CALGARY, Alberta, Dec. 19, 2019 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce several new project awards and contract renewals with major upstream, midstream and downstream energy companies across North America. These awards and renewals are estimated to generate approximately $175 million in new backlog.
The work will be executed by ClearStream’s Flint, Environmental, UWO and Wear Technologies divisions and will be comprised of Maintenance, Turnarounds, Fabrication, Pipeline & Facility Construction, Electrical & Instrumentation, Corrosion and Abrasion Wear Technologies, and Environmental Professional services. The work will commence immediately with higher activity expected during the spring and fall turnaround seasons over the next two to three years.
“Further to the press release dated October 9, 2019 where we announced $80 million of contract renewals and new project awards, we are pleased with these recent contract awards that continue to demonstrate that we are a trusted service provider for our clients. Since the acquisitions completed in June 2019, and the launch of Flint and UWO as divisions of ClearStream, we are proud to offer and serve our clients with a suite of services that encompass the full project lifecycle”, said Yves Paletta, Chief Executive Officer.