Primoris Services Corporation Announces Pipeline Construction Awards Valued at over $185 Million

March 10, 2016

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DALLAS–(BUSINESS WIRE)–Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new pipeline construction awards with a combined value in excess of $185 million. The contracts were secured by Primoris’ Rockford Corporation, part of the West Construction Services segment.

  • The first award is for a new natural gas pipeline located in central Florida for a midstream customer. The project consists of 79 miles of 36” diameter pipeline to transport natural gas for power generation needs. The scope of work includes 42 road bores, five directional drills, and six mainline test sections. Construction is scheduled to start in the second quarter of 2016 and is expected to be completed in the first quarter of 2017.
  • The second award is for a new natural gas pipeline to a power plant in southern Pennsylvania for an independent power producer. The project consists of 3.7 miles of 24” diameter natural gas pipeline and will give an existing coal-fired plant the option to burn natural gas. Construction is scheduled to start in the first quarter of 2016 and is expected to be completed in the second quarter of 2016.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies in the United States. Serving diverse end-markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into Canada. For additional information, please visit www.prim.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including with regard to the Company’s future performance. Words such as “estimated,” “believes,” “expects,” “projects,” “may,” and “future” or similar expressions are intended to identify forward-looking statements. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, including without limitation, those described in this press release and those detailed in the “Risk Factors” section and other portions of our Annual Report on Form 10-K for the period ended December 31, 2015, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Category: Oil & Gas