CALGARY, Alberta, July 25, 2024 (GLOBE NEWSWIRE) -- (TSX:SHLE) Source Energy Services Ltd. (“Source”) is pleased to announce that it has entered into a partnership with Trican Well Service Ltd. (“Trican”) to construct a new terminal (the “Terminal”) in the District of Taylor, British Columbia. The Terminal will be unit train capable and will feature ~55,000 tonnes of storage and greater than 12,000 tonnes of daily throughput capacity making it one of the largest facilities in northeast British Columbia.

“We are proud to partner with the leading pressure pumping service company in the Western Canadian Sedimentary Basin to develop much needed northeast British Columbia sand logistics infrastructure,” said Scott Melbourn, Chief Executive Officer of Source. “Upon completion Source and Trican will be able to offer unparalleled service in the region.”

“The new facility will provide improved sand access and help us better service our clients in northeastern British Columbia,” said Brad Fedora, President and Chief Executive Officer of Trican. “We are pleased to partner with the leading integrated sand provider in Canada in developing critical infrastructure necessary to help unlock Canadian energy in the region.”

Construction of the Terminal will commence in July of 2024 with the first phase operational in late Q3 with full completion anticipated in early 2025. The Terminal will be rail serviced by Canadian National Railways.

ABOUT SOURCE ENERGY SERVICES

Source Energy Services is a company that focuses on the integrated production and distribution of frac sand, as well as the distribution of other bulk completion materials not produced by Source. Source provides its customers with an end-to-end solution for frac sand supported by its Wisconsin and Peace River mines and processing facilities, its Western Canadian terminal network and its “last mile” logistics capabilities, including its trucking operations, and Sahara, a proprietary well site mobile sand storage and handling system.

Source’s full-service approach allows customers to rely on its logistics platform to increase reliability of supply and to ensure the timely delivery of frac sand and other bulk completion materials at the well site. For more information about Source, please visit www.sourceenergyservices.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking statements relating to, without limitation, expectations, intentions, plans and beliefs, including information as to the future events, results of operations and Source’s future performance (both operational and financial) and business prospects. In certain cases, forward-looking statements can be identified by the use of words such as “expects”, “believes”, “continues”, “focus”, “trend”, or variations of such words and phrases, or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Such forward-looking statements reflect Source’s beliefs, estimates and opinions regarding its future growth, results of operations, future performance (both operational and financial), and business prospects and opportunities at the time such statements are made, and Source undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or circumstances should change unless required by applicable law. Forward-looking statements are necessarily based upon a number of estimates and assumptions made by Source that are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Forward-looking statements are not guarantees of future performance. This press release contains forward-looking statements pertaining, but not limited to expectations that WCSB activity levels will remain strong in Northeastern BC in 2024 and beyond.