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Source Energy Services Ltd (SHLE.TO)

SHLE.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Source Energy Services Q3 net income $3 million
Monday, 13 Nov 2017 

Nov 13 (Reuters) - Source Energy Services Ltd :Source Energy Services reports record performance in the third quarter.Qtrly ‍sand sales volumes increased 225% from Q3 of last year​.Qtrly net income of $3 million versus net loss of $12.4 mln‍​.Qtrly ‍sand revenue $62.2 million versus $19.1 million​.Qtrly sand volumes 510,446 metric tonnes versus 157,210 metric tonnes​.  Full Article

Source Energy Services Ltd. announces acquisition of Preferred Sands' Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets
Wednesday, 18 Oct 2017 

Oct 17 (Reuters) - Source Energy Services Ltd ::Announces acquisition of Preferred Sands' Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets as well as $90 million in equity financings.Consideration for Acquisition includes U.S.$80 million in cash, subject to closing and post-closing adjustments​.Acquisition is expected to provide significant accretion in cash flow per share in 2018​.Acquisition is also expected to be immediately accretive, based on key operational metrics​.Financing deal by $25.1 million public bought deal equity financing, $65 million private placement equity financing, draws on credit facilities​.Prior to closing of acquisition, co expects to increase its revolver limit under its credit facilities from $35 million to $70 million​.Approximately $20 million of revolver limit will be utilized to finance acquisition​.In connection with deal, co ‍entered agreement with underwriters to issue 3 million shares on bought deal basis at $8.35 per share​.  Full Article

Source Energy reports quarterly sand revenue of $50.6 mln
Thursday, 3 Aug 2017 

Aug 2 (Reuters) - Source Energy Services Ltd :Source energy services reports strong second quarter results.Qtrly sand revenue $50.6 million versus $17.1 million.  Full Article

Source Energy says expects to earn revenue from its fourth sahara unit during Q4 2017
Wednesday, 12 Jul 2017 

July 11 (Reuters) - Source Energy Services Ltd :Source Energy Services provides an update and announces upcoming earnings release.Expected source will land its first unit train of proppant at fox creek in q3 of 2017.Sees terminal will be fully completed during q4 of 2017.Source expects to be earning revenue from its fourth sahara unit during the fourth quarter of 2017.Source Energy Services - source's third sahara unit is currently under construction and expected to be earning revenue in the third quarter of 2017.  Full Article