March 10, 2016 - 10:25 PM EST
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Xtreme Drilling and Coil Services Reports Full Year 2015 Financial and Operating Results, 2016 Outlook, and Executes Amended and Restated Credit Agreement

CALGARY, ALBERTA--(Marketwired - March 10, 2016) - Xtreme Drilling and Coil Services Corp. ("Xtreme", the "Company") (TSX:XDC) announce fourth quarter and full year 2015 financial and operating results. It is anticipated that filing will take place on SEDAR of annual audited Consolidated Financial Statements as well as Management's Discussion and Analysis for the year ended December 31, 2015, the week of March 14, 2016.

2015 Highlights

(amounts in thousands of Canadian dollars, unless otherwise noted)

  • Adjusted EBITDA of $9.9 million in the fourth quarter of 2015, down from $15.4 million in the previous quarter. For the year ended December 31, 2015, adjusted EBITDA decreased 21 percent to $61.2 million as compared to $77.0 million in 2014. Adjusted EBITDA margin as a percent of revenue marginally decreased in 2015 to 27.6% from 28.8% in 2014.
  • Revenue of $45.4 million in the fourth quarter of 2015, a decrease of 13 percent from $52.2 million in the previous quarter. For the year ended December 31, 2015, the Company recognized revenue of $221.4 million, a decrease of 17%, or $46.1 million from 2014. The decrease in revenue for the year was primarily a function of decreased operating days and utilization in the US and Canadian Drilling Segments. Total operating days across the Company decreased to 6,057 for 2015 as compared to 8,135 in 2014.
  • For the fourth quarter, overall revenue per operating day decreased by 4% to $34,300 from the prior quarter, driven by lower rates across operations in the United States. XDR drilling revenue per day decreased by 10% during the quarter to $25,066 while XSR coiled tubing revenue per day decreased by 2% during the fourth quarter to $56,314.
  • For the fourth quarter, the Drilling Segment achieved utilization of 48% on 932 operating days. This was comprised of a 53% utilization rate for the 16 rig US XDR fleet, 3% for the three rig Canadian XDR fleet and 77% for the two rigs in India. For the year ended 2015, the Drilling Segment achieved utilization of 58% on 4,458 operating days. This was comprised of a 62% utilization rate for the 16 rig US XDR fleet and 15% for the three rig Canadian XDR fleet. The two XDR rigs that operated in India achieved a 93% utilization for the year. At the end of the fourth quarter six rigs were operating in the United States and no rigs were operating in Canada. The two rigs in India drilled the contract's final wells in early December and commenced winding down of operations toward the end of the year.
  • For the fourth quarter, the Coil Services Segment achieved utilization of 61% on 392 operating days. This was comprised of a 97% utilization rate for the two XSR units in Saudi Arabia and a 65% utilization rate for the five actively marketed XSR units in the US. Included in the total Coil Services utilization is one additional unit that is currently idle in the US, but is actively being marketed internationally. The US XSR units for the quarter averaged 11 to 16 operating days per month on each unit. For the year ended 2015, the Coil Services Segment achieved utilization of 63% on 1,599 operating days. This was comprised of a 98% utilization rate in for the two XSR units in Saudi Arabia and a 57% utilization rate for the five actively marketed XSR units in the US.
  • The Drilling Segment (which includes US, Canada and India) operating profit decreased to $48.9 million in 2015 as compared to $58.5 million the previous year. This was driven primarily by lower revenues in US and Canadian segments. Overall operating margin increased to of 37.2% in the Drilling Segment as compared to 31.8% in 2014. This was a function of greater cost controls and contract termination revenue.
  • The Coil Services Segment (which includes US and Saudi Arabia) operating profit decreased to $31.2 million in 2015 as compared to $34.8 million in the previous year. This was driven by higher operating expenses in the US segment as well as lower pricing on the international project. Overall operating margin as a percent of revenue decreased to 34.7% in 2015 from 41.5% in 2014.
  • Total capital expenditures were $20.0 million during 2015. This is $2 million lower than the planned capital budget of $22 million and down from total capital expenditures of $65.3 million in 2014. The decrease is attributable to the completion of the XSR coiled tubing unit new build program.
  • During the fourth quarter the Company recognized $2.6 million in early termination revenue on the take or pay contracts. Year-to-date Xtreme has recognized $14.3 million in early contract termination revenue. At the end of the quarter, the Company had approximately 980 days contracted under term contracts across the fleet.
  • The Company reviews the carrying value of its long-lived assets at each reporting period for indicators of impairment. During the year ended December 31, 2015, the decline in oil and natural gas prices resulted in significant decreases in industry activity, adversely impacting current and expected future business and estimated recoverable amounts. As a result of the indicators and as required under IFRS, the Company performed a comprehensive assessment of the carrying values of property and equipment for each of its cash generating units. The recoverable amount of each cash generating unit was determined using higher of fair value less cost of disposal or value in use. Fair value based on an independent valuation report and comparable transactions in the market. Value in use was determined using a pre-tax discounted cash flow model. For the year ended December 31, 2015, the Company recorded an impairment charge on assets of $38.4 million.
  • The Company finished 2015 with $107.3 million in total debt and $96.1 million in net debt (total debt less cash). The funded debt to EBITDA ratio was 1.7x and the net debt to EBITDA was to 1.5x. This is consistent with the 1.7x and 1.5x respectively at year end 2014. On a US Dollar basis, in which the Company primarily borrows, the funded debt decreased $32.0 million USD during 2015 to an ending balance of $78.0 million USD.
  • On March 10, 2016, the Company reached an agreement with a syndicate of financial institutions to enter into an amended and restated senior credit facility for $90 million USD. The new credit facility consists of a tranche of $78 million denominated in USD, and a $12 million USD-equivalent tranche, available in CAD and/or USD. The amended facility extends the maturity of the current outstanding debt from December 27, 2016, to January 2, 2018, and provides a source of liquidity for the Company. Among other changes, the amended and restated facility gives the Company financial flexibility, including increasing the funded debt to EBITDA covenant to 3.00x through the quarter ending March 31, 2016, to 3.25x through the quarter ending June 30, 2017 and 3.00x thereafter.
  • In response to the decrease in drilling and coil service activity, the Company has decreased the estimated capital budget to approximately $9.0 million for 2016. The current budget estimate includes all maintenance, critical spare and upgrade capital for the existing fleet. Xtreme anticipates that all capital expenditures will be funded exclusively through operating cash flow.
  • At year end the Company had six of 21 XDR rigs operating and six of ten XSR units operating. Currently the Company has four of 21 XDR rigs earning revenue with a fifth rig set to commence drilling in the next week. In addition, the Company is earning standby revenue on two rigs demobilizing from India to the United States.

