Black Diamond Signs Long-Term Accommodation Agreement at Sunday Creek Lodges
April 05 2011
CALGARY, ALBERTA--(Marketwire - April 5, 2011) - Black Diamond Group Limited ("Black Diamond" or "the Company") (TSX:BDI), a leading provider of modular accommodation and energy services in North America, is pleased to announce the Company's Camps and Logistics division has secured a long-term accommodation agreement for its Sunday Creek Lodges east of Conklin, AB.
The 18 month agreement, effective April 1, 2011, will supply workforce housing and amenities for a major Canadian oil company. The contract is valued at approximately $35 million and will utilize 70 per cent of the lodge's capacity.
Sunday Creek Lodges have been operating at near capacity since opening in December 2009 and feature executive and VIP-style accommodations, state-of-the-art industrial kitchen and dining facilities and professional-quality recreation facilities for workers in the oil sands region of northern Alberta.
"This agreement is further evidence of a resurgence of activity in the oil sands," said Trevor Haynes, President and CEO of Black Diamond Group. "We have been building solid relationships with the operators in the area and the certainty of non-speculative, long-term commitments such as this is a clear indication that our business will continue to thrive in this very active region."
About Black Diamond
Founded in 2003, Alberta-based Black Diamond Group Limited is a leading provider of temporary and permanent modular building and energy services products. Through its wholly-owned subsidiaries, Black Diamond Limited Partnership, Nortex Modular Leasing and Construction Company and through its 50% equity participation in the Black Diamond Dene Limited Partnership and Black Diamond West Moberly Limited Partnership, Black Diamond operates three complementary divisions in thirteen strategic locations across Canada and USA.
Black Diamond Camps and Logistics rents and sells remote workforce housing and provides associated services; BOXX Modular specializes in renting or selling a broad range of modular work space solutions and Black Diamond Energy Services rents and sells a full complement of oilfield equipment and services. Black Diamond provides world-class services to a full spectrum of industries including oil, gas, mining, power, construction, engineering, military, government and education.
Contact Information: Black Diamond Group Limited
President and Chief Executive Officer
(403) 264-9281 (FAX)
Black Diamond Group Limited
Vice President, Finance and Chief Financial Officer
(403) 264-9281 (FAX)