Flint Energy Services Ltd. Announces Major Oil Sands Construction Contract Award


CALGARY, Sept. 28, 2011 /CNW/ - Flint Energy Services Ltd. (Flint, the Company) announced that it has been selected as the construction contractor for a major SAGD oil sands project in the Wood Buffalo Region near Fort McMurray, Alberta. The contract involves field construction and is valued at approximately $430 million.

Flint will be responsible for the construction of two major silos of work within the central plant facility.  The scope of the project consists of Flint's traditional mechanical and electrical direct field activities, as well as construction management and support.

Flint's work will commence in the first quarter of 2012 and will continue until mid-2014.  Flint anticipates this project will employ over 1,500 people at peak.

W. J. (Bill) Lingard, President and Chief Executive Officer said, "We are very pleased to have been selected as the construction partner to work on this significant oil sands development.  This is a large construction project and it demonstrates the increasing activity levels in oil sands capital investments."

Mr. Lingard went on to say, "With this latest contract award, the backlog of work for our Facility Infrastructure segment now sits at $740 million and we have good line of sight on our revenues for 2012 and 2013. We also have bids in play with other customers and we expect to win additional contract work later this year and in early 2012."

Earlier this year, the company reported $300 million in additional backlog from two other oil sands projects.  The Company currently has over 1,400 workers engaged in work on these projects.

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.  With more than 9,000 employees, Flint provides this unique breadth of products and services through over 65 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 preferred provider of infrastructure construction management, module fabrication, maintenance services for upgrading, and production facilities in Alberta's oil sands sector.

Certain statements in this news release are "forward-looking statements", which reflect current expectations of the management of Flint regarding future events or Flint's future performance.  All statements other than statements of historical fact contained in this news release may be forward-looking statements.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements.  Flint believes that the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.  The forward-looking statements are expressly qualified in their entirety by this cautionary statement.  The forward-looking statements are made as of the date of this news release and Flint assumes no obligation to update or revise them to reflect new events or circumstances, 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.

For information on employment with Flint, please go to our website at www.flintenergy.com and click on the Careers link for information on job postings and how to apply.

SOURCE Flint Energy Services Ltd.

For further information:

on this release:

Guy Cocquyt, Director of Investor Relations
Telephone: (403) 218-7195, Email: gcocquyt@flint-energy.com

Profil de l'entreprise

Flint Energy Services Ltd.

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