ATK Oilfield Transportation Inc.

ATK Oilfield Transportation Inc.

September 10, 2013 08:30 ET

ATK Oilfield Transportation Announces Closing of CDN$25M Term Debt Facility

DRAYTON VALLEY, ALBERTA--(Marketwired - Sept. 10, 2013) - ATK Oilfield Transportation Inc. ("ATK" or the "Company"), a leading provider of rig moving and oilfield transportation services, today announced that it has closed a term debt facility of CDN$25 million with ATB Financial.

ATK will initially use this term debt financing to consolidate existing debt. The majority of the term debt financing will be used to purchase additional new equipment to further expand ATK's operations in Western Canada, including ATK's new locations in Grande Prairie, Alberta and Fort Nelson, British Columbia.

"In partnership with ATB we have been able to substantially strengthen our balance sheet and reduce our cost of capital," said Artie Kos, Chairman and CEO of ATK. "We see a strong market for ATK in Canada and will continue to grow our presence in the prolific W5 and W6 region. At the same time, we have identified potential opportunities for ATK in some of the emerging resource plays in the United States."

About ATK Oilfield Transportation Inc.

ATK provides rig moving and other specialized transportation services to exploration, development and production companies operating in the Western Canadian Sedimentary Basin. The Company was incorporated in 2010 to better serve the oil and gas industry's rig moving needs in Western Canada. ATK has operating divisions in Drayton Valley, Edson, Whitecourt, Grande Prairie and Fort Nelson, B.C., and 11 strategically located rack sites throughout B.C. and Alberta.

For more information on ATK please see the Company's website at: www.atkoilfield.com.

Contact Information