company") announces changes to its Board of Directors.
Source Energy Services Announces Corporate Update
Source Energy Services Ltd. (“Source”) is pleased to announce its most current Corporate Update is now available on its website, www.sourceenergyservices.com, under ‘Investors - Presentations’.
Source Energy Services Announces Corporate Update
Source Energy Services Ltd. ("Source") is pleased to announce its most current Corporate Update is now available on its website under 'Investors - Events and Presentations'.
Source Energy Services Files Updated NI 43-101 Technical Reports for its Mineral Projects in Wisconsin, United States
Source Energy Services Ltd. (“Source” or the “Company”) is pleased to announce that it has filed with the applicable Canadian securities regulatory authorities updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical reports for each of its three mineral projects in Wisconsin, United States (collectively, the “Technical Reports”).
Source Energy Services Announces TSX Approval of Amended Normal Course Issuer Bid
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Source's application to amend its previously approved Normal Course Issuer Bid ("NCIB") to purchase approximately 1% of its outstanding common shares for cancellation through the facilities of the TSX.
Source Energy Services Reports Q4 2018 and Year End Results, Amendment to Normal Course Issuer Bid and Other Matters
Source Energy Services Ltd. (“Source”) is pleased to announce its 2018 financial results and achievements.
Source Energy Services Reports Q3 Results and Amendment to Normal Course Issuer Bid
Source Energy Services Ltd. ("Source") is pleased to announce its 2018 third quarter results.
Source Energy Services Announces Sand Sales Volumes for its Third Quarter and Upcoming Earnings Release Date
Source Energy Services Ltd. ("Source") announced that its sand sales volumes for the third quarter of 2018 were 726,000 metric tonnes ("MT").
Source Energy Services Announces New Duvernay Agreement That Will Support Expansion of Fox Creek Terminal
Source Energy Services Ltd. ("Source") announced today it has entered into a three-year agreement with a multinational exploration and production company to provide Northern White frac sand for its Duvernay program.
Source Energy Services Announces Agreement with Strath Resources Ltd.
Source Energy Services Ltd. ("Source") announced today it has entered into a three-year agreement with Strath Resources Ltd. ("Strath") to provide Strath with Northern White proppant and related logistics services, for its Kakwa area Montneywells.
Source Energy Services Announces Normal Course Issuer Bid
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Source's notice of intention to implement a Normal Course Issuer Bid (the "NCIB").
Source Energy Services Reports Record Q2 Results, Despite Spring Break-Up
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce its 2018 second quarter results.
Source Energy Services Updates Previously Announced Duvernay Agreement to Name Shell Canada Energy as the Customer
Source Energy Services Ltd. ("Source") is updating its September 11, 2018 announcement that it had entered into an agreement with a multinational exploration and production company to name Shell Canada Energy ("Shell") as the customer.
Source Energy Services Reports Record Q1 Results, Despite Railroad Issues
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce its 2018 first quarter results.
Source Energy Services Ltd. Announces Closing of $50M Senior Secured Notes Offering
Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its wholly-owned subsidiaries Source Energy Services Canada LP and Source Energy Services Canada Holdings Ltd. have closed the previously announced offering of an additional $50 million aggregate principal amount of 10.5% senior secured first lien notes due December 15, 2021 (the "Notes") by way of private placement (the "Private Placement").
Source Energy Services Announces Sand Sales Volumes for its Second Quarter and Upcoming Earnings Release Date.
Source Energy Services Ltd. ("Source") is pleased to announce that its sand volumes for the second quarter were 814,000 metric tonnes ("MT"), of which, approximately 85% were made through Source's Canadian distribution network or at customers' wellsites.
Source Energy Services Reports Voting Results for Election of Directors
Source Energy Services Ltd. (the "Company" or "Source") reports director election results from its annual meeting of shareholders held May 3, 2018 (the "Meeting"). All of the proposed nominees were elected to serve as directors until the next annual meeting of shareholders, or until their successors are duly elected or appointed. An aggregate of 49,232,262 Common and Class B Shares (being 78.33% of the shares eligible to be voted at the Meeting) were represented at the Meeting.
Source Energy Services Ltd. Announces Upsize and Pricing of an Offering of Senior Secured Notes
Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its wholly-owned subsidiaries Source Energy Services Canada LP and Source Energy Services Canada Holdings Ltd. have, pursuant to an underwriting agreement entered into today, agreed to issue and sell an additional $50 million aggregate principal amount of 10.5% senior secured first lien notes due December 15, 2021 (the "Notes") by way of private placement (the "Private Placement") under the indenture pursuant to which the same issuers previously issued Notes on December 8, 2016.
Source Energy Services Announces Upcoming Earnings Release and Annual General Meeting Dates
Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its first quarter financial results for the period ending March 31, 2018, will be released following the Toronto Stock Exchange market close on May 2, 2018. A conference call has been scheduled for 7:30 am MT (9:30 am ET) on May 3, 2018 for interested analysts, investors and media representatives.
Source Energy Services Ltd. Announces the Opening of its Fox Creek Unit Train Terminal and its 2018 Capital Budget
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce the commencement of operations at its newest unit train terminal in Fox Creek, Alberta and its 2018 capital budget.
Source Energy Services Announces Upcoming Earnings Release
Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its fourth quarter financial results will be released after the Toronto Stock Exchange market close on March 14, 2018.
Source Energy Services Reports Solid Performance in the Fourth Quarter to Complete a Transformative Year
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce its 2017 annual and fourth quarter results.
Source Energy Services Ltd. Provides First Quarter Operational Updates
Source Energy Services Ltd. (TSX: SHLE) ("Source" or the "Company") is pleased to provide the following operational update.
Source Energy Services Ltd. Files Updated NI 43-101 Technical Reports for its Mineral Projects in Wisconsin, United States
Source Energy Services Ltd. ("Source" or the "Company") is pleased to announce that it has filed with the applicable Canadian securities regulatory authorities updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") technical reports for each of its three mineral projects in Wisconsin, United States (collectively, the "Technical Reports").
Source Energy Services Reports Record Performance in the Third Quarter
Source Energy Services Ltd. (the "Company") is pleased to announce Source's (as defined in the Interim MD&A) third quarter 2017 results.
Source Energy Services Ltd. Announces Duvernay Agreement
Source Energy Services Ltd. (TSX: SHLE) ("Source" or the "Company") is pleased to announce it has entered into an agreement with a multinational exploration and production company whereby Source will provide for the term of the contract: I) Northern White frac sand from Source's recently commissioned unit train capable terminal in Fox Creek Alberta; II) logistics management services; and III) wellsite storage services.
Source Energy Services Announces James McMahon has Entered into an Automatic Securities Disposition Plan
Source Energy Services Ltd. ("Source" or the "Company") announces that James McMahon has entered into an automatic securities disposition plan.
Source Energy Services Announces Upcoming Earnings Release
Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its third quarter financial results will be released prior to the Toronto Stock Exchange market open on November 13, 2017.
Source Energy Services Reports Strong Second Quarter Results
Source Energy Services Ltd. (the "Company") is pleased to announce Source's (as defined in the Interim MD&A) second quarter 2017 results.
Source Energy Services Ltd. Announces Completion of the Acquisition of Preferred Sands’ Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets and Related Financings, including Exercise of Underwriters Over-Allotment Option
Source Energy Services Ltd. (the “Company” or “Source”) is pleased to announce that it has completed its previously announced acquisition (the “Acquisition”) of a Northern White proppant mine in Blair, Wisconsin, two frac sand terminals located in Chetwynd, and Fort Nelson, British Columbia and exploration rights to more than 3,600 acres of land in the Peace River Valley of Alberta, from certain affiliates of Preferred Proppants, LLC, for total consideration of U.S.$80 million (approximately $100 million) cash, subject to post-closing adjustments.