CALGARY, ALBERTA–(Marketwired – May 24, 2013) – Xtreme Drilling and Coil Services (TSX:XDC) announces that the Board of Directors of the company have approved the appointment of Mr. David W. Wehlmann to Xtreme’s Board of Directors effective May 23, 2013.
Appointment of David Wehlmann to Board
The Board is pleased to announce the appointment of David Wehlmann as an independent director of Xtreme. During the process of identifying candidates the Board sought individuals with strong experience and expertise in the Company’s core operating markets. Currently the US drilling segment represents over 70% of total revenue for Xtreme. As such, Mr. Wehlmann’s significant experience in the US land drilling market along with his strong financial background will complement the skills represented by the current Board.
Mr. Wehlmann is a Certified Public Accountant with over 30 years of leadership experience in the oil and gas industry. He is currently a director with Omega Protein Corporation. Previously Mr. Wehlmann was Executive Vice President, Investor Relations, with Precision Drilling Corporation. Prior to that, Mr. Wehlmann had 12-year tenure with Grey Wolf, Inc., a US land based drilling contractor with a fleet of 122 drilling rigs. At Grey Wolf, Mr. Wehlmann held the position of Executive Vice President and Chief Financial Officer. He holds a Bachelor of Business Administration Degree from Texas A&M University and received his CPA designation in 1982.
Xtreme Drilling and Coil Services Corp. (“XDC” on the Toronto Stock Exchange) designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units featuring leading-edge proprietary technology including AC high capacity coil injectors, deep re-entry drilling capability, modular transportation systems and continuous integration of in-house advances in methodologies.
Currently Xtreme operates two service lines: Drilling Services (XDR) and Coil Services (XSR) under contracts with oil and natural gas exploration and production companies and integrated oilfield service providers in Canada, the United States and Saudi Arabia. For more information about the Company, please visit www.xtremecoil.com.