Exterran Corporation Provides Commercial Update
23 Septembre 2021 - 12:30PM
Exterran Corporation (NYSE: EXTN) (“Exterran” or the “Company”)
today offered a commercial update. The Company has been awarded a
new Contract Operations project for our Exterran Water Solutions
business at a similar value to the project the Company announced
earlier this year. With this new water project, water
will now comprise over 25% of the total Company’s Contract
Operations backlog. This new contract was included in the Company’s
previously communicated multi-year forecast.
Andrew Way, Exterran’s President and Chief Executive Officer
commented, “As we have shared over the past couple of quarters, we
expected to win at least one more incremental water ECO award and
I’m happy to announce that we have now been awarded the contract.
This is a long-term multi-year contract that will treat over
150,000 barrels of water per day, leveraging our gas flotation
technology. Water is now over 25% of our backlog for ECO and
continues to highlight our transition and transformation. Our
sustainable fully integrated gas and water solutions continue to
help our customers lower their emissions and fresh water usage.
Commercial activity as a whole remains strong with a growing
opportunity set and we remain confident in further awards in the
quarters to come, but exact timing remains the biggest
challenge.”
About Exterran CorporationExterran
Corporation (NYSE: EXTN) is a global systems and process
company offering solutions in the oil, gas, water and power
markets. We are a leader in natural gas processing and treatment
and compression products and services, providing critical midstream
infrastructure solutions to customers throughout the
world. Exterran Corporation is headquartered
in Houston, Texas and operates in approximately 25
countries.
For more information, contact:Blake Hancock,
Vice President of Investor Relations, at 281-854-3043Or visit
www.exterran.com
Forward-Looking StatementsAll statements in
this release (and oral statements made regarding the subjects of
this release) other than historical facts are forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. These statements may include
words such as “guidance,” “anticipate,” “estimate,” “expect,”
“forecast,” “project,” “plan,” “intend,” “believe,” “confident,”
“may,” “should,” “can have,” “likely,” “future” and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events. Examples of forward-looking information in this
release include, but are not limited to: Exterran’s financial and
operational strategies and ability to successfully effect those
strategies; Exterran’s expectations regarding future economic and
market conditions; the expected impact of COVID-19 on Exterran’s
business; and Exterran’s financial and operational outlook and
guidance, and ability to fulfill that outlook and guidance;
These forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties and factors, many of which are outside Exterran’s
control