Black Diamond Group Limited, a provider of workforce modular accommodations, has signed on two new customers from the oil sands of Alberta. — Photo courtesy http://www.blackdiamondlimited.com
Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX:BDI), a leading provider of workforce accommodation and modular workspace solutions, recently announced that it has signed two customers to new contracts for an existing 700 bed workforce accommodation facility in the steam assisted gravity drainage ("SAGD") region of Alberta's oil sands. The contracts, which were signed through Black Diamond's Nehiyawak partnership, are for full turnkey accommodation services with a combined minimum revenue of $13.4 million over a seven month period.
"This is further evidence that activity in the SAGD region of Alberta's oil sands is ongoing despite low oil prices," said Trevor Haynes, Chairman and CEO of Black Diamond. "The strategic location of our facilities and our partnerships with First Nations communities continue to help us secure new business."
The contracts are effective between October 1, 2015 and April 30, 2016 and will not require any additional capital to be deployed.
About Black Diamond
Black Diamond rents and sells portable workforce accommodation and work space solutions to business customers in Canada, the United States and Australia. We also provide specialized field rentals to the oil and gas industries of Canada and the United States. In addition, we provide turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance and ancillary field equipment rentals. From twenty locations around the world, we serve multiple sectors including oil and gas, mining, power, construction, engineering, military, government and education.
