North American Energy Partners Inc.

North American Energy Partners Inc.

December 06, 2006 21:43 ET

North American Energy Partners' Underwriters Exercise Over-Allotment Option

ACHESON, ALBERTA--(CCNMatthews - Dec. 6, 2006) - North American Energy Partners Inc. (TSX:NOA)(NYSE:NOA) announced today that the underwriters of its recently completed initial public offering have exercised their over-allotment option for an additional 1,375,000 common shares. The Company sold 687,500 additional shares and the selling shareholders sold 687,500 additional shares at US$16.00 or C$18.38 per share. This is the same price per share as the 12,500,000 shares sold in the initial public offering.

The Company's total gross proceeds were US$151.0 million or approximately C$173.5 million including over-allotment shares.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any province, territory or state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, territory or state.

This news release contains forward-looking statements. Actual results could differ materially from those contemplated by such forward-looking statements as a result of any number of factors and uncertainties, many of which may be beyond the Company's control. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein are enumerated in the Company's registration statement filed with the United States Securities and Exchange Commission. Undue reliance should not be placed upon forward-looking statements and we undertake no obligation to update those statements.

North American Energy Partners Inc. (TSX:NOA)(NYSE:NOA) is one of the largest providers of mining and site preparation, piling and pipeline services in western Canada. For over 50 years, we have provided services to large oil, natural gas and resource companies, with a principal focus in the Canadian oil sands. We maintain one of the largest independently owned equipment fleets in the region.

Contact Information

  • North American Energy Partners Inc.
    Vincent Gallant
    Vice President, Corporate & Corporate
    (780) 960-2255
    (780) 960-7167 (FAX)