HOUSTON--(BUSINESS WIRE)--Apr. 30, 2014--
Exterran Holdings, Inc. (NYSE:EXH) today announced that on March 25,
2014 it signed a 12-year compression services contract with the
consortium BCAM-40, where Petroleo Brasileiro S.A.(Petrobras) is the
field operator, and will commence operations following Exterran’s
construction and installation of a compressor station in Bahia, Brazil.
The project will utilize approximately 28,000 horsepower of compression
equipment, as well as associated natural gas production equipment.
The land-based compressor station will compress gas from the Manati
Field offshore Brazil for transportation via pipeline to a
customer-owned natural gas treatment facility in São Francisco do Conde,
Brazil. The compressor station is expected to have a total volume
capacity of approximately 230 million standard cubic feet of natural gas
per day starting in mid-2015.
"We are excited by this opportunity to partner with Petrobras and to
build on our leadership in natural gas compression worldwide," said
Exterran President and CEO Brad Childers. "We look forward to building
on our legacy of experience, technical expertise and commitment to
service in Brazil."
In addition, Exterran has been awarded a number of other contract
compression projects in Latin America during the first quarter 2014
including two in Mexico involving a total of 19,000 horsepower of
compression and another in Colombia utilizing 6,000 horsepower, plus
expansions to current projects in Argentina involving 17,000 additional
horsepower. The majority of these projects have minimum contract terms
of approximately four years.
Exterran is a global market leader in full service natural gas
compression, operating approximately 4.3 million horsepower of
compression assets around the world, including about 800,000 horsepower
in Latin America.
About Exterran Holdings
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 approximately 10,000 employees and operates in 30 countries. For
more information visit www.exterran.com.
Forward-Looking Statements
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 Section 21E of the
Securities Exchange Act of 1934, as amended, including, but not limited
to: statements regarding the new compression services contract and its
terms; expectations related to the project, including the compressor
station’s capabilities and timing of start-up; and expectations
regarding Exterran's other opportunities and projects in Latin America.
These statements are based upon current expectations and are subject to
a number of risks, uncertainties and assumptions, which could cause
actual results to differ materially from those described in the
forward-looking statements. Among these factors are: local, regional,
national and international economic conditions and the impact they may
have on Exterran and its customers; conditions in the oil and gas
industry, including a sustained decrease in the level of supply or
demand for oil or natural gas or a sustained decrease in the price of
oil or natural gas; Exterran’s ability to timely and cost-effectively
execute larger projects; changes in economic conditions in key operating
markets; changes in safety, health, environmental and other regulations;
and the failure of any third party to perform its contractual
obligations. These forward-looking statements are also affected by the
risk factors, forward-looking statements and challenges and
uncertainties described in Exterran's Annual Report on Form 10-K for the
year ended December 31, 2013 and subsequent reports filed with the
Securities and Exchange Commission. Exterran assumes no obligation and
expressly disclaims any duty to update the information contained herein
except as required by law.
Source: Exterran Holdings, Inc.
Exterran Holdings, Inc.
Media
Susan Moore, 281-836-7398
or
Investors
David
Oatman, 281-836-7035