Bristow Group Announces $850M in New Multi-Year Contracts
Bristow Group Inc. (NYSE: BRS), a leading provider of helicopter services to the offshore energy industry, announced today that it has secured several new multi-year oil and gas contracts for the provision of a total of 12 large and three medium helicopters that are expected to generate up to $850 million in revenue. Six of the 12 large helicopters are new Sikorsky S-92s.
In Europe, Bristow has been awarded several new contracts:
A seven-year contract commencing in September 2013 using one new and one existing large helicopter with two one-year extension options;
A five-year contract with each of three different clients for two new and one existing large helicopter. One contract commenced in August 2013 with two one-year extension options, the second one starts in September 2013 and the third one in February 2014;
A 30-month contract for one new large helicopter starting in December 2013; and
A two-year contract for one existing large helicopter commencing in October 2013 with two one-year extension options.
Bristow also has secured several new contracts in other operating regions:
In Australia, Bristow has been awarded two new contracts for three existing large helicopters. One