A wood-based cement additive is formed by mixing high-density pellet particles of various sizes. The additive is to be introduced into a cement source to create a slurry mixture. The density of the mixture of pellet particles is selected to be less than the density of the particular cement type in which the pellet particles are introduced. The pellet particles are formed from sawdust or fiber pressed under high pressure, resulting in brittle pellets. The pellets may then be crumbled and screened into particles of an appropriate size. The particles do not disassociate into their constituent materials when mixed with the cement, and thus maintain their density during use in the cementing process.