January 24, 2018
MATRRIX Energy Technologies Inc. announced a reorganization that sees the head of its rig division take on the role of President and CEO of the corporation.
Lyle Whitmarsh has assumed the role of President & Chief Executive Officer of MATRRIX and become a member of the board of directors, leaving his previous role as President – Rig Division of the corporation.
Rick Ryan, the former President & CEO and a director, has left the Corporation to pursue other opportunities.
“MATRRIX would like to thank Rick for his many contributions to MATRRIX since its formation,” said Thane Russell, Chairman of the Board of Directors. “We wish him well in his future endeavours.”
Whitmarsh joined the company in August, 2017.
MATRRIX began operations in 2011 as a pure play horizontal and directional competitor in Western Canada. The company grew its concurrent capacity of horizontal and directional drilling systems organically with the acquisition and assembly of 25 systems.
Last year, MATRRIX embarked on a strategy to expand into the land based contract drilling business. Consistent with that strategy, MATRRIX purchased six drilling rigs in two separate transactions in late last year, and with the recent closing of the acquisition of D2 Drilling Inc., Stampede has a fleet of seven modern telescopic double drilling rigs serving clients in the southeast Saskatchewan market.