Brian Zinchuk is editor and owner of Pipeline Online
CALGARY – Source Energy Services Ltd. (“Source”) announced on March 13 that it has acquired RWR Trucking Inc.’s (“RWR”) sand trucking assets for a combination of cash, vendor take back note, and assumed lease obligations.
Source has acquired a fleet of 27 tractors and 52 trailers that will account for approximately 10% of its Last Mile Trucking requirements. Key members of the RWR team, including drivers, dispatchers, and support personnel are now key members of the Source team.
“The acquisition of the RWR assets strengthens our Last Mile Logistics service offering and, when coupled with the consistency of our Peace River hauls, will result in a highly utilized fleet,” said Scott Melbourn, Chief Executive Officer. “This transaction aligns seamlessly with our commitment to grow free cash flow so as to further deleverage the company, enhance our logistics service offerings, and provide the highest level of service to our customers.”
ABOUT SOURCE ENERGY SERVICES
Source is a logistics company that focuses on the supply and distribution of high quality Northern White and Domestic frac sand. Source provides its customers with a full end-to-end solution supported by its Wisconsin mines and processing facilities, its Western Canadian terminal network and its “last mile” logistics capabilities. In addition to its industry leading frac sand transload terminal network and in-basin frac sand storage capabilities, Source also provides storage and logistics services for other bulk oil and gas well completion materials that aren’t produced by Source. Source has also developed Sahara, a proprietary well site mobile sand storage and handling system.
Source’s full-service approach allows customers to rely on its logistics capabilities to increase reliability of supply and to ensure the timely delivery of their requirements for frac sand and other bulk completion materials at the well site.
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ABOUT RWR TRUCKING INC.
RWR Trucking Inc. (“RWR”) is a privately owned environmental trucking, excavation, decommissioning, and demolition contractor specializing in contaminated soil transport. RWR was established in the fall of 2003, and for the past 10 years has been located in Camrose, Alberta. RWR services the oil and gas industry providing cost effective solutions to ensure your Environmental projects are executed safely and on time.