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Aveda Transportation and Energy Expands North American Oilfield Operations with Acquisition of Belair Rentals - Video News Alert Posted on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2013) - Aveda Transportation and Ener...
About this update from Aventis Energy Inc
[{"type":"text","content":"Aveda Transportation and Energy Expands North American Oilfield Operations with Acquisition of Belair Rentals – Video News Alert Posted on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - November 8, 2013) - Aveda \n Transportation and Energy Services (TSXV: AVE) announced the acquisition of \n Edson, Alberta-based Belair Rentals. In addition to the acquisition of 23 \n well-site shacks, 22 light towers, 43 pieces of safety matting, 19 rig mats, 16 \n environmental fuel tanks, other various rental assets and working capital, \n existing Belair management will also join the Aveda team.\nInvestmentPitch.com has produced a \"video news alert\" based on this news. If this link is not \nenabled, please visit www.InvestmentPitch.com and enter \"Aveda\" in the search box.\n\nIf you cannot view the video above, please visit: \n http://www.investmentpitch.com/video/0_nbje7y9h/Aveda-Transportation-and-Energy-Services-TSXV-AVE-Acquires-Belair-Rentals\n\"We are thrilled to be joining a dynamic and growing company \nlike Aveda,\" stated Brian Pillage, former-President of Belair Rentals.\nAveda provides specialized \ntransportation services and equipment required for the exploration, development \nand production of petroleum resources in the Western Canadian Sedimentary Basin \nand in the United States of America principally in and around the states of \nTexas and Pennsylvania. Transportation services include both the equipment \nnecessary to move the load as well as a trained, professional driver capable of \nsecuring, moving and manipulating the load at its origin and destination. \nAveda's rental operations include the rental of tanks, mats, pickers, light \ntowers and additional equipment necessary for oilfield operations.\nKevin Roycraft, President and CEO of Aveda stated, \n\"Acquiring Belair Rentals will allow us to raise our profile and access a \nrange of conventional and unconventional wellsites in the Cardium formation and \nin the Montney and Duvernay shales. It will also allow us to improve the \nutilization of existing assets that can be redeployed to regions with greater \ndemand.\"\nThe initial purchase price of $4 million consisting of $3.5 \nmillion in cash and one half million dollars in Aveda shares, could be increased \nby $500,000 to $1,500,000 in cash if Belair Rentals achieves certain targets in...