HOUSTON, Sept. 28, 2015 /PRNewswire/ -- Willbros
Group, Inc. (NYSE: WG) today announced that its Canada segment has won a project to add API
tank storage capacity in Alberta.
The EPC project includes engineering, procurement and construction
of approximately 150,000 barrels of additional storage at an
existing facility. The scope of work includes civil site
preparation and tank supply and erection. Willbros Oil & Gas
has won a similar assignment with the same client in the Northern
Plains for approximately 900,000 barrels of additional storage.
Site work has begun and project completion is scheduled for the
third quarter of 2016.
Willbros announced that its Oil & Gas segment has also won a
cross-country pipeline project to construct approximately 60 miles
of 10-inch pipeline. The project, to expand capacity on an existing
system, begins in Panola County,
Texas and ties in to the existing system in Angelina County, Texas. The project is
underway now and completion is scheduled for the first quarter of
2016. The Oil & Gas segment has also won a project in
King County, Texas to construct a
steel pipeline to transport crude oil to the existing Benjamin
Station. The scope of this project is for construction of the
launcher at the Hunt initiation site and the carrier pipeline up to
the receiver at Benjamin Station, an 80,000 barrel breakout tank
and modifications to accommodate increased flow. The project is
scheduled to be completed in December
2015.
Michael J. Fournier, President
and Chief Operating Officer, commented, "These awards give us
greater visibility through the end of 2015 and into 2016 in both
our Canada and Oil & Gas
segments. The projects fit our skill sets, experience and available
capacity very well and we are pleased that our clients have
recognized the value we can bring to their important projects. Our
actions to re-invigorate our Oil & Gas businesses are producing
new project wins and opportunities and we expect to continue to
rebuild backlog through 2015 and into 2016."
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; inability to complete the planned
sale of the Professional Services segment or other discrete assets;
inability to timely collect contractually due receivables;
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
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SOURCE Willbros Group, Inc.