Flint Reports Extension of Suncor Maintenance Agreement to 2016
(TSX - FES)
CALGARY, Nov. 15 /CNW/ - Flint Energy Services Ltd. (Flint, the Company) reported its subsidiary company, Flint Transfield Services Limited (FT Services) has negotiated an extension to its Suncor Energy maintenance agreement which will run until 2016.
The maintenance agreement, which has been in place since 2007, is a five-year rolling, performance-based relationship that delivers base maintenance services to Suncor Energy's upgrading operations in Fort McMurray, Alberta, the Firebag SAGD operations north of Fort McMurray, Alberta, and the Sarnia refinery in Ontario.
The maintenance agreement covers asset management services and other service agreements (turnarounds, sustaining project construction and general contractor) which have a potential value in excess of $2.2 billion (~$450M per year) over the five-year period.
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 provides this unique breadth 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 preferred provider of infrastructure construction management, module fabrication, maintenance services for upgrading, and production facilities in Alberta's oil sands sector. www.flintenergy.com
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.
%SEDAR: 00017156E
For further information:
Guy Cocquyt, Director of Investor Relations
Telephone: (403) 218-7195, Email: [email protected]
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