SOURCE: Willbros Group, Inc.

September 16, 2008 17:50 ET

Willbros Reports Minimal Impact From Hurricane Ike

HOUSTON, TX--(Marketwire - September 16, 2008) - Willbros Group, Inc. (NYSE: WG) today reported its management team has assessed the situation following the passage of Hurricane Ike and at this time reports minimal impact on its equipment, shops and facilities. The Houston administrative offices and both Upstream and Downstream construction offices and yards suffered minimal damage. The Administrative offices have had power restored and the Company is currently putting temporary power in place at the construction facilities. The Company's other facilities are not affected by Ike.

Randy Harl, President and Chief Executive Officer, commented, "Clearly, the entire region is recovering from the passage of a very disruptive storm. As you know from media reports, the Houston area is recovering its basic services as quickly as possible, but full recovery is expected to take up to several weeks. Our people have met the challenges well and we are open for business and responding to both employee and customer needs. Our priority is the safe and efficient return to normal operations. We wish the best to all whose lives and routines have been interrupted by this storm."

Willbros Group, Inc. is an independent contractor serving the oil, gas, power, and refining and petrochemical industries, providing engineering, construction, turnaround and maintenance 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 those discussed above and such things as the potential for additional investigations; the possible losses arising from the discontinuation of operations and the sale of the Nigeria assets; fines and penalties by government agencies; the identification of one or more other issues that require restatement of one or more prior period financial statements; the existence of material weaknesses in internal controls over financial reporting; availability of quality management; availability and 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, the refinery crack spread and planned refinery outages and upgrades, the effective tax rate of the different countries where the work is being conducted, development trends of the oil, gas, power, refining and petrochemical industries, 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
    Willbros USA, Inc.
    (713) 403-8016

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