Selected Quarterly Financial Information
(unaudited)

Three months ended   Dec 31, 2015     Sep 30, 2015     Jun 30, 2015     Mar 31, 2015
Revenue   45,438     52,238     53,668     70,015
Adjusted EBITDA   9,911     15,444     15,036     20,761
Adjusted EBITDA as a percentage of revenue   22     29     28     30
Adjusted EBITDA per share - basic ($)   0.11     0.18     0.18     0.25
Net (loss) income   (21,728 )   (48,595 )   (776 )   2,755
Net (loss) income per share - basic ($)   (0.27 )   (0.59 )   (0.01 )   0.03
Capital assets   446,417     445,591     473,030     488,300
Total assets   512,226     528,120     567,050     592,194
Net debt   96,123     93,389     112,133     126,869
Operating days   1,324     1,459     1,451     1,823
Utilization (percentage) - XDR   48     55     56     73
Utilization (percentage) - XSR   61     60     61     71
Utilization (percentage) - Total   51     56     57     73
Weighted average rigs in service   31.0     30.0     30.0     30.0
Total rigs, end of quarter   31     31     30     30
    Dec 31, 2014     Sep 30, 2014     Jun 30, 2014     Mar 31, 2014
Revenue   69,459     65,980     62,299     69,703
Adjusted EBITDA   18,617     18,299     19,421     20,635
Adjusted EBITDA as a percentage of revenue   27     28     31     30
Adjusted EBITDA per share 1 - basic ($)   0.23     0.22     0.24     0.25
Net (loss) income   (2,258 )   853     (902 )   2,896
Net (loss) income per share - basic ($)   (0.03 )   0.01     (0.01 )   0.04
Capital assets   452,974     443,304     413,296     423,204
Total assets   547,958     536,713     513,651     532,116
Net debt   115,520     116,768     105,358     125,389
Operating days   2,053     2,173     1,779     2,130
Utilization (percentage) - XDR   86     92     75     90
Utilization (percentage) - XSR   74     73     68     78
Utilization (percentage) - Total   83     88     73     88
Weighted average rigs in service   28.0     28.0     28.0     28.0
Total rigs, end of quarter   29     28     28     28

