Logan International Inc.

Logan International Inc.

March 06, 2012 09:25 ET

Logan International Inc. Announces Executive Appointment

CALGARY, ALBERTA--(Marketwire - March 6, 2012) - Logan International Inc. (TSX:LII) ("Logan") is pleased to announce that it has named Mr. Robert Russell as President, Canadian operations. In this capacity, Mr. Russell will be responsible for the companies that comprise Logan's Canadian businesses - Xtend Energy Services, Scope Production Development and Logan Completion Systems. He will operate out of Logan's Canadian headquarters in Calgary.

Having most recently served as President of Xtend Energy Services, prior to Logan's acquisition, Mr. Russell brings over 20 years of experience in the oil and gas service industry. From 2005 to 2011, Mr. Russell was the Chief Operating Officer of Canada and Mexico - Drillings Operations at Trinidad Drilling Ltd. and, from 1993 to 2005, he was Vice President and General Manager of Tuboscope Varco's Canadian operations which consisted of eight separate divisions and generated annual revenues of more than $250 million.

"We are delighted that Bob Russell has agreed to join Logan. He brings managerial expertise, an intimate knowledge of the oilfield service industry and the drive and vigor that is so highly valued at Logan. We look forward to his contributions as a member of the Logan team" stated David Barr, Chief Executive Officer.

"I am excited to join the Logan organization in this new capacity and am looking forward to working with the Canadian team to maximize the returns from these operations," Mr. Russell stated.

Logan manufactures and sells a comprehensive line of quality fishing and intervention tools, including retrieving, surface, stroking and remedial tools for a variety of well workover, intervention, drilling, and completion activities (Logan Oil Tools, Inc.); manufactures and sells high-performance poly- crystalline diamond compact (PDC) cutters and bearings (Dennis Tool Company); manufactures and sells packers, bridge plugs, and other completion products (Kline Oilfield Equipment, Inc.); provides proprietary multi-zonal completion technology and conventional completion production products and services (Logan Completion Systems Inc.); provides proprietary and patented products and services that are focused on production optimization in sand-laden heavy oil wells (Scope Production Development); and provides proprietary tools that enhance the effectiveness of horizontal drilling (Xtend Energy Services).

Common shares of Logan are traded on the Toronto Stock Exchange (TSX) under the ticker symbol "LII".

Forward-Looking Statements

This press release contains forward-looking statements. These statements relate to future events or future performance of Logan. When used in this press release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "propose", "expect", "potential", "continue", and similar expressions, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect Logan's current views with respect to certain events and are subject to certain risks, uncertainties and assumptions. Although Logan believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Many factors could cause Logan's actual results, performance, or achievements to materially differ from those described in this press release. Readers are referred to Logan's Annual Information Form for the year ended December 31, 2010 filed on www.sedar.com which identifies significant risk factors which could cause actual results to differ from those contained in the forward-looking statements. Should one or more risks or uncertainties materialize or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These statements speak only as of the date of this press release. Logan does not intend and does not assume any obligation, to update these forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein in any jurisdiction.

Contact Information

  • Logan International Inc.
    David Barr
    Chief Executive Officer
    403.237.6437 Calgary
    281.617.5300 Houston

    Logan International Inc.
    Larry Keister
    Chief Financial Officer
    403.237.6437 Calgary
    832.386.2534 Houston