Source in the News: Leader-Telegram

Source was featured in an article on the state of the Wisconsin frac sand industry in the Leader-Telegram, Eau Claire and the Chippewa Valley’s leading news source since 1881. Here is an excerpt from the article:

After more than a decade of alternating boom-and-bust cycles, the regional frac sand industry appears to be stabilizing — at least for now.

That’s the assessment of UW-Eau Claire geology professor Kent Syverson, who also serves as a consultant for the frac sand industry. “It’s adjusted now to a different base level. Now it’s kind of in equilibrium I would say,” Syverson said.

While he doesn’t expect the industry ever to go back to the way it was from 2011 to 2014 when new mines and processing plants were popping up like dandelions across west-central Wisconsin to take advantage of the region’s silica sand reserves, Syverson said the surviving facilities seem to have found reliable markets for their sand ,including some that shifted to producing for other industries such as glassmaking.

To read the full article ‘Analysts: Wisconsin’s volatile frac sand industry has stabilized’ click here.

Source in the News: Daily Oil Bulletin

Source was recently featured in the Daily Oil Bulletin, the most trusted source of exclusive news, data, and analysis for Canada’s oil and gas industry. Here is an excerpt from the article:

Source Energy Services Ltd. has approved a 2020 capital spending budget of $5.6 million, which is substantially comprised of sustaining capital.

“Source’s modest capital budget for 2020 is possible because of the investment made in processing assets and logistics infrastructure in prior years,” Brad Thomson, chief executive officer, stated in a news release this morning. “This allows us to operate at current levels and to substantially grow when the basin returns to more normal operating level, without the expenditure of substantial capital.”

To read the full article ‘Source Approves $5.6 Million 2020 Capex Budget; Renews Contract With 7G’ click here.