SOURCE: Willbros Group, Inc.

Willbros Group, Inc.

June 28, 2011 16:00 ET

Willbros Awarded Tank Contract in Canada

HOUSTON, TX--(Marketwire - Jun 28, 2011) - Willbros Group, Inc. (NYSE: WG) announced today that its Canadian unit, Willbros Canada, has been awarded a cost-reimbursable contract associated with an oil sands project near Fort McMurray, Alberta, Canada. Willbros Canada will design, supply, fabricate, deliver and erect six (6) field erected tanks. The value of the award is $10 million (CDN) and will be executed over the next two years.

Randy Harl, President and Chief Executive Officer, remarked, "This is an important award for Willbros as it signifies progress on our strategy to expand our presence in Canada as well as leveraging our Downstream capabilities into this robust market. We believe that Canada represents significant growth opportunities for Willbros as investments in mining and SAGD production increase."

Willbros Group, Inc. is a global contractor specializing in energy infrastructure serving the oil, gas and power industries. Our offerings include engineering, procurement and construction (individually or as an integrated "EPC" service offering), refinery turnarounds, ongoing maintenance and other specialty 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 potential for additional investigations; disruptions to the global credit markets; the global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the possible losses arising from the discontinuation of operations and the sale of the Nigeria assets; the existence of material weaknesses in internal controls over financial reporting; availability of quality management; availabilityand terms of capital; changes in, or the failure to comply with, government regulations; 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; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries and 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 Information

  • CONTACT:
    Michael W. Collier
    Vice President Investor Relations
    Sales & Marketing
    Willbros
    713-403-8038

    Connie Dever
    Director Strategic Planning
    Willbros
    713-403-8035