Willbros Awarded Additional Projects in Canada
- Aggregate value of C$55.0 million
- Small capital construction
- Barge move
- CCO spools
- Hydrotransport piping
- New tankage at mine site in Wood Buffalo Region
HOUSTON, June 2, 2015 /PRNewswire/ -- Willbros Group, Inc. (NYSE: WG) announced today that it has received multiple new contract awards in Canada, with an aggregate contract value of approximately $C55.0 million. The Canada fabrication operation has been awarded a contract for Chromium Carbide Overlay of spools for hydrotransport and tailings applications for a mine site in the Wood Buffalo Region. The Industrial Construction Services ("ICS") business unit will provide mechanical construction services for diluent capacity increase at a terminal project near Anzac, Alberta. The Construction and Maintenance ("C&M") group will provide general mechanical work and another tailings barge move at a mine site in Northern Alberta. Finally, Willbros Canada has won two recent contract awards with a major construction project at an oil sands mine location in Wood Buffalo, for hydrotransport corridor piping along with five field erected storage tanks.
Andrew Jack, President, Willbros Canada, commented, "These awards underscore the safe, cost effective and timely delivery history Willbros Canada has established as it delivers responsible solutions for its customers in the oil sands of Northern Alberta. Our teams have established themselves as world class and we are gratified that they are being recognized with new work awards in this challenging environment. We look forward to working with our customer teams and delivering great value."
Willbros is a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. Our offerings include engineering, procurement and construction (either individually or as an integrated EPC service offering), maintenance, facilities development and operations services. For more information on Willbros, please visit our web site at www.willbros.com.
This announcement contains forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from these statements, including unanticipated accounting or other issues regarding any material weaknesses in internal control over financial reporting; inability of the Company or its independent auditor to confirm relevant information or data; unanticipated issues that prevent or delay the Company's independent auditor from completing its review of financial statements or that require additional efforts, procedures or review; the untimely filing of financial statements; pending and potential investigations and lawsuits; the identification of one or more issues that require restatement of one or more other prior period financial statements; ability to remain in compliance with, or obtain waivers under, the Company's existing loan agreements; ability to dispose of businesses and assets in a timely manner at reasonable valuations; the existence of other material weaknesses in internal control over financial reporting; contract and billing disputes; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades and development trends of the oil, gas, power, refining and petrochemical industries; as well as other risk factors described from time to time in the Company's documents and reports filed with the SEC. The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
CONTACT:
Michael W. Collier
SVP Investor Relations
Marketing & Communications
Willbros
713-403-8038
SOURCE Willbros Group, Inc.
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