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NEWS
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August 16, 2004
 Boots & Coots
Restructures Debt with Prudential< 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 |
BOOTS & COOTS AWARDED TWO SAFEGUARD CONTRACTS
TOTALING $23 MILLION HOUSTON, (November 9, 2004) - Boots & Coots International Well Control, Inc. (Amex: WEL) announced today that it significantly expanded the company's scope of services in Algeria with the signing of two SafeGuard contracts totaling $23.3 million. One contract is for a term of five years and totals $16.6 million. The second contract is a three-year contract worth $6.7 million. Services performed under both contracts, which include risk management and analyses as well as a comprehensive range of engineering services, begin immediately. Boots & Coots is a global prevention, emergency response and restoration company for the oil and gas industry. "These contracts are a direct result of our past performance in Algeria, where we have demonstrated our value helping ensure the safety and integrity of our customers' key production assets," said Jerry Winchester, Chief Executive Officer of Boots & Coots. "We see additional opportunities to grow our prevention services segment, and we will continue to focus our resources on developing SafeGuard contracts in international areas of high activity. "On another prevention front, our WELLSUREŽ insurance program continues to provide a predictable base of prevention revenues as well," continued Mr. Winchester. "Since the beginning of the year we have signed 33 new customers to our WELLSUREŽ program, 24 in Canada and nine in the US, for a total of 53." Under the terms of both SafeGuard contracts, Boots and Coots will provide training, risk analyses, contingency planning and well inspections, as well as the prevention and control of blowouts and the prevention of risks related to installations. |
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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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