Excerpt from Management's Discussion and Analysis
for the twelve months ended December 31, 2015

OUTLOOK

In the fourth quarter oilfield service activity continued to deteriorate as the active rig count in the US decreased by 17% from the third quarter and ended 2015 at 698 operating rigs. Through the end of February 2016 it has fallen to 502 working rigs, or a decrease of almost 1,200 from year ago levels. This rapid decrease in drilling activity has forced contractors to compete aggressively on price. In most resource plays spot day rates are down 35% to 45% from 18 months ago.

Despite the significant decrease in drilling rig activity, US oil production levels remained resilient through 2015. Total lower 48 production ended the year at 8.7 million barrels per day which was down from the June peak of 9.2 million barrels of production per day. The slower than forecast decrease in production has led to record levels of oil in storage and a further leg down in oil prices. As such, customer capital budgets have been decreased significantly in 2016 with most announcements in the range of 40% to 50% reductions from 2015 levels. This should lead to faster production declines in 2016 and the potential for a bottoming in oil prices. Oilfield service activity levels will likely remain depressed in 2016 with the potential for increased utilization in 2017. However, it is likely that pricing will remain down even after utilization begins to increase due to the large over supply of drilling and completion equipment.

Xtreme management moved quickly to decrease the Company's operating cost structure at the first sign of slowing activity levels in 2014. This early action along with subsequent measures helped to position the Company for the prolonged nature of the current downturn. The focus in 2016 will be to further solidify the balance sheet and maximize liquidity. As this cycle lingers liquidity will be even more important and could open up opportunities to acquire distressed assets or companies. When activity levels begin to improve it is clear that asset quality will be paramount. The drilling market has made what appears to be a fundamental shift to tier 1 rigs. According to industry sources the AC tier 1 rig count now stands at 257 active rigs or 60% of the total rig count. This is an all-time high market share for AC rigs and evidence that increased efficiency drives value. In most unconventional basins rig efficiency has significantly decreased well costs and allowed operators to drill up to 50% more wells per year than just three years prior. Xtreme's entire fleet of 21 drilling rigs are highly efficient AC electric tier 1 rigs.

In the Company's core US coiled tubing markets of the Eagle Ford and the Permian, customer preference has clearly shifted to larger diameter coiled tubing. This represents a complete change in mindset from 2012 when Xtreme first introduced 2 5/8" coil in Texas and 2" and smaller coil units dominated the market. The Company has now completed over 1,200 jobs and 82,000,000 round trip running feet over the past 3.5 years; the most of any large coil provider in the Eagle Ford or Permian. Due to the challenged environment it is likely that utilization and pricing will remain weakened as the rig count in the Eagle Ford has fallen by 129 rigs to just 29 currently operating. In addition, it is estimated that a drilled but uncompleted inventory of 3,000 wells currently exists in the Eagle Ford and West Texas. This has compounded the reduction in completion activity. However, as the industry begins to stabilize it is likely that most companies will initially focus on completing the significant inventory of drilled but uncompleted wells. These have the quickest cash conversion and lowest amount of capital outlay. For this reason we believe Xtreme's coiled tubing activity should increase before the Company's drilling activity.

Internationally the push for increased technology is expected to continue. Most international operators have not deployed the level of technology and thus achieved the same levels of efficiency as many US operators. The push in Saudi Arabia is for greater efficiency through the integration of technology across the service spectrum. The underbalanced coiled tubing drilling project that Xtreme is currently working on continues to produce outstanding performance and results. The Company is working harder than ever to leverage this success into increased revenue in Saudi and throughout the region.

