Stock Guru LXES Profile
Boom Region – Lexington Energy Services is headquartered in Calgary. Lexington Services, Inc. has three business operations that focus on supplying high-demand equipment and services to the oil and gas industry. These include equipment leasing, custom equipment manufacturing, and drilling services through Lexcore. Calgary is the central location of Canada’s oil sands exploration. The Calgary facility includes a 15,000 square foot manufacturing and fabrication space as well as offices. The facility also serves as a center for in-house engineering/design, human resources, accounting, and an in-house employee office and development center.
Lexcore’s headquarters serve as the dispatch operations center, facilitating the effective coordination of people and equipment on a company and province-wide basis – twenty-four hours a day, seven days a week.
Currently, Lexington has more than thirty employees providing service to oil and gas exploration companies operating in Alberta and northeastern British Columbia.
The Three Deposit Areas:
There are three areas of oil sands deposits in Alberta which is located in western Canada: the Peace River Deposit located in Western Alberta, the Athabasca located in the Northeast of Alberta, and the Southeastern Alberta holds the Cold River Deposit. This is mountainous and beautiful terrain. Canada requires environmentally friendly activites. Lexinton Energy Services, Inc. adheres to and improves upon all environmental standards.
Oil and gas development, like any human activity, affects the environment, but occurs in Alberta only under strict, government-approved standards. Statistics Canada reports that the oil and gas industry spends more on the environment than any other Canadian industry. Oil and gas companies are working to continuously improve their environment, health, safety and social performance through programs such as CAPP’s Stewardship initiative. The industry’s compliance with major Alberta Energy and Utilities Board regulations was 98.2 per cent in 2005.
The Lexcore drilling system leaves a smaller environmental footprint using about have the size of a conventional rig. Oil and gas companies are required to pay stumpage fees for the trees cut down in establishing their oil exploration and production areas.
Source: Lexington Energy Services Inc. and CAPP
CONTACT: Lexington Energy Services Inc., Mark Procknow, Investor Relations, Calgary, 1-877-279-4550
About Lexington Energy Services Inc.: Lexington Energy Services Inc. manufactures and leases innovatively designed oilfield service equipment. Through their wholly owned subsidiary, Lexcore Services Inc., we also provide a range of drilling services to meet the growing needs of the oil and gas industry, including Alberta’s oil sands.
Forward-Looking Statements: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Lexington’s filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
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