HSE AND BOOTS & COOTS TO CONTINUE HEALTH AND SAFETY SERVICES PARTNERSHIP, EXPAND OPERATIONS IN UNITED STATES
CALGARY, Feb. 3 /CNW/ - HSE Integrated Ltd. ("HSE") of Calgary, Alberta and Boots & Coots Services ("Boots & Coots", a division of Halliburton (NYSE: HAL)) of Houston, Texas today announce they have agreed to continue and expand the operations of Boots & Coots HSE Services, LLC ("BCHSE"), a joint venture formed to provide on-site health and safety services to upstream oil and gas operators in the United States.
BCHSE was created in May of 2008. The joint venture was headquartered in Houston, Texas with its Board of Directors comprised of representatives of both Boots & Coots and HSE. HSE has been the operating partner responsible for equipment, manpower and operations but has received substantial support from Boots & Coots through sales and marketing, operational support and facilities. Jarvis Jackson, an executive from HSE who relocated to Houston to manage the partnership, has been the President of BCHSE since it was created. Since operations began in early 2009, BCHSE has conducted operations from Midland/Odessa, Decatur and Longview in Texas, Oklahoma City, and Shreveport, Louisiana.
In the second quarter of 2010 it was announced that Halliburton intended to acquire the shares of Boots & Coots, a transaction that was completed September 17, 2010. The result was a significant expansion of the Boots & Coots service offering and delivery footprint. At the same time, Boots & Coots undertook a strategic internal review of its product and service lines which included its participation in the BCHSE joint venture.
"Because of the growing commercial success of BCHSE, the continuing importance of health and safety services in the oil and gas industry, and the successful integration of BCHSE's services into related Boots & Coots service offerings, we have elected to continue with our partnership," stated David Yager, Chairman and CEO of HSE. "The increased resources and market reach available to Boots & Coots within the Halliburton organization will provide a positive influence upon BCHSE's future and help expand BCHSE beyond its current size."
On January 18, 2011, the board of directors of BCHSE approved the 2011 strategic plan and capital budget of $0.83 million for safety equipment for existing markets in Texas. In addition, it was agreed that BCHSE would research then identify the most promising markets into which BCHSE would expand next. These include the Marcellus Shale development in the U.S. northeast, the Bakken oil play in North Dakota and the Eagle Ford shale/gas liquids play in south Texas.
HSE and Boots and Coots have enjoyed a successful working relationship in Canada since 2006. Boots & Coots offers a specialized risk management and well control insurance program to E&P companies in Canada. Through this program, Boots & Coots works with well control and petroleum industry insurance underwriters to review proposed drilling programs and certain producing operations and analyze their risk potential for a blowout or related emergency situations. Services also include providing an engineer or well control specialist to act as an advisor in the event of an operational risk or pressure control situation. HSE is the first-line responder for well control and emergency response equipment and services for Boots & Coots in Canada.
Forward Looking Statements
This news release may contain forward-looking statements concerning, among other things, the Company's prospects, expected revenues, expenses, profits, financial position, strategic direction, and growth initiatives, all of which are subject to risks, uncertainties and assumptions. These forward-looking statements are identified by their use of terms and phrases such as expect, anticipate, estimate, believe, may, will, intend, plan, continue, project, objective and other similar terms and phrases. These statements are based on certain assumptions and analyses made by the Company based on its experience and assessment of current conditions, known trends, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to numerous external variables, both known and unknown, such as changes in commodity prices for natural gas and oil, changes in drilling activity, weather conditions, industry-specific and general economic conditions and exchange rate fluctuations. If any of these risks and uncertainties materializes or if assumptions are incorrect, actual results may differ materially from those expressed or implied in the forward-looking statements. The forward looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon.
ABOUT HSE INTEGRATED LTD.
HSE (TSX: HSL) is Canada's only national supplier of integrated industrial Health, Safety and Environmental services. From its head office in Calgary, Alberta HSE serves its clients from field service locations in Alberta, British Columbia, Saskatchewan, Ontario, Nova Scotia, New Brunswick, Newfoundland-Labrador, and Michigan.
ABOUT BOOTS & COOTS
Boots & Coots provides a suite of integrated well intervention and pressure control services around the world that are designed to enhance oil and gas production and mitigate risk. These services include hydraulic workover/snubbing and coiled tubing services, HP/HT rental tools and its legacy well control and risk management services. Boots & Coots also manages Halliburton's pipeline and process services which provide a full range of pre-commissioning, commissioning, cleaning and decommissioning solutions to the global pipeline and hydrocarbon processing industry.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 55,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at www.halliburton.com.
For further information:
HSE Integrated Ltd.
David Yager, Chairman & CEO
Telephone: (403) 266-1833