Overall, Xtreme's leadership team has managed through both upswings and down markets. We understand the importance of cost management and a strong balance sheet in challenging times. The recent extension of the Company's credit facility provides the Company with continued balance sheet stability. In addition, the Company's leverage ratios are among the lowest in the industry, particularly as compared to similar sized competitors. Finally the industry leading XSR coil technology and 100% AC electric XDR drilling fleet is among the highest spec asset base in the industry. These factors should allow Xtreme to weather the current downturn and emerge as a stronger Company in the next up cycle.

Conference Call Details

Tom Wood, Chief Executive Officer, will host the conference call with participation from Matt Porter, President and Chief Financial Officer, and will answer questions from analysts and investors on Friday, March 11, 2016, beginning promptly at 9:00 am MT (10:00 am CT, 11:00 am ET).

To participate in the conference call, please dial in as follows approximately ten minutes before the start time in your time zone.

+1 800-952-6845 (North America Toll-Free) or +1 416-340-8527 (Alternate)

Webcast link: http://www.gowebcasting.com/7269

An audio replay of the call will be available until Friday, March 18, 2016. To access the replay, call +1 800-408-3053 or +1 905-694-9451 and enter pass code 9246719.

Xtreme Drilling and Coil Services Corp.
Consolidated Statements of Financial Position
At December 31, 2015 and December 31, 2014

(in thousands of Canadian dollars)
(unaudited)

    Dec 31, 2015     Dec 31, 2014  
             
Assets            
Current assets            
  Cash and cash equivalents   11,223     13,102  
  Accounts receivable   39,771     51,125  
  Other receivables   351     255  
  Prepaid expenses and other   2,461     1,998  
  Inventory   8,693     11,405  
    62,499     77,885  
Non-current assets            
Deferred tax asset   -     13,486  
Property and equipment   446,417     452,974  
Intangible assets   3,310     3,613  
Total Assets   512,226     547,958  
             
Liabilities and Shareholders' Equity            
Current liabilities            
  Accounts payable and accrued liabilities   29,729     39,738  
  Income tax payable   3,918     1,365  
  Current portion of provisions   -     1,740  
  Current portion of long-term debt   107,346     -  
    140,993     42,843  
Long-term liabilities            
Long-term debt   -     128,622  
Total Liabilities   140,993     171,465  
             
Shareholders' equity            
Share capital   331,083     330,964  
Share option reserve   17,910     14,803  
Accumulated deficit   (80,831 )   (12,487 )
Foreign currency translation reserve   103,071     43,213  
Total Shareholders' Equity   371,233     376,493  
Total Liabilities and Shareholders' Equity   512,226     547,958  

Xtreme Drilling and Coil Services Corp.
Consolidated Statements of (Loss) Income
For the years ended December 31, 2015 and 2014
(in thousands of Canadian dollars, except share and per share data)
(unaudited)

    2015     2014
           
Revenue   221,359     267,441
           
Expenses          
  Operating expenses   141,211     174,201
  General and administrative expenses   18,996     16,268
  Depreciation and impairment of property and equipment   97,832     56,158
  Amortization of intangibles   303     304
  Stock-based compensation   3,131     3,053
  Foreign exchange loss   2,205     262
  Loss on disposal of equipment   667     4,399
  Other (income) expense   (1 )   21
  Interest expense   4,502     4,572
  (Loss) income before tax for the year   (47,487 )   8,203
           
Tax expense          
  Current   7,054     6,752
  Deferred   13,803     862
  Total tax expense   20,857     7,614
           
           
Net (loss) income for the year   (68,344 )   589
           
           
Net (loss) income per common share          
  - basic   (0.84 )   0.01
  - diluted   (0.84 )   0.01
           
Weighted average number of          
  common shares          
  - basic   81,814,143     81,575,887
  - diluted   81,814,143     82,347,343

Xtreme Drilling and Coil Services Corp.
Consolidated Statements of Comprehensive (Loss) Income
For the years ended December 31, 2015 and 2014
(in thousands of Canadian dollars)
(unaudited)

    2015     2014  
             
Net (loss) income for the year   (68,344 )   589  
Other comprehensive income            
Items may be subsequently reclassified to profit or loss            
  Unrealized gain on translating            
    financial statements of foreign operations   59,858     28,070  
  Dividends declared to non-controlling interest partner   -     (1,332 )
             
