CALGARY, Sept. 10, 2015 /CNW/ - Cathedral Energy Services Ltd. (TSX: CET) ("Cathedral") announced today it has undertaken a number of organizational and operational changes to enhance its U.S. and Canadian business operations. These changes have been made to serve customers better and to improve financial performance.
Appointment of Vice President, U.S. Directional Drilling
Neil Schappert will be assuming the role of Vice President U.S. Directional Drilling and will be providing strategic and financial oversight to the U.S. directional drilling team. Previously Mr. Schappert was General Manager of U.S. Directional Drilling and had full responsibility for both sales and operations. The sales and operations leadership functions have now been segregated and report to Mr. Schappert. Scott MacFarlane, Cathedral's CEO commented; "Over the past 10 years Neil has done a tremendous job leading the expansion of Cathedral's U.S. Directional Drilling business. Neil will play a key role on Cathedral's executive management team with developing and implementing corporate strategy and ensuring Cathedral's technology is optimized for U.S. customer opportunities."
Opening of Eunice, New Mexico Facility
Effective September 1, 2015, Cathedral has opened an operating facility in Eunice, New Mexico. The primary function of securing this local presence is to better support Cathedral's Flowback and Production Testing customers in the Permian basin and the southern U.S. The facility will also be used to support directional drilling operations in the area.
Opening of Emerald Park, Saskatchewan Facility
In October 2015, Cathedral will be moving its Saskatchewan and Manitoba operations base from Estevan, Saskatchewan to Emerald Park, Saskatchewan, located ten minutes east of Regina. This move is aimed at providing better support to Cathedral's customers in Saskatchewan and Manitoba by improving response times and expanding support capabilities. Cathedral's Saskatchewan operations also provide support for specific northern U.S. directional drilling projects.
THIS NEWS RELEASE IS ONLY FOR THE PURPOSES OF PRODUCT/SALES COMMUNICATIONS IN THE U.S. AND IS NOT INTENDED TO BE ANY SOLICITATION OF SECURITIES OF CATHEDRAL IN THE U.S.
For general sales or operations enquiries, please contact:
U.S. Operations - 877.825.1002
Canadian Operations - 866.276.8201
Cathedral Energy Services Ltd. (the "Company" or "Cathedral"), based in Calgary, Alberta is incorporated under the Business Corporations Act (Alberta) and operates in the U.S. under Cathedral Energy Services Inc. The Company is publicly traded on the Toronto Stock Exchange under the symbol "CET". Cathedral, is a trusted partner to North American energy companies requiring high performance directional drilling services and dependable flowback and production testing solutions. We work in partnership with our customers to tailor our equipment and expertise to meet their specific geographical and technical needs. Our experience, technologies and responsive personnel enable our customers to achieve higher efficiencies and lower project costs. For more information, visit www.cathedralenergyservices.com.
This news release contains certain statements or disclosures relating to Cathedral that are based on the expectations of Cathedral as well as assumptions made by and information currently available to Cathedral which may constitute forward-looking information under applicable securities laws. In particular, statements related to improve financial performance, the use of Cathedral's Eunice, New Mexico facilities and the planned move of Cathedral's Saskatchewan and Manitoba operations base to Emerald Park, Saskatchewan may contain forward-looking information. Many factors could cause the performance or achievement by Cathedral to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking information. Cathedral's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website (www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. Cathedral disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
SOURCE Cathedral Energy Services Ltd.
For further information: P. Scott MacFarlane, President and Chief Executive Officer, Randy Pustanyk, Executive Vice President and Chief Operating Officer, or Michael F. Hill, Chief Financial Officer., Cathedral Energy Services Ltd.,6030 3 Street S.E., Calgary, Alberta T2H 1K2,Telephone: 403.265.2560 Fax: 403.262.4682 www.cathedralenergyservices.com