Expansion Improves Services to Montney and Duvernay Basins
CALGARY, AB, Oct. 27, 2015 — Source Energy Services Canada LP, (“Source”), announced today the addition of a new terminal in Fox Creek, Alta. The terminal will commence operations on November 2, 2015 and service customers that are active in the Fox Creek area with a reliable supply of tier one frac sand. The 24-hour terminal is located off Highway 43, just outside of Fox Creek and is well-positioned to service the Duvernay. In 2016, Source has further expansion plans to the region including the addition of 30,000 T of storage capacity.
With the addition of Fox Creek to Source’s WCSB distribution network, the company has positioned itself as the pre-eminent supplier of Northern White frac sand for the Montney and Duvernay basins. The company’s mine-to-well site service offerings and extensive distribution network allow Source to work strategically with its customers through the economic downturn and continue the expansion of its network in the WCSB.
“We’re committed to Canada and we’re committed to our customers,” said Brad Thomson, CEO of Source. “While we observe US suppliers retreat from the Canadian market, we continue to work with our customers to lower their completion costs and provide infrastructure that eliminates their need for large capital investments.”
Following the commencement of operations at Fox Creek, Source plans to announce the development of additional terminals to service the Montney and Duvernay plays.
About Source Energy Services
Source Energy Services is the largest Canadian-owned integrated supplier and distributor of Tier 1 frac sand in Canada. Providing services in the WCSB since 1998, Source supplies a high-quality monocrystalline silica sand, Source White, from its Sumner and Weyerhaeuser facilities in Wisconsin. With terminals in the WCSB, the Bakken, and the Eagle Ford, Source has built the most extensive frac sand distribution network in North America. For more information, visit www.sourceenergyservices.com.
Some of the information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements give our current expectations, and contain projections of results of operations, capital spending programs, or of financial condition, or forecasts of future events. Words such as “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “could,” “believe,” “project,” “budget,” “potential,” or “continue,” and similar expressions are used to identify forward-looking statements. They can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed. You are cautioned not to place undue reliance on any forward-looking statements. Factors that could cause our actual results to differ materially from the results contemplated by such forward-looking statements include: further expansion of our terminal network; the volume of frac sand we are able to sell; changes in the demand for frac sand; changes in prevailing economic conditions, or, changes in ability to transport frac sand. All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. Source Energy Services’ forward-looking statements speak only as of the date made and Source Energy Services undertakes no obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Source Energy Services
Marketing & Communication Manager
(403) 262-1312 Ext. 231