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2 Years : From Dec 2011 to Dec 2013
Willbros Group, Inc. (NYSE: WG) announced today that a unit of its Oil & Gas segment has been awarded a contract by Energy Transfer Partners, L.P. to construct a portion of the Red River Gathering Pipeline. The scope of work includes construction of 97 miles of 30" pipeline from Ardmore, OK to Denton, TX. Mobilization is underway and construction is scheduled to commence in early April.
Randy Harl, President and Chief Executive Officer, remarked, "We are very pleased to continue our relationship with Energy Transfer and look forward to supporting the expansion of their processing and gathering system. The significant growth in the midstream market is driving additional opportunities for our strategy to offer comprehensive services to project developments in the liquid-rich drilling plays such as the Woodford shale. This project supports both that strategy and our corporate value to offer timely, cost effective solutions to all our customers."
Willbros Group, Inc. is a global contractor specializing in energy infrastructure serving the oil, gas and power industries. Our offerings include engineering, procurement and construction (individually or as an integrated "EPC" service offering), refinery turnarounds, ongoing maintenance and other specialty services to industry and government entities worldwide. 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 the potential for additional investigations; disruptions to the global credit markets; the global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the possible losses arising from the discontinuation of operations and the sale of the Nigeria assets; the existence of material weaknesses in internal controls over financial reporting; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; ability to remain in compliance with, or obtain waivers under, the Company's loan agreements and indentures; 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; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries and changes in the political and economic environment of the countries in which the Company has operations; 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.
Michael W. Collier
Vice President Investor Relations
Sales & Marketing
Director Investor Relations