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NEWS
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March 12, 2004
 Boots & Coots 'demobilizes' Iraq employees< Previous Page |
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Investor
Contact:
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Jennifer
Tweeton VOLLMER 713-970-2100 jennifert@vollmerpr.com |
Rob Schatz/Richard
Cooper Strategic Growth International 212-838-1444 info@sgi-ir.com |
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UPDATE
1 "They're home. It's not an official delay, but they have demobilized us until being further informed," said Jennifer Tweeton, a spokeswoman for Boots & Coots. The Houston-based company -- which had been working to restore production in Iraq's southern oilfields -- said the delay was in the transition to its new contract with Halliburton Co.'s (HAL) KBR unit, which is in charge of the Pentagon's Restore Iraqi Oil program. Tweeton said she had no details on why KBR had delayed the contract. Halliburton had no immediate comment. In a U.S. Securities and Exchange Commission filing earlier this week, Halliburton warned that a U.S. Defense Department audit of KBR's Iraq work could lead to a delay in invoicing and possible refunds. Boots & Coots workers remain positioned to respond to Iraq should any emergencies arise, Tweeton said. (Additional reporting by Deepa Babington in New York) UPDATE 2 HOUSTON, March 12 (Reuters) - Oil well firefighters Boots & Coots International Well Control Inc. (WEL), on Friday said it had recalled its workers from Iraq after an unexpected delay on a new subcontract to rebuild Iraq's oil infrastructure. The Houston-based company said the delay was temporary as it awaited subcontracts from Halliburton Co.'s (HAL) KBR unit, but had no information on when the contracts would resume. "They're home. It's not an official delay, but they have demobilized us until being further informed," said Jennifer Tweeton, a spokeswoman for Boots & Coots. KBR, which had been working on oil infrastructure across Iraq, will take charge of the Pentagon's Restore Iraqi Oil program focusing on operations in the south. Halliburton had no immediate comment. In a U.S. Securities and Exchange Commission filing earlier this week, Halliburton warned that a U.S. Defense Department audit of KBR's Iraq work could lead to a delay in invoicing and possible refunds. Boots & Coots workers remain positioned to respond to Iraq should any emergencies arise, Tweeton said. (Additional reporting by Deepa Babington in New York and Matt Daily in Houston) |
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Boots & Coots International Well Control, Inc., Houston, Texas, provides a suite of integrated oilfield services centered on the prevention, emergency response and restoration of blowouts and well fires around the world. Boots & Coots' proprietary risk management program, WELLSURE®, combines traditional well control insurance with post-event response as well as preventative services, giving oil and gas operators and insurance underwriters a medium for effective management of well control insurance policies. The Company's SafeGuard program, developed for regional producers and operators sponsored by Boots & Coots, provides dedicated emergency response services, risk assessment and contingency planning, and continuous training and education in all aspects of critical well management. For more information, visit the Company's web site at http://www.bootsandcoots.com . Certain statements included in this
news release are intended as "forward- looking statements" under
the Private Securities Litigation Reform Act of 1995. Boots & Coots
cautions that actual future results may vary materially from
those expressed or implied in any forward-looking statements.
More information about the risks and uncertainties relating
to these forward- looking statements are found in Boots & Coots'
SEC filings, which are available free of charge on the SEC's
web site at http://www.sec.gov. |
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