STAVANGER, NORWAY--(Marketwired - December 14, 2016) - CHC Group (OTC PINK: HELIQ) (the "Company" or "CHC") today announced it has signed a new contract with Wintershall Norge AS ("Wintershall"), to provide helicopter services in support of their drilling program at the Maria Field in the Norwegian Sea on the Halten Terrace in blocks 6407/1 and 6406/3.
"We are excited to work with Wintershall as their aviation partner in this project," said Arne Roland, CHC Regional Director for Nordic Countries, Eastern Europe, Caspian and Canada (NECC). "This project allows us continue to build on our decades of experience supporting oil and gas customers in the Norwegian Continental Shelf as we continue to evolve our services and technology to best meet their needs."
The operation will begin in March 2017, flying from CHC's base in Kristiansund using a Sikorsky S-92, which has a proven safety and availability record, reaching more than one million fleet hours of service earlier in 2016.
Wintershall's drilling program is expected to last for an initial period of approximately 550 days and the contract includes an option to extend CHC's services beyond this initial period.
"CHC is proud to continue a safe and reliable transportation offering to customers in and around the North Sea," said Karl Fessenden, President and CEO of CHC Helicopter. "We look forward to helping Wintershall meet their transportation needs throughout this project and are eager to start flying on their behalf upon project commencement next year."
CHC Helicopter is a leader in enabling customers to go further, do more and come home safely, including oil and gas companies, government search-and-rescue agencies and organizations requiring helicopter maintenance, repair and overhaul services through the Heli-One segment.
Cautionary Note on Forward-Looking Statements
This press release and other statements that we may make contain forward-looking statements. Forward-looking statements are statements that are not historical facts and include statements about our expectations for the timing and execution of our restructuring plan, our future financial condition and future business plans and expectations, the effect of, and our expectations with respect to, the operation of our business, adequacy of financial resources and commitments and operating expectations during the pendency of our court proceedings. Such forward-looking statements are based upon the current beliefs and expectations of our management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended April 30, 2016 and its quarterly report for the period ended July 31, 2016. The Company's filings with the Securities and Exchange Commission are available at www.sec.gov. You are urged to consider these risks and other factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. No assurances can be given that our efforts to effectively reorganize under Chapter 11 of the Bankruptcy Code will ultimately be successful or that we will succeed in strengthening our balance sheet or increase our financial flexibility. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Nothing in this press release shall constitute a solicitation of any holders of any of our indebtedness or our securities or an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities of the Company. Any securities that may be offered pursuant to our Chapter 11 proceedings will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.