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Source Energy Services Ltd (SHLE.TO)

SHLE.TO on Toronto Stock Exchange

6.53CAD
16 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Source Energy Services Announces 2018 Capital Budget
Thursday, 21 Dec 2017 05:08pm EST 

Dec 21 (Reuters) - Source Energy Services Ltd ::SOURCE ENERGY SERVICES LTD. ANNOUNCES THE OPENING OF ITS FOX CREEK UNIT TRAIN TERMINAL AND ITS 2018 CAPITAL BUDGET.SOURCE ENERGY SERVICES LTD SEES 2018 CAPITAL BUDGET OF APPROXIMATELY $50 TO $65 MILLION.  Full Article

Source Energy Services Q3 net income $3 million
Monday, 13 Nov 2017 07:42am EST 

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
Tuesday, 17 Oct 2017 03:42pm EDT 

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 Services qtrly sales C$64.4 mln vs C$43.3 mln
Monday, 15 May 2017 08:00am EDT 

May 15 (Reuters) - Source Energy Services Ltd ::Source Energy Services reports 49 pct sales growth and mine acquisition.Qtrly sales C$64.4 million versus C$43.3 million.Source Energy Services - "expects that activity levels and sand intensity levels will continue to rise in 2018 leading to further improvements in 2018".  Full Article