Company Profile
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Company Name : Source Energy Services Ltd.
Address : Suite 100, 438 - 11th Avenue S.E., Calgary, Alberta, Canada T2G 0Y4
Phone : (403) 262-1312
Fax : (403) 800-9101
President : Brad Thomson, CEO
Web Site : www.sourceenergyservices.com
Email :
Date of Formation : February 7, 2017

Management & Directors :
Cody Church - Director (Chair)
Jeff Belford - Director
Jim McMahon - Director
Neil Cameron - Proposed Director
Marshall L. McRae - Proposed Director
Stew Hanlon - Proposed Director
Brad Thomson - Chief Executive Officer and Director
Derren Newell - Chief Financial Officer
Scott Melbourn - Chief Operating Officer
Joe Jackson - Senior Vice President of Commercial Development
 
Business Description :
Source Energy Services Ltd. is a fully integrated producer, supplier and distributor of high-quality Northern White frac sand, which is a preferred proppant used to enhance hydrocarbon recovery in the hydraulic fracturing of oil and natural gas wells. Source sells frac sand, primarily to customers operating in the WCSB through its strategically located terminal network, which Source believes is the largest of its kind in the WCSB. Source currently has the capability to produce over two million metric tonnes per annum of Northern White frac sand at its Sumner and Weyerhaeuser facilities and, in the event the Blair Facility Acquisition is completed, Source expects its production capacity of Northern White frac sand to increase to over three million metric tonnes per annum. Source's fully integrated logistics platform enables it to transport high volumes of frac sand from its facilities in Wisconsin to its customers in the WCSB such that during 2016, Source sold substantially all of its product in-basin and over 50% of its product directly at its customers' wellsites. Source believes that its terminal network, along with its focus on logistics and ability to efficiently deliver sand directly to the wellsite, attractively position Source as a leading player in the WCSB with the ability to reliably deliver high volumes of frac sand to its customers in a cost-effective manner.
 
Company Financials :
Fiscal Year-End :December 31
Financials :Revenue for the year ended December 31, 2016 - $112,962,000
Net loss for the year ended December 31, 2016 - $(43,402,000)

Revenue for the year ended December 31, 2015 - $153,135,000
Net loss for the year ended December 31, 2015 - $(9,766,000)

 
Disclaimer: A preliminary prospectus, and any amendments thereto, relating to these securities has been filed with securities commissions in certain provinces, but has not yet become final for the purpose of distribution to the public. This web page shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission.


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