There were 719 press releases posted in the last 24 hours and 159,336 in the last 365 days.

Strad Energy Services Completes Acquisition in Canada's Most Active Oil and Gas Region

/ -- CALGARY, ALBERTA--(Marketwired - Feb 22, 2017) - Strad Energy Services Ltd. ("Strad" or the "Company") (TSX:SDY) is pleased to announce the successful completion of the acquisition (the "Acquisition") of two private companies based in Fort St. John, British Columbia. The surface rental equipment and personnel of these two private companies will immediately be combined with Strad, which operates one of the newest, largest and most diverse fleets of rental equipment in the Deep Basin from key locations in Fort St. John, Dawson Creek and Grande Prairie. The Acquisition continues to create a stronger, more diverse rental platform for Strad to better service customers focused in the Montney and Duvernay plays of North East British Columbia and North West Alberta.

Consideration for the Acquisition consisted of 561,798 class A common shares of Strad ("Strad Shares") and $1.75 million in cash at closing, representing a total transaction value of approximately $2.75 million, based on the 20 day weighted average trading price of Strad Shares on the TSX immediately preceding the date hereof.

About Strad Energy Services Ltd.

Strad is a North American energy services company that provides rental equipment and matting solutions to the oil and gas and energy infrastructure sectors. Strad focuses on providing complete customer solutions in Canada and the United States.

Strad is headquartered in Calgary, Alberta, Canada. Strad is listed on the Toronto Stock Exchange under the trading symbol "SDY".

Strad Energy Services Ltd.
Andy Pernal
President and Chief Executive Officer
(403) 775-9202
(403) 232-6901
Strad Energy Services Ltd.
Michael Donovan
Chief Financial Officer
(403) 775-9221
(403) 232-6901

Distribution channels: Energy Industry

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.