Quanta Services Selected by Rockies Express Pipeline for the REX Zone Three Capacity Enhancement Project

Quanta Providing Turnkey Engineering, Procurement & Construction Solutions

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Aug 31, 2015, 07:07 ET

HOUSTON, Aug. 31, 2015 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) announced today that Rockies Express Pipeline LLC (REX), selected Quanta Services to provide turnkey engineering, procurement and construction services for the REX Zone Three Capacity Enhancement Project. Quanta subsidiaries QPS Engineering and Price Gregory International will play key roles in the project, which includes the installation of three new compressor stations and the upgrade of two existing compressor stations. As the only domestic pipeline that links the Rocky Mountain and Appalachian supply basins to the Midwest and Gulf Coast markets, REX provides an important outlet for producers moving natural gas from the Rockies and Utica/Marcellus shale plays to these major consumer markets which serve millions of natural gas consumers.

Quanta has commenced engineering and other front-end services for the project, with construction expected to begin in the second quarter of 2016 or when REX receives the required regulatory approvals. Subject to obtaining these approvals, completion is expected in the fourth quarter of 2016. Once the project is complete, the new and upgraded facilities are expected to create up to 800,000 dekatherms a day of additional natural gas takeaway capacity from the Appalachian Basin to the Midwestern and other high-demand natural gas markets.

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. With operations throughout the United States, Canada and Australia and in select other 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; the scope, services, terms and results of the project awarded under the contract with the customer; the anticipated commencement and completion dates for the project; the safety, efficiency or success of the project; the impact of the project on transportation capacity, growth or opportunities in particular markets; Quanta's plans and strategies; and prospective growth in the demand for 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 claims or damages associated with 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 the customer's capital program; the inability of the customer to pay for Quanta's services; failure of the customer to comply with applicable regulatory requirements, which could result in delay or cancellation of the project; the future development of natural resources in unconventional shale formations; 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, project performance issues, or customer capital constraints; 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, 2014, Quanta's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015, and any other documents filed by Quanta with the Securities and Exchange Commission (SEC). 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 website at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. 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 by any third party regarding the subject matter of this press release.