Comprehensive (loss) income for the year   (8,486 )   27,327  

Xtreme Drilling and Coil Services Corp.
Consolidated Statements of Changes in Equity
For the years ended December 31, 2015 and 2014
(in thousands of Canadian dollars)
(unaudited)

    Equity attributable to the owners of the parent              
    Share capital   Share option reserve     Accumulated deficit     Foreign currency translation reserve   Total     Non-controlling interest     Total shareholders' equity  
Balance at Jan 1, 2014   328,416   12,419     (12,697 )   15,143   343,281     953     344,234  
Net income for the year   -   -     589     -   589     -     589  
Other comprehensive income                                      
Currency translation differences   -   -     -     28,070   28,070     -     28,070  
Dividends declared   -   -     -     -   -     (1,332 )   (1,332 )
Settlement of purchase   -   -     (379 )   -   (379 )   379     -  
Total comprehensive income   -   -     210     28,070   28,220     (953 )   27,327  
Employee share option scheme:                                      
Value of employees services   -   3,068     -     -   3,068     -     3,068  
Transfer from share option   684   (684 )   -     -   -     -     -  
Proceeds from shares issued   1,864   -     -     -   1,864     -     1,864  
Total transactions with owners   2,548   2,384     -     -   4,932     -     4,932  
Balance at Dec 31, 2014   330,964   14,803     (12,487 )   43,213   376,493     -     376,493  
Balance at Jan 1, 2015   330,964   14,803     (12,487 )   43,213   376,493     -     376,493  
Net loss for the year   -   -     (68,344 )   -   (68,344 )   -     (68,344 )
Other comprehensive income                                      
Currency translation differences   -   -     -     59,858   59,858     -     59,858  
Total comprehensive loss   -   -     (68,344 )   59,858   (8,486 )   -     (8,486 )
Employee share option scheme:                                      
Value of employee services   -   3,140     -     -   3,140     -     3,140  
Transfer from share option   33   (33 )   -     -   -     -     -  
Proceeds from shares issued   86   -     -     -   86     -     78  
Total transactions with owners   119   3,107     -     -   3,226     -     3,226  
Balance at Dec 31, 2015   331,083   17,910     (80,831 )   103,071   371,233     -     371,233  

Xtreme Drilling and Coil Services Corp.
Consolidated Statements of Cash Flows
For the years ended December 31, 2015 and 2014
(in thousands of Canadian dollars)
(unaudited)

    2015     2014  
             
Cash flow provided by:            
Operating activities            
Net (loss) income for the year   (68,344 )   589  
Items not affecting cash:            
  Depreciation, impairment, and amortization   98,135     56,462  
  Stock-based compensation   3,131     3,053  
  Unrealized foreign exchange loss   2,205     262  
  Loss on disposal of equipment   667     4,399  
  Provisions for doubtful accounts   (997 )   (110 )
  Interest expense   4,502     4,572  
  Interest paid   (4,704 )   (3,586 )
  Amortization of debt issuance costs   537     458  
  Current tax expense   7,054     6,752  
  Deferred tax expense   13,803     862  
  Taxes paid   (11,608 )   (4,749 )
  Changes in items of working capital   11,491     15,889  
Net cash generated from operating activities   55,872     84,853  
Financing activities            
Proceeds from exercise of stock options   86     1,864  
Proceeds from long-term debt   6,579     6,961  
Repayment of long-term debt   (51,465 )   (18,647 )
Debt issuance cost   -     (125 )
Net cash used in financing activities   (44,800 )   (9,947 )
Investing activities            
  Proceeds from sale of equipment   431     1,242  
  Capital expenditures   (19,987 )   (65,255 )
  Buyout of non-controlling interest partner   (1,962 )   (13,263 )
  Changes in items of working capital relating to capital items   (6,463 )   6,175  
Net cash used in investing activities   (27,981 )   (71,101 )
Effect of exchange rate changes on cash and cash equivalents   15,030     (2,923 )
(Decrease) increase in cash and cash equivalents   (1,879 )   882  
Cash and cash equivalents - beginning of year   13,102     12,220  
Cash and cash equivalents - end of year   11,223     13,102  

Xtreme Drilling and Coil Services Corp.
EBITDA and Adjusted EBITDA
For the years ended December 31, 2015 and 2014
(in thousands of Canadian dollars)
(unaudited)

    2015     2014
Net (loss) income   (68,344 )   589
Tax expense   20,857     7,614
Interest expense   4,502     4,572
Amortization of intangibles   303     304
Depreciation and impairment   97,832     56,158
EBITDA   55,150     69,237
           
           
    2015     2014
EBITDA   55,150     69,237
Adjustments for non-cash items   6,002     7,735
Adjusted EBITDA   61,152     76,972
Adjusted EBITDA per share ($)   0.75     0.97
Net (loss) income per share ($)   (0.84 )   0.07
           
           
    2015     2014
Stock-based compensation   3,131     3,053
Loss on disposal of equipment   667     4,399
Foreign exchange loss   2,205     262
Other (income) expense   (1 )   21
Total adjustments for non-cash items   6,002     7,735

Reader Advisory

This news release contains forward-looking statements ("FLS"). The use of the words "may", "believe", "could", "would", "might", "will be taken", "occur" or "be achieved" and similar expressions identify FLS. More particularly, this news release contains statements that may relate to contracting, marketing, financing, construction, modifications, deployment, operation, utilization of drilling rigs in the Company's current and future fleet. Although Xtreme believes expectations reflected in these FLS are reasonable, readers should not place undue reliance on them because Xtreme can give no assurance they will prove to be correct. There are many factors that could cause FLS not to be correct, including risks and uncertainties inherent in the Company's business.

These statements are based on certain factors and assumptions including, but not limited to: the assessment of current and projected future operations; ongoing and future strategic business alliances, negotiations and opportunities to enter new, extend or complete existing contracts; the availability and cost of financing; foreign currency exchange rates; timing and magnitude of capital expenditures; expenses and other variables affecting rig operation, modification and construction; the ability and commitment of vendors to provide rig component equipment, services and supplies, including labor, in a cost-effective and timely manner; the issuance of applied-for patents; changes in tax rates; and government regulations. Although Xtreme considers the assumptions used to prepare this news release reasonable, based on information available to management as of March 10, 2016, ultimately the assumptions may prove to be incorrect.

Forward-looking statements are also subject to certain factors, including risks and uncertainties, which could cause actual results to differ materially from management's current expectations. These factors include, but are not limited to: the cyclical nature of drilling market demand, foreign currency exchange rates, and commodity prices; access to credit and to equity markets; the availability of qualified personnel; vendor-provided rig components; and, competition for customers.

Management's assumptions considered the following: compliance with the terms of the Company's current and proposed new credit facility; ongoing access to key supplies and components required to continue operating and maintaining equipment, including fuel; continued successful performance of drilling and related equipment; expectations regarding gross margin; recruitment and retention of qualified personnel; continuation or extension of existing long-term or multi-well contracts; revenue expectations related to shorter-term drilling opportunities; willingness and ability of customers to remit amounts owing to Xtreme in accordance with normal industry practices; and management of accounts receivable in direct relation to revenue generation.

In preparing this news release, management considered the following risk factors: fluctuations in crude oil and natural gas prices, supply and demand; fluctuation in foreign currency exchange and interest rates; financial stability of Xtreme's customers; current and future applications for Xtreme's proprietary technology; competition from other drilling contractors; regulatory and economic conditions in regions where Xtreme operates; environmental constraints; changes to government legislation; international trade barriers or restrictions; and, where appropriate, global political and military events.

Financial outlook information contained in this news release about prospective results of operations, financial position or cash provided by operating activities is based on assumptions about future events, including economic conditions and proposed courses of action, and on management's assessment of relevant information currently available. Readers are cautioned such financial outlook information contained in this news release is not appropriate for purposes other than for which it is disclosed here. Readers should not place undue importance on FLS and should not rely on this information as of any other date. Except as required pursuant to applicable securities laws, Xtreme disclaims any intention, and assumes no obligation, to update publicly or revise FLS to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such FLS or otherwise, or to explain any material difference between subsequent actual events and such FLS.

About Xtreme

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.

Xtreme Drilling and Coil Services Corp.
Matt Porter
President and Chief Financial Officer
+1 281 994 4600
ir@xtremecoil.com
www.xtremecoil.com


Source: Marketwired (March 10, 2016 - 10:25 PM EST)

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