UtilX Reaches 4 Million Foot Milestone on ComEd Reliability Program
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 12/27/11 -- Willbros Group, Inc. (NYSE: WG) announced today that UtilX, a unit of its Utility T&D segment, in conjunction with its partner, INTREN, completed four million feet of cable remediation on the Commonwealth Edison (NYSE: EXC) system. UtilX remediates electric cables with injection of silicone-based fluid to enhance insulation and extend the cable life. In 2007, ComEd initiated an ATR Program (Assess, Treat or Replace) to improve reliability to customers by increasing performance of the poorer performing sections of its underground system either by URD cable replacement or through cable injection. ComEd expects this program to go on until up to 8,000 miles of aged cable have been addressed. Their objective is to first try cable injection, and when that isn't feasible, to replace the cable instead.
Randy Harl, President and Chief Executive Officer, remarked, "With its proprietary cable injection services, UtilX provides improved reliability in the most cost effective manner. We are pleased to have achieved this milestone in support of ComEd's ATR Program and we look forward to providing continued support for our customers in their cable restoration efforts."
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 .
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; 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; 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.
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Willbros
713-403-8038
Director Investor Relations
Willbros
713-403-8035
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Datum: 27.12.2011 - 06:00 Uhr
Sprache: Deutsch
News-ID 1068790
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