HOUSTON, July 24 /PRNewswire-FirstCall/ -- Boots & Coots International Well Control, Inc. (AMEX:WEL), the premier pressure control company for the oil and gas industry, announced today that it significantly expanded one of its two five-year SafeGuard contracts in Algeria with the signing of a new amendment worth $12.3 million in additional revenues. This raises the scope of services under contract in Algeria to $35.2 million. Services performed under these contracts include risk management and analyses as well as a comprehensive range of engineering services.
"We are in the second year of performing services in Algeria, and I believe this amendment for additional services is a testament to our recognized commitment to our customers and our results-driven performance," said Jerry Winchester, chief executive officer of Boots & Coots. "We continue to see opportunities around the globe for our risk management and prevention services, and with the addition of Hydraulic Well Control's services, we can leverage our footprint to serve more customers." Under the terms of the SafeGuard contracts, Boots & Coots will provide training, risk analyses, contingency planning and well inspections, as well as the prevention and control of blowouts and the prevention of risks related to installations. In addition to Algeria, Boots & Coots also currently performs services under SafeGuard contracts in Venezuela, Kazakhstan and India.
About Boots & Coots Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated oilfield services centered on the prevention, emergency response and restoration of blowouts and well fires as well as hydraulic workover/snubbing and hot tapping services around the world. Boots & Coots' proprietary risk management program, WELLSURE(R), combines traditional well control insurance with post-event response as well as preventative services, giving oil and gas operators and insurance underwriters a medium for effective management of well control insurance policies. The company's SafeGuard program, developed for regional producers and operators sponsored by Boots & Coots, provides dedicated emergency response services, risk assessment and contingency planning, and continuous training and education in all aspects of critical well management. For more information, visit the company's web site at http://www.boots-coots.com/ .
Certain statements included in this news release are intended as "forward- looking statements" under the Private Securities Litigation Reform Act of 1995. Boots & Coots cautions that actual future results may vary materially from those expressed or implied in any forward-looking statements. More information about the risks and uncertainties relating to these forward- looking statements are found in Boots & Coots' SEC filings, which are available free of charge on the SEC's web site at http://www.sec.gov/ .
Investor Contact: Jennifer Tweeton
VOLLMER
713-970-2100
Stan Altschuler / Miri Segal
Strategic Growth International
212-838-1444
DATASOURCE: Boots & Coots International Well Control, Inc.
CONTACT: investors, Jennifer Tweeton of VOLLMER, +1-713-970-2100, or ; or Stan Altschuler or Miri Segal, both of Strategic Growth International, +1-212-838-1444, or , all for Boots & Coots International Well Control, Inc.
Web site: http://www.boots-coots.com/
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