Phoenix Announces Opening of Pleasanton Texas Office
CALGARY, ALBERTA, Apr 11, 2012 (Marketwire via COMTEX) --
Phoenix Oilfield Hauling Inc. ("Phoenix" or the "Company") (TSX VENTURE:PHN), a leading provider of oilfield hauling services and equipment rentals to the energy industry, today announced that it has opened a regional office specializing in rig moving in Pleasanton, Texas.
"Opening an office in Pleasanton puts at the centre of operations for the Eagle Ford Shale resource play, where a number of our customers have field offices," said Mr. David Werklund, Interim President and CEO of Phoenix. "There are approximately 250 active drilling rigs in the Eagle Ford shale and this new facility will help support both existing customer relationships as well as further business development initiatives in an area of high activity."
The facility will house both offices and the Company's regional oilfield hauling fleet. The fleet includes 16 rig moving units equipped with GPS tracking and satellite communication capabilities as well as an assortment of specialized trailers. The branch will be staffed by a team with substantial regional rig moving experience.
About Phoenix Oilfield Hauling Inc.
Phoenix provides specialized transportation services required for the drilling exploration, development and production of petroleum resources in the Western Canadian Sedimentary Basin and in the United States of America principally in and around the states of Texas and Pennsylvania. Transportation services include both the equipment necessary to move the load as well as a trained, professional driver capable of securing, moving and manipulating the load at its origin and destination. Phoenix's rental operations include the rental of tanks, matts, pickers, light towers and other equipment necessary for oilfield operations.
Phoenix was incorporated in 1994 as a private company to serve the oil and gas industry. In the spring of 2006 the Company went public on the TSX Venture Exchange. Phoenix has major operations in Calgary, AB, Slave Lake, AB, Nisku, AB, Grand Prairie, AB, Melita, MB, Mineral Wells, TX, Pleasanton, TX and New Columbia, PA. Phoenix is publicly traded on the TSX Venture Exchange under the symbol PHN. For more information on Phoenix please visit www.phoenixhauling.com.
This document contains forward-looking statements. Some forward looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. The statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. The Company's actual results could differ materially from those currently anticipated due to a number of factors, including, but not limited to, successful integration of structural changes, including restructuring plans, acquisitions, technical or manufacturing or distribution issues, the competitive environment for the Company's products, the degree of market penetration of the Company's products, and other factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time.
SOURCE: Phoenix Oilfield Hauling Inc.
Phoenix Oilfield Hauling Inc.
Bharat Mahajan, CA
Vice President Finance and Chief Financial Officer
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