Hyduke Announces CEO Transition

NISKU, AB, Jan. 27, 2014 /CNW/ - Hyduke Energy Services Inc. (HYD - TSX), today announced that Gordon R. McCormack will be stepping down as Chief Executive Officer and a member of the Board of Directors effective immediately.  Working with an executive recruiting firm, the Board of Directors will conduct a comprehensive search for Mr. McCormack's replacement, including an assessment of both internal and external candidates. During the search process, Mr. Patrick F. Ross, an independent member of the Board of Directors, will chair a special committee that will provide direction and oversight to the company's remaining executive team, which will continue to manage the day to day operations at Hyduke.

Mr. McCormack will continue as a valued resource to the company and will work closely with the special committee to ensure that staff, customer, supplier and shareholder relationships are appropriately addressed during the transition process.

Mr. McCormack joined Hyduke in 2002 and become CEO in 2004.  Under his leadership, Hyduke has grown to be a leading global manufacturer of drilling and well service equipment.   "Gord has been a terrific asset to the company and we value his input as we work through this transition period" noted John Pinsent, the Board Chair of Hyduke.  "The Board thanks Mr. McCormack for his service and tireless dedication to our company."

About Hyduke

Hyduke is an integrated oilfield services company with over thirty-five years experience in the manufacture, repair and distribution of oilfield equipment and supplies in Canada and worldwide. Hyduke specializes in providing customized, integrated solutions to the drilling and well service industries including:

  • Turn-Key Equipment - drilling rig, work-over rig and service rig packages including in-house design, engineering and drafting, major component procurement and overall project management;
  • Life Cycle Management - inspection, certification, service, repair and supply services throughout the operating life of the drilling, work-over or well service rig; and
  • Single Source Supply - providing new capital equipment, repair and maintenance on existing capital equipment and supply of operating consumables.

Hyduke is headquartered in Nisku, Alberta, Canada and has facilities in Edmonton, Calgary, Nisku, Leduc, Red Deer and Lloydminster, Alberta and Houston, Texas, USA.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

SOURCE Hyduke Energy Services Inc.

For further information:

John Pinsent
Chair of the Board
(780) 955-0355