CALGARY, Alberta, Dec. 21, 2021 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce several new project and contract awards that were booked with major upstream, midstream and downstream North American energy companies during the period from November 1, 2021 to the date of this press release. These new project and contract awards are estimated to generate approximately $218 million in backlog.
The work will be executed by ClearStream’s Flint, ClearWater, Environmental, Universal Weld Overlays and Wear Technologies divisions and will be comprised of Heavy Equipment Operators, Maintenance, Turnarounds, Fabrication, Pipeline and Facility Construction, Electrical and Instrumentation, Corrosion and Abrasion Wear Technologies, and Abandonment and Reclamation services. Approximately one-third of the work will be executed in 2022 with the balance scheduled for 2023-2026.
“These new project and contract awards are positive indicators that our integrated service model is bringing continued value to our clients’ assets. We are proud to be a trusted provider of asset integrity services and appreciate the confidence that our clients have demonstrated with these awards, which reflect their willingness to secure capacity for the next few years with reliable service providers,” said Yves Paletta, Chief Executive Officer.
About ClearStream Energy Services Inc.
With a legacy of excellence and experience stretching back more than 50 years, ClearStream provides solutions to the Energy and Industrial markets including: Oil & Gas, Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and a dedicated workforce, we provide maintenance, construction, wear technology and environmental services that keep our clients moving forward. For more information about ClearStream, please visit www.clearstreamenergy.ca
https://www.globenewswire.com/news-release/2021/12/21/2356415/0/en/ClearStream-announces-New-Project-and-Contract-Awards.html