Friday, 5 December 2014

Cameron Awarded Multi-Year Contract For Hebron Development - 05/12/2014

Cameron Awarded Multi-Year Contract For Hebron Development

Cameron (NYSE: CAM) announced today that it has been awarded a multi-year contract by ExxonMobil Canada Properties for wellhead equipment and production trees for the Hebron project, a 52-well development located offshore Newfoundland.

Cameron will supply large-bore, high-pressure equipment including wellheads, production trees and risers. The contract also includes installation and commissioning services.
Cameron Chairman and Chief Executive Officer Jack Moore said, "Cameron's global experience and leadership working in hostile environments, including the Arctic, makes us an ideal partner to support the Hebron project over the full life of the field."

In conjunction with the contract, Cameron also will build a new state-of-the-art service center in St. John's, Newfoundland that will provide 24/7 support for its customers' operations.  

Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.

This document includes forward-looking statements regarding future orders of the Company made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The Company's actual results may differ materially from those described in forward-looking statements.  Such statements are based on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company, which can affect the Company's results of operations, liquidity or financial condition.  Such factors may include the size and timing of orders; the Company's ability to successfully execute orders it has been awarded; the possibility of cancellations of orders.  In particular, current and projected oil and gas prices historically have generally directly affected customers' spending levels and their related purchases of the Company's products and services. 

Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance.  Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

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