Led by Industry Veterans, New Unit Continues Service Expansion Strategy
HOUSTON, April 21 /PRNewswire/ -- Boots & Coots International Well
Control, Inc. (Amex: WEL) announced today the formation of a new division to
provide global engineering and consulting support to the oil and gas field
industry.
The new business unit, named Boots & Coots Engineering and Consulting,
will provide staff engineering services for the drilling, completion and
production phases of oil and gas projects, as well as well-site consultants
and engineers.
Boots & Coots Engineering and Consulting will draw upon a cadre of the
industry's most seasoned professionals whose experience in the oil and gas
field totals more than 80 years. Led by Dick Polk as vice president of
engineering and consulting, and Steve Mayo, as director of international
operations, the division is expected to ultimately employ the expertise of
about 100 industry veterans to support customer requirements at locations
worldwide.
Boots & Coots said the new division is an extension of its program to
broaden its line of business across the complete scope of emergency services.
To that end, the engineering and consulting unit will engage in pre-event
planning and post-event recovery services and provide support to the
traditional well control activities associated with well blow-outs and fires.
"This is another significant step in the rapid evolution of our
company," said Larry H. Ramming, chairman of Boots & Coots IWC. "We
view this as further evidence of our commitment to offer the energy and
petrochemical industries the integrated solution they want for their
contingency planning, event response and post-event recovery needs."
Ramming added that the formation of the new operating unit complements
both the company's well control alliance with Halliburton and the recently
introduced WELLSURE insurance program; and extends the reach of Boots & Coots
IWC into important global markets.
Polk and Mayo, both formerly with Cudd Pressure Control, said, "This move
is an exciting development for our personnel and our customers. It allows us
to extend the industry's best expertise beyond our stronghold in the Gulf of
Mexico into a significant number of the world's most important markets."
Boots & Coots International Well Control, Inc., based in Houston, is a
global emergency response company that specializes, through its well control
unit, in responding to and controlling oil and gas well emergencies, including
oil and gas well blowouts and well fires, as well as providing a complete menu
of non-critical well control services through the Well Control Alliance with
Halliburton. Through internal growth, strategic acquisitions and continued
alliance integration with Halliburton, Boots & Coots intends to continue to
expand its role as an integrated, full-service, emergency-response company
with the in-house ability to serve the global needs of the oil and gas and
petrochemical industries.
Forward-looking statements contained in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that all forward-looking statements involve
risks and uncertainties which may cause actual results to differ from
anticipated results, including risks associated with the timing and
development of, and market acceptance of, the Company's services and products
as well as risks of downturns in economic conditions generally, risks
associated with competition and competitive pricing pressures, and other risks
detailed in the Company's filing with the Securities and Exchange Commission,
including its latest form 10-KSB and 10-QSB.
SOURCE Boots & Coots International Well Control, Inc.
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CONTACT: Thomas L. Easley, Chief Financial Officer of Boots & Coots International Well Control, 713-621-7911
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