Quanta Services Selected by Enbridge for Line 78 Pipeline Project

Includes Installation of 79 Miles of 36" Diameter Mainline Pipe & Associated Facilities Work

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Feb 02, 2015, 06:07 ET

HOUSTON, Feb. 2, 2015 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) today announced that Price Gregory International, (Price Gregory), a Quanta Services company, was selected by Enbridge Energy, Limited Partnership (Enbridge) for the Line 78 Pipeline Project (Line 78). Price Gregory's scope of work includes the construction and installation of approximately 79 miles of new 36-inch diameter crude oil mainline pipe, which will begin at Enbridge's Flanagan Terminal near Pontiac, Ill., and travel northeast to Enbridge's terminal near Griffith, Ind. In addition, Price Gregory was selected to build and install the pumping station for Line 78 at the Flanagan Terminal and to make modifications to the Griffith terminal.

Construction of the Flanagan pumping station and modifications of the Griffith terminal began in late 2014. Construction of the Line 78 pipeline is expected to begin this March with completion anticipated in the fall of 2015.

Quanta continues to have a positive outlook for the North American mainline market. There are oil, natural gas and natural gas liquids mainline projects in various stages of development throughout North America that should move forward as they obtain regulatory approvals. Quanta is in active discussions with various customers about many of these projects.

About Quanta Services
Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power and oil and gas industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy infrastructure. Additionally, in certain markets Quanta licenses fiber optic telecommunications infrastructure, offers lit network management services and provides related design, procurement, construction and maintenance services. With operations throughout North America and in certain international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.

Forward-Looking Statements
This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to: any expected value of the contract with Enbridge; the scope, services, terms and results of the project awarded under the contract; the anticipated commencement and completion dates for the project; the safety, efficiency or success of the project; potential opportunities that may be indicated by bidding activity or similar discussions with customers; the impact of the project on refining or transportation capacity in the region; expectations regarding the business outlook, growth or opportunities in particular markets; the business plans or financial condition of customers; the current economic and regulatory conditions and trends in the industries Quanta serves; and prospective growth in the demand for mainline pipe or related oil and gas infrastructure, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts. Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements can be affected by inaccurate assumptions and by a variety of risks and uncertainties that are difficult to predict or beyond our control, including, among others, the effects of industry, economic or political conditions outside of the control of Quanta; successful performance and completion of the contract and the project awarded thereunder; failure to realize the anticipated value of the contract or the project; the potential for incurrence of damages or other claims for schedule delays or performance shortfalls, including as a result of warranty claims following completion of the project; the effect of natural gas, natural gas liquids and oil prices on operations and growth opportunities; the future development of natural resources in unconventional shale formations and Canadian oil sands; the failure of subcontractors to perform their obligations, including warranty obligations, under their subcontracts; adverse changes in economic conditions and trends in relevant markets; future growth in the oil and gas industry; delays, reductions in scope or cancellations of the contract or the project awarded thereunder, including as a result of weather, regulatory or environmental issues; cancellation and termination provisions present in the contract; and other factors affecting the business of Quanta generally, including risks detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2013, Quanta's Quarterly Reports on Form 10-Q for the applicable quarters in 2014 and any other documents filed by Quanta with the Securities and Exchange Commission (SEC). Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made regarding the subject matter of this press release by any third party. For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's web site at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov.