Willbros Names President of Oil & Gas Segment
- Harry New rejoins Willbros
HOUSTON, Jan. 12, 2015 /PRNewswire/ -- Willbros Group, Inc. (NYSE: WG) today announced that Harry New has rejoined the company as President of its Oil & Gas segment, where he will have operating responsibility for the Company's portfolio of oil and gas construction services in the United States. Mr. New will report operationally to Michael Fournier, President and Chief Operating Officer. Mr. New was previously with Willbros in the 2005-2011 timeframe when he last headed the mainline pipeline construction activities of the company as President, U.S. Construction.
John T. McNabb, II, Chairman and Chief Executive Officer, commented, "Harry New brings 28 years of experience to our Oil & Gas segment. He is an executive with the respect of the industry and an enviable track record in the pipeline construction industry. His leadership, operations expertise and relationships will bolster our new team and return focus to meeting client expectations and delivering safe, quality projects on time and on budget. We welcome his return and know that our team will be strengthened with his addition."
Mr. Fournier added, "Harry New has the experience and credentials to positively impact our Oil & Gas operations. His major project experience and knowledge of engineering, construction and project management will provide the Oil & Gas segment with the competency and oversight necessary to return our oil and gas operations to reliable and profitable performance."
Willbros is a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. Our offerings include engineering, procurement and construction (either individually or as an integrated EPC service offering), turnarounds, maintenance, facilities development and operations services. For more information on Willbros, please visit our web site at www.willbros.com.
This announcement contains forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from these statements, including unanticipated accounting or other issues regarding any material weakness in internal control over financial reporting as a result of the restatement of financial statements; inability of the Company or its independent auditor to confirm relevant information or data; unanticipated issues that prevent or delay the Company's independent auditor from completing its review of financial statements or that require additional efforts, procedures or review; the untimely filing of financial statements; the impact of any investigations and lawsuits; the identification of one or more issues, including those relating to the restatement discussed above, that require restatement of one or more other prior period financial statements; ability to remain in compliance with, or obtain waivers under, the Company's existing loan agreements; inability to obtain adequate financing on reasonable terms; ability to dispose of businesses and assets in a timely manner at reasonable valuations; the existence of other material weaknesses in internal control over financial reporting; contract and billing disputes; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; availability of quality management; availability and terms of capital; timely award of prospective projects the Company is pursuing; changes in, or the failure to comply with, government regulations; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades and development trends of the oil, gas, power, refining and petrochemical industries; as well as other risk factors described from time to time in the Company's documents and reports filed with the SEC. The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
CONTACT: |
|
Michael W. Collier |
Leah Martinez |
SVP Investor Relations |
Corporate Marketing Manager |
Marketing & Communications |
Willbros |
Willbros |
713-403-8084 |
713-403-8038 |
SOURCE Willbros Group, Inc.
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