Boots & Coots Expands SafeGuard Contract $12.3 Million; Total Value of Contracts in Algeria Now $35.2 Million
HOUSTON, July 24 /PRNewswire-FirstCall/ -- Boots & Coots International
Well Control, Inc. (Amex: WEL), the premier pressure control company for the
oil and gas industry, announced today that it significantly expanded one of
its two five-year SafeGuard contracts in Algeria with the signing of a new
amendment worth $12.3 million in additional revenues. This raises the scope
of services under contract in Algeria to $35.2 million. Services performed
under these contracts include risk management and analyses as well as a
comprehensive range of engineering services.
'We are in the second year of performing services in Algeria, and I
believe this amendment for additional services is a testament to our
recognized commitment to our customers and our results-driven performance,'
said Jerry Winchester, chief executive officer of Boots & Coots. 'We continue
to see opportunities around the globe for our risk management and prevention
services, and with the addition of Hydraulic Well Control's services, we can
leverage our footprint to serve more customers.'
Under the terms of the SafeGuard contracts, Boots & Coots will provide
training, risk analyses, contingency planning and well inspections, as well as
the prevention and control of blowouts and the prevention of risks related to
installations. In addition to Algeria, Boots & Coots also currently performs
services under SafeGuard contracts in Venezuela, Kazakhstan and India.
About Boots & Coots
Boots & Coots International Well Control, Inc., Houston, Texas, provides a
suite of integrated oilfield services centered on the prevention, emergency
response and restoration of blowouts and well fires as well as hydraulic
workover/snubbing and hot tapping services around the world. Boots & Coots'
proprietary risk management program, WELLSURE(R), combines traditional well
control insurance with post-event response as well as preventative services,
giving oil and gas operators and insurance underwriters a medium for effective
management of well control insurance policies. The company's SafeGuard
program, developed for regional producers and operators sponsored by Boots &
Coots, provides dedicated emergency response services, risk assessment and
contingency planning, and continuous training and education in all aspects of
critical well management. For more information, visit the company's web site
at http://www.boots-coots.com .
Certain statements included in this news release are intended as 'forward-
looking statements' under the Private Securities Litigation Reform Act of
1995. Boots & Coots cautions that actual future results may vary materially
from those expressed or implied in any forward-looking statements. More
information about the risks and uncertainties relating to these forward-
looking statements are found in Boots & Coots' SEC filings, which are
available free of charge on the SEC's web site at http://www.sec.gov .
Investor Contact: Jennifer Tweeton
VOLLMER
713-970-2100
jennifert@vollmerpr.com
Stan Altschuler / Miri Segal
Strategic Growth International
212-838-1444
info@sgi-ir.com
SOURCE Boots & Coots International Well Control, Inc.
