ENG said that six contract awards announced on the company’s November 8, 2022 third quarter results conference call will produce minimum combined revenue of over $12 million, most of which will be recognized in this year’s fourth quarter. The awards, which were received thus far in the fourth quarter, include: Construction installation services related to two solar farm projects in Texas; Signing of a master services agreement with a leading integrated oil services company resulting in construction and fabrication services for produced water booster station upgrade projects; Construction of remote instrument enclosures for a leading IOC in Houston; Construction and fabrication services for multiple compressor station upgrade projects in West Texas; and Engineering, procurement and construction services for a methanol prover and metering upgrade, compression station upgrades, fabrication of separators and related piping for multiple midstream oil and gas operators out of West Texas and New Mexico. "We are very excited to receive these awards," said ENG president Roger Westerlind. "Not only will they make a positive impact on our fourth quarter financial performance, but also could stimulate major oil and gas and green energy contracts with these same IOCs going forward." Mr. Westerlind added that, regarding its gas-to-liquids technology, the company, via its OiLSERV partner in the Middle East, is currently bidding on some 10 opportunities with a total value in excess of $100 million and expects to close on at least one of these projects within the next six months. Lastly, said Mr. Westerlind, ENG’s wholly-owned government services division has seen a steady ramp-up of revenue in the second half of 2022 and is expected to continue this growth into 2023.
Published first on TheFly
