CALGARY, July 11, 2014 /CNW/ - Maverick Oilfield Services Ltd. ("Maverick"), a leading provider of oil and gas mechanical construction, maintenance and transportation services announced today that effective July 1, 2014, it has acquired all shares of Latigo Trucking Ltd. ("Latigo").
"As Maverick looks to further strengthen its transportation business segment, the opportunity to add Latigo to our portfolio of companies enhances our growth strategy. Finding a transportation company with similar values made this combination move forward with ease. Latigo enables Maverick to focus on building this segment of our business, as we continue to execute our strategy to become a leader in the industry," says Chris Challis, CEO of Maverick.
Through this acquisition, Latigo is able to capitalize on transportation opportunities in the Calgary market. With a newly established base in Calgary, the company is able to better serve clients in the city and surrounding area.
Murray Wozniak, co-owner of Latigo along with Wayne Anderson says, "Wayne and I are thrilled that Maverick will continue operations under the Latgio name. After owning and operating Latigo for 20 years, Maverick gave us the opportunity to hand over the reins to a company with a shared commitment to growth. Maverick's continuity in operations will significantly benefit our customers, management and staff. Their leadership team has the experience and business ethics to provide Latigo continued development in a vibrant oilfield market."
Mike Schnell, President and Founder of Maverick stated, "Wayne Anderson and I grew up together in the HBOG Cessford camp over 50 years ago and operated gas plants and compressor stations in the Suffield Block at the same time. Wayne and Murray have built an exceptional company, and it is our commitment that Maverick will continue to build on their solid reputation."
About Maverick Oilfield Services Ltd.
Maverick is a leading mechanical construction and transportation services provider, for the upstream oil and gas industry in Western Canada; including but not limited to, Facility Construction, Pipelining, Well Tie-Ins, Maintenance and Logistics.
About Latigo Trucking Ltd.
Latigo is a Brooks, AB based oil and gas transportation company that has provided trucking and picker/crane services in Southern Alberta since 1994. Latigo has a solid reputation as a competent and reliable transportation provider for the oil and gas industry.
Certain information regarding Maverick set forth in this news release, including the results of the acquisition of Toro's assets, may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties. The forward-looking statements contained in this document are made as at the date of this news release and Maverick does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Image with caption: "Maverick Oilfield Services Ltd. (CNW Group/Maverick Oilfield Services Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140711_C1774_PHOTO_EN_4246.jpg
Image with caption: "Latigo Trucking Ltd. (CNW Group/Maverick Oilfield Services Ltd.)". Image available at: http://photos.newswire.ca/images/download/20140711_C1774_PHOTO_EN_4247.jpg
SOURCE: Maverick Oilfield Services Ltd.
For further information: Christopher W. Challis, Chief Executive Officer, P: 403.234.8822, E: [email protected]