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URS Corporation Secures Contract; Completes Acquisition Of Flint Energy Services Ltd


Wednesday, 16 May 2012 08:30am EDT 

URS Corporation announced that the Company’s Oil & Gas division has been selected as the pipeline construction contractor for a Steam Assisted Gravity Drainage (SAGD) oil sands project in the Wood Buffalo Region near Fort McMurray, Alberta. The contract, which has a maximum value of approximately $130 million to URS, is expected to commence in the second quarter of 2012 and to continue until mid-2013. Under the terms of the contract, URS will be responsible for the construction of both below ground and above ground pipelines, as well as access platforms and valve stations. The project will consist of over 70 kilometers of gas, oil, water and steam lines, ranging from eight to twenty four inches in diameter. As previously announced, on May 14, 2012, URS completed acquisition of Flint Energy Services Ltd, which has become the new Oil & Gas division of URS. With the completion of the acquisition, Mr. Lingard, Flint's former President and CEO, became President of URS’ Oil & Gas division. Terms of the transaction were not disclosed. 

Company Quote

47.55
0.1 +0.21%
17 Apr 2014