June 24, 2013
(TSX: FRC) Canyon Services Group Inc. ("Canyon") provides the following update on the flood situation in Southern Alberta.
It is expected that the
head office will reopen
Wednesday, June 26.
No ongoing delays are expected in the head office as it does not appear that there was any damage to the building. Canyon did not experience any systems interruptions as its main servers are located offsite in an area of
that experienced no flooding or power disruptions. Until the office re-opens later this week, the
based staff continue to operate via offsite and home computer system access. Client frac satellite services are working via remote computer access.
Other than the head office, all field operating bases are operating as per usual, and have not been adversely impacted. Field operations are continuing although delays are expected as our clients in the
downtown area have not had office access and likely will not become operational until after the
weekend. In the month of June, most of the significant field delays being experienced throughout the basin are due to typical seasonal rain. Any work postponed from Q2 will be completed in the remainder of this year, likely in Q3.
Fortunately, only six Canyon staff were evacuated from their homes due to flooding. All have found accommodations with family and friends.
Canyon continues to support the community in its restoration efforts and has dispatched people and equipment to aid in the rebuilding process.
Canyon's common shares trade on the Toronto Stock Exchange under the symbol "FRC". Canyon provides high-quality fracturing and related stimulation services to the oil and gas industry in the Western Canadian Sedimentary Basin.