SOURCE: Willbros Group, Inc.

October 31, 2007 18:38 ET

Willbros Intends to Pursue Public Offering of Its Common Stock

HOUSTON, TX--(Marketwire - October 31, 2007) - Willbros Group, Inc. (NYSE: WG) today announced that as soon as practicable and subject to market conditions, Willbros intends to pursue a common stock offering of approximately $250 million before fees and expenses. The Company intends to use the net proceeds from the offering to fund the cash portion of the acquisition of Integrated Service Company LLC (approximately $200 million), announced today in a separate release, which is scheduled to close in mid-November 2007, to invest in capital equipment to support the Company's growing project backlog, and to utilize the balance for general corporate purposes including business expansion.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering of Willbros common stock will be made only by means of a prospectus.

Willbros Group, Inc. is an international contractor serving the energy industries, providing engineering, construction, engineering, procurement and construction ("EPC"), and operations and maintenance services to industry and government entities worldwide.

Contact Information

  • CONTACTS:
    Michael W. Collier
    Vice President
    Investor Relations
    Willbros USA, Inc.
    (713) 403-8016

    Connie Dever
    Director
    Strategic Planning
    Willbros USA, Inc.
    (713) 403-8035