Exterran Selected by Williams Partners for Design, Fabrication and Installation Services in West Virginia
Published on Monday, 02 July 2012 08:15 Written by TradersHuddle StaffHOUSTON-( Business Wire )-
Exterran Holdings (NYSE:EXH) announced today that Williams Partners (NYSE:WPZ) has awarded the company a contract for the design, fabrication and installation of natural gas facilities in West Virginia. The facilities are part of Williams Partners’ Ohio Valley Midstream business, which has a significant footprint in the natural gas liquid-rich portion of the Marcellus Shale.
The project includes engineering and fabrication of two cryogenic gas processing plants with refrigeration, each with a capacity of 200 million standard cubic feet of natural gas per day (mcfpd) produced from the Marcellus Shale. Additionally, Exterran will provide site development, construction, installation and start-up for the two plants it develops as well as for a third 200-mcfpd cryogenic plant.
“We are excited by this opportunity to partner with Williams and to build on our capability in the Marcellus shale play,” said Exterran President and CEO Brad Childers. “This demonstrates our ability to provide an integrated solution from engineering to start up while quickly supplying the equipment required. We look forward to start-up activities commencing late in 2013 and into 2014.”
Exterran’s growing presence in the Marcellus and Utica plays includes several previous contract awards this year from clients, and this project brings the total capacity of the company’s projects in the region to more than 2 billion cubic feet per day of natural gas processing. Earlier this year, Exterran announced that it had broken ground on a new 65,000 square-foot manufacturing facility in the Youngstown, Ohio, area to accommodate its clients’ growing demand for Exterran’s products and services. In addition, Exterran Partners, L.P. (NASDAQ:EXLP), a master limited partnership, owns and operates processing plants in Ohio and West Virginia for a client under long-term services agreements.
Exterran has approximately four decades of experience in the design, engineering, fabrication, installation and maintenance of gas processing facilities, and it has completed more than 300 of these facilities worldwide.
All statements in this release (and oral statements made regarding the subjects of this release), other than historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to: expectations related to the project, including the facilities’ capabilities and timing of start-up; and statements regarding Exterran’s other projects in the Marcellus and Utica plays. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions, which are more fully described in Exterran's Annual Report on Form 10-K for the year ended December 31, 2011 and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. These risks, uncertainties and assumptions could cause actual results to differ materially from those described in the forward-looking statements. Exterran assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
Exterran Holdings, Inc. is a global market leader in full service natural gas compression and a premier provider of operations, maintenance, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings serves customers across the energy spectrum - from producers to transporters to processors to storage owners. Headquartered in Houston, Texas, Exterran has more than 10,000 employees and operates in approximately 30 countries.
Exterran Partners, L.P. provides natural gas contract operations services to customers throughout the United States. Exterran Holdings, Inc. owns an equity interest in Exterran Partners, including all of the general partner interest.
For more information, visit http://www.exterran.com.
ExterranMedia:Susan Moore, 281-836-7398Investors:David Oatman, 281-836-7035
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