Bri-Chem Opens New Texas, USA Based Drilling Fluids Warehouse
* Reuters is not responsible for the content in this press release.
Marketwire Bri-Chem Corp. March 27, 2013 - 03:56:25 PM Bri-Chem Opens New Texas, USA Based Drilling Fluids Warehouse EDMONTON, ALBERTA--(Marketwire - March 27, 2013) - Bri-Chem Corp. ("Bri-Chem" or "Company") (TSX:BRY) a leading North American wholesale distributor and manufacturer of oil and gas drilling fluids and steel pipe is pleased to announce that it has further expanded its footprint in the USA drilling fluids market by adding a new strategically located warehouse for distribution of drilling fluid products and stimulation additives in Big Spring, Texas. The new location is situated 45 minutes east of Midland, Texas off of Interstate 20 and is located in the yard of Bri-Chem's transportation partner who will handle delivery of their drilling fluid products. The drilling activity that Bri-Chem is targeting to service with the new location is within the Cline formation in Texas, which lies inside the borders of the Permian Basin. The Company has also closed and moved out of its Ulster, Pennsylvania warehouse as drilling activity has shifted to the central and southern part of the state and can now be serviced out of its Leetsdale, Pennsylvania warehouse. About Bri-Chem Since our formation in 1985, Bri-Chem has established two primary segments of business through a combination of internal growth and acquisitions: Bri-Chem's Drilling Fluid Division is North America's largest independent wholesale supplier of drilling fluids for the oil and gas industry. We provide over 100 drilling fluid products, cementing, acidizing and stimulation additives from 30 strategically located warehouses throughout Canada and the United States; Bri-Chem's Steel Pipe Division is the first company to introduce and construct a Thermal Pipe Expansion (TPE) facility in North America for manufacturing, testing and supply of large diameter seamless steel pipe for the energy industry. Additional information about Bri-Chem is available at www.sedar.com or at Bri-Chem's website at www.brichem.com. Forward Looking Statements Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, demand for oilfield services for drilling and completion of oil and natural gas wells; volatility in market prices for steel, oil, natural gas, and natural gas liquids and the effect of this volatility on the demand for oilfield services generally, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. To receive Bri-Chem news updates send your email to firstname.lastname@example.org. FOR FURTHER INFORMATION PLEASE CONTACT: Bri-Chem Corp. Jason Theiss CFO (780) 577-0595 email@example.com CHF Investor Relations Juliet Heading Account Manager (416) 868-1079 x239 firstname.lastname@example.org CHF Investor Relations Cathy Hume CEO (416) 868-1079 x231 email@example.com firstname.lastname@example.org Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.