Mullen-Producers joint venture called Horizon North Logistics; new execs named

CALGARY — Mullen Group Income Fund and Producers Oilfield have announced the senior management team for the new public joint venture the two firms created last month.

Mullen and Producers — two of the largest oil field services carriers in Alberta — merged in February as a result of an agreement worth close to $1 billion.

It is anticipated that the new company will be named “Horizon North Logistics Inc”.

Joining Producers President Ric Peterson, who will act as chairman and CEO of the new company, will be R.J. (Rob) Hunt as president and Bob German as vice-president, finance and chief financial officer.

Recently retired from a major drilling contractor, where he held the position of senior vice-president, Hunt has extensive experience working throughout Western Canada, Northern Canada and Alaska and is a leader in developing successful business partnerships with aboriginal corporations and communities.

German joined Producers on January 1, 2006 in the role CFO. He is a chartered accountant with over 20 years experience, 13 of which have been in the oil and gas industry or oil and gas service industry.

The formation of Horizon North Logistics Inc. and the associated executive appointments is expected to take place as part of the anticipated Plan of Arrangement under which the businesses of Mullen and Producers will be combined.

It is expected that the shareholder and unitholder meetings related to the approval of the plan will be held in May 2006.