(TSX - FES)
CALGARY, Aug. 25 /CNW/ - Flint Energy Services Ltd. (Flint, the Company), announced that Flint Transfield Services (FT Services), its 50% owned maintenance company, was the successful bidder for maintenance contracts with Nexen Inc worth an estimated $95 million over three years.
FT Services will provide electrical and instrumentation services and a portion of mechanical maintenance services at Nexen's Long Lake facility, southeast of Fort McMurray, Alberta. Work will commence later this year and continue through 2013.
Flint's President and CEO, J. W. (Bill) Lingard, said today: "We are very pleased to have FT Services selected by Nexen for this new contract work. Our expertise in constructing these facilities and our ability to provide asset management services through FT Services for this growing industry is part of Flint's ongoing strategy of both building and maintaining these sophisticated facilities for our customers".
Long Lake is the first oil sands project in the region to combine advanced technologies that enable the recovery of deep bitumen, with the ability to generate fuel gas and hydrogen on-site to power bitumen recovery and upgrading to yield a premium synthetic crude product.
Since securing its first client in the Canadian oil sands industry in 2007, FT Services has continued to expand its client base to include four major players in the industry.
Flint Energy Services Ltd. is a market leader providing an expanding range of integrated products and services for the oil and gas industry including: production services; infrastructure construction; oilfield transportation; and maintenance services. Flint, with more than 10,000 employees, provides this comprehensive range of products and services through over 60 strategic locations in the oil and gas producing areas of Western North America, from Inuvik in the Northwest Territories to Mission, Texas on the Mexican border. Flint is a leading provider of infrastructure construction management, module fabrication, maintenance services for upgrading and production facilities in Alberta's oil sands sector.
FORWARD LOOKING STATEMENTS
All statements other than statements of historical fact contained in this news release may be "forward-looking statements". Such forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements, and as such, they should not be unduly relied upon. The forward-looking statements are made as of the date of this news release and Flint assumes no obligation to update or revise them, except as expressly required by applicable securities law. Further information regarding risks and uncertainties relating to Flint and its securities can be found in the disclosure documents filed by Flint with the securities regulatory authorities, available at www.sedar.com.
SOURCE FLINT ENERGY SERVICES LTD.
For further information: For further information: Guy Cocquyt, Director of Investor Relations, Telephone: (403) 218-7195, Email: firstname.lastname@example.org