Trican Well Service Ltd. Announces Partnership with Source Energy Services to Develop a Transload Facility in Taylor, BC

Calgary, Alberta--(Newsfile Corp. - July 25, 2024) - Trican Well Service Ltd. (TSX: TCW) ("Trican") is pleased to announce that it has entered into a partnership with Source Energy Services Ltd. ("Source") to construct a new transload facility (the "Facility") in The District of Taylor, British Columbia. The Facility will be unit train capable and feature approximately 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.

"The new facility will provide improved sand access and help us better service our clients in northeast 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."

"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."

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

ABOUT TRICAN

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.

Please visit our website at www.tricanwellservice.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this document constitute forward-looking information and statements (collectively "forward-looking statements"). These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate," "achieve," "estimate," "expect," "intend," "plan," "planned," and other similar terms and phrases. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this document should not be unduly relied upon. These statements speak only as of the date of this document.

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