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Matrix Service Company Announces Substantial Completion of Ryckman Creek Gas Compressor and Storage Facility

TULSA, Okla., Dec. 15, 2015 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that its subsidiary, Matrix Service Inc. has reached substantial completion on the rebuild of the Ryckman Creek Resources, LLC gas compressor and storage facility in Wyoming’s Green River Basin.

Originally contracted in August 2014 to provide mechanical and construction services to rebuild the Nitrogen Rejection Unit, which had been damaged in an earlier fire, Matrix Service was subsequently contracted to rebuild the entire facility.

“We discovered significant issues early on that required a tremendous amount of work to be done within a very tight time frame,” said Roger Kelley, president and CEO of Ryckman Creek Resources, LLC, a subsidiary of Peregrine Midstream Partners. “That meant constructing at the same time as we were engineering which is always difficult, but Matrix was very flexible, consistently offered up solutions and managed the work under extremely difficult circumstances. We’re very happy with the quality of the work and the speed at which it was done.”

The landmark project for Matrix Service represents further extension of the Company’s expertise as a top-tier contractor into the gas value chain, a strategic focus area for the Company.

Said Matrix Service Company president and CEO John Hewitt, “We are extremely proud of our people for the work they completed for Ryckman Creek Resources. We also appreciate our client’s trust in us and the opportunity to help them bring this facility online.”

About Matrix Service Company

Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service, Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America’s energy, power and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada.

The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial.

To learn more about Matrix Service Company, visit matrixservicecompany.com

This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

Matrix Service Company Kevin S. Cavanah Vice President and CFO T: 918-838-8822 Email:kcavanah@matrixservicecompany.com

Source:Matrix Service Company