Maverick Oilfield Services Ltd.

October 02, 2013 19:26 ET

Maverick Oilfield Services Ltd. Announces Expansion Into Southern Alberta and Saskatchewan

CALGARY, ALBERTA--(Marketwired - Oct. 2, 2013) - Maverick Oilfield Services Ltd. ("Maverick") a leading provider of oil and gas mechanical construction, maintenance and transportation services announced today that it has entered the Southern Alberta and Saskatchewan market through the acquisition of the assets of Toro Projects Inc. ("Toro").

Based in Medicine Hat, Alberta, Toro an oil and gas construction company had 35 employees and complimentary heavy construction and pipelining assets and a fleet of light vehicle assets. In connection with the asset acquisition, all key Toro personnel have joined the Maverick team.

Mr. Chris Challis Maverick's Chief Executive Officer stated "We are very excited for this expansion opportunity into the southern Alberta and Saskatchewan markets. Toro has very talented and highly respected personnel, thus enabling Maverick to better and more fully service its current customer base. This recent expansion fits with Maverick's aggressive growth strategy to becoming an industry leader."

Maverick is also pleased to announce that Mr. Josh Shockey has joined the Maverick team and will take the lead in Southern Alberta. Prior to joining Maverick and in conjunction with the acquisition of Toro's assets, Mr. Shockey a founding shareholder was President and CEO of Toro.

"This is an exciting match, we believe that this was the right move for our people" stated Mr. Shockey. "Although it is bitter sweet as an entrepreneur to say goodbye to Toro, which I enjoyed seeing grow from its infancy, this move will help enhance the careers of everyone involved."

On Maverick's 35 year anniversary, this asset acquisition marks a return to old roots for Maverick's founder and President Mr. Mike Schnell who was raised in Cessford, Alberta. Additionally, Maverick began its operations in southern Alberta in 1978.

"I am pleased to work with Mr. Shockey and his team, we are aligned in our beliefs and goals." said Mr. Schnell. "This is the beginning of a long and successful business relationship. I look forward to getting to know the employees and customers that Mr. Shockey has established and I am sure we will continue these and many new relationships. It feels good to return to my southern Alberta roots. It seems a 24 inch pipe wrench will never be far from my grasp."

About Maverick

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, Pipe-lining, Well Tie-Ins, Maintenance and Logistics.

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.

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