HOUSTON, TX, Jul 06, 2010 (MARKETWIRE via COMTEX) -- Willbros Group, Inc. (NYSE: WG) announced today that its Upstream
Oil & Gas Segment has been awarded a detailed design and engineering
services contract by a subsidiary of El Paso Corporation. The scope
of work includes detailed design and engineering for the installation
of three Mars-100 turbine-compressor units at Stations 303, 310 and
315 on the Tennessee Gas Pipeline (TGP) 300 Line in Northern
Pennsylvania.
The contract is part of an Engineering Services Strategic Agreement
between Tennessee Gas Pipeline Company and Willbros.
Randy Harl, President and Chief Executive Officer, commented,
"Willbros has had a long-standing affiliation with El Paso and I am
pleased that Willbros has the opportunity to provide services to
Tennessee Gas Pipeline under our Strategic Agreement. I look forward
to our teams working together and I am certain our efforts will
enable us to collectively identify opportunities to support the next
phase of pipeline and related infrastructure growth in the United
States."
Willbros Group, Inc. is an independent contractor serving the oil,
gas, power, refining and petrochemical industries, providing
engineering, construction, turnaround, maintenance, life cycle
extension services and facilities development and operations 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 risk that the
Company may be unable to successfully integrate the acquisition of
InfrastruX or realize the growth opportunities or cost synergies that
are anticipated from the acquisition; the potential for
investigations; additional disruptions to the global credit markets;
the current global recession; fines and penalties by government
agencies; the identification of one or more other issues that require
restatement of one or more prior period financial statements; the
existence of material weaknesses in internal controls over financial
reporting; changes in incentives for renewable power generation;
availability of quality management; availability and terms of
capital; changes in, or the failure to comply with, government
regulations; ability to introduce new services to the markets served;
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, impediments to the construction of new
transmission facilities; the amount and location of planned
pipelines, the refinery crack spread and planned refinery outages and
upgrades, the effective tax rate of the different countries where the
work is being conducted, development trends of the oil, gas, power,
refining and petrochemical industries; regulatory impediments to the
disposal of water used in well stimulation processes; 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.
CONTACT:
Michael W. Collier
Vice President Investor Relations
Sales & Marketing
Willbros
713-403-8038
Connie Dever
Director Strategic Planning
Willbros
713-403-8035
SOURCE: Willbros Group, Inc.
|