Matrix PDM Engineering Awarded Significant Scope on 200 Million Cubic Foot Per Day Cryogenic Gas Recovery Plant in Grady County, Okla.
TULSA, Okla., March 28, 2017 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that its subsidiary, Matrix PDM Engineering has been awarded the engineering, project management, procurement and commissioning of a 200 million cubic foot per day cryogenic gas recovery plant located in the SCOOP play of Southern Oklahoma's Woodford Shale and Springer Shale formations.
"We are honored to have been selected to provide these services, which supports our own growth strategy across the gas value chain and is also representative of our commitment to continued diversification and growth," said John Hewitt, CEO of Matrix Service Company. "This project is the first to be announced following our acquisition of Houston Interests in December 2016 and stands as proof of the significant engineering bench strength we gained through this acquisition."
Said Matrix PDM Engineering President, Brad Rinehart, "We are extremely proud of our newest employees and the expertise they bring to our organization across the energy, power and industrial markets. We appreciate the trust the client has placed in us and look forward to working in partnership to complete this project."
The project was awarded in December 2016 and is expected to be complete by December 2017.
About Matrix Service Company
Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service, 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
This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as "anticipate," "continues," "expect," "forecast," "outlook," "believe," "estimate," "should" and "will" and words of similar effect that convey future meaning, concerning the Company's operations, economic performance and management's best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the "Risk Factors" and "Forward Looking Statements" sections and elsewhere in the Company's reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.
For more information, please contact: Matrix Service Company Kevin S. Cavanah Vice President and CFO +1-918-838-8822 Email: kcavanah@matrixservicecompany.com
top