Published on Tuesday, January 9, 2018

Sand control specialist, RGL Reservoir Management Inc., closes corporate recapitalization

Calgary, Alberta, January 8, 2018 - RGL Reservoir Management Inc. (“RGL” or the “Company”), a market leader in sand control solutions for the world’s most challenging reservoirs, is pleased to announce that on December 21, 2017 it completed a recapitalization of its balance sheet. This recapitalization reduces RGL’s long-term debt by more than 80% and its annual cash interest by approximately 95%. In conjunction with the recapitalization, RGL is securing a new credit line that will be used to fund growth. Going forward, RGL remains conservatively capitalized, with the continued support of lenders and shareholders, to pursue organic and strategic growth initiatives.

Rene VandenBrand, CEO stated, “the transaction provides a long-term solution to our capital structure and allows us to continue to invest in our business.”

From a business perspective, the Company enters 2018 with a strong focus on being the premier provider of integrated sand control and flow control solutions, worldwide and continues its emphasis on cost control and innovation. Over the past two years, RGL has rationalized its manufacturing footprint to reduce its fixed cost structure, while positioning the company to develop and deliver high quality integrated solutions. Investments in R&D and the recruitment of senior level geo-engineers, have resulted in the expansion of RGL’s proSERIES™ sand control portfolio from slotted and patented seamed liners, proSTRAIGHT™ and proSEAM™, to premium screens, with proWRAP™ and proPUNCH™. In addition, RGL engineers and manufactures inflow control devices (ICDs) and outflow control devices (OCDs) for heavy oil wells and recently launched proLab™, RGL’s sand control testing services in Leduc, Alberta. The Company’s Canadian production facilities are quality certified to ISO 9001:2015.

RGL Reservoir Management Inc.
RGL engineers and manufactures sand control and flow control products for highly challenging reservoirs. We use innovation and technology to build value for our customers by understanding their reservoirs, and providing the right solution for long-term performance.

For more information contact:
Hansine Kostelecky, CFO
403.835.9780
hkostelecky@rglrm.com

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