News Release<< Back
Bristow Group Announces Contract Extension in Nigeria
HOUSTON, March 24 /PRNewswire-FirstCall/ -- Bristow Group Inc. (NYSE: BRS), a leading provider of helicopter services to the offshore energy industry, announced today that it has successfully negotiated a two-year contract extension with a major customer in Nigeria. The extension is effective April 1, 2008 and includes two large and one medium helicopter. Total value of the new contract is estimated at $54 million, which reflects a rate increase in the first year, with an additional rate escalation in the second year.
William E. Chiles, President and Chief Executive Officer, said, "This contract extension is another significant step toward achieving our goal of improved operating margins for our business in Nigeria."
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. These forward-looking statements include statements regarding future revenues. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's quarterly report on Form 10-Q for the quarter ended December 31, 2007 and the annual report on Form 10-K for the year ended March 31, 2007. Bristow Group Inc. disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise.
ABOUT BRISTOW GROUP INC.
Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Mexico, Nigeria, Russia and Trinidad. For more information, visit the Company's website at http://www.bristowgroup.com.
SOURCE: Bristow Group Inc.
CONTACT: Linda McNeill, Investor Relations, +1-713-267-7622, for Bristow
Web site: http://www.bristowgroup.com