PERTH, AUSTRALIA--(Marketwired - December 08, 2016) - CHC Group (OTC PINK: HELIQ) (the "Company" or "CHC") today announced that three new Sikorsky S-92 aircraft will begin serving Shell for the company's Prelude floating liquefied natural gas ("FLNG") project from its base in Broome, Australia. These new aircraft will join a fourth S-92 already in use as part of a two-year extension of the current Shell contract in place since mid-2012.
Shell Australia's Prelude FLNG project will be one of the first to produce natural gas at sea from offshore production platforms, and will then transfer it to a fleet of specialized ships for product transportation directly to customers. By using this process, Shell will use significantly less materials, land and seabed than developing the same gas reserves via a similar onshore facility while also reducing the impact on sensitive coastal habitats.
"Shell has been a long-time customer of ours as we provide critical transportation services in support of their efforts in the region, so we are excited to expand and extend this contract through at least May 2019," said Karl Fessenden, President and Chief Executive Officer of CHC Helicopter. "We are proud to play a part in such an important and transformative project for the energy industry and look forward to providing continued safe and reliable transportation to all involved."
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.