Keyera Awards Matrix Service Turnkey EPC Contract for Greenfield Crude Oil Storage and Blending Terminal at Cushing
TULSA, Okla., May 15, 2018 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that Keyera Energy Inc., a subsidiary of Keyera Corp. (TSX:KEY) has awarded Matrix Service Inc. the engineering, procurement, fabrication and construction of its Wildhorse Terminal, a greenfield aboveground crude oil storage and blending terminal at Cushing, Oklahoma. The terminal will include 12 aboveground storage tanks and provide 4.5 million barrels of storage capacity, and will initially be pipeline connected to two existing storage terminals in Cushing, providing Keyera's customers with access to the majority of crude oil streams flowing in and out of Cushing on several major pipeline networks. An affiliate of Lama Energy Group will own 10% of the project.
"We are extremely proud to have been awarded this project, which is representative of our leading position in the design and construction of above ground storage terminals. We appreciate the opportunity Keyera has provided to us to support their business objectives of further enhancing and diversifying their liquids business," said John R. Hewitt, CEO of Matrix Service Company. "We look forward to working with them to complete this project safely and with the highest degree of quality, on time and on budget."
The project, which was awarded in May 2018, is scheduled to be in service by mid-2020.
About Matrix Service Company
Founded in 1984, Matrix Service Company (NASDAQ:MTRX) is parent to a family of companies that include Matrix Service Inc., Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America's energy, power and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial. To learn more about Matrix Service Company, visit matrixservicecompany.com.
Keyera Corp. (TSX:KEY) operates an integrated Canadian-based midstream business with extensive interconnected assets and depth of expertise in delivering midstream energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing, natural gas liquids processing, transportation, storage, marketing, iso-octane production and sales, and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.
About Lama Energy Group
Lama Energy Group (LEG) was established in 1991 and is one of the leading privately owned investment groups in the Czech Republic. The core business activities are carried out in the Czech Republic, Canada and the USA. LEG's business lines include; Oil & Gas Exploration, Heating & Power Plants, Energy Marketing and Transportation, Telecommunications and Mining, both in the wholesale and retail markets. LEG is powered by over 600 employees in more than 25 companies with the group's headquarters in Prague, Czech Republic. LEG's North American Operations started in 2011 as Petrolama Energy Canada Inc. with its office located in Calgary, Canada. For additional information about Lama Energy Group please visit www.lamagroup.cz
For more information, please contact:
Matrix Service Company:
Kevin S. Cavanah
Matrix Service Company
Vice President and CFO
Alpha IR Group Investor Relations
Lavonne Zdunich, Director
Investor Relations & Communications
T: 403-205-7670 / Toll Free: (888) 699-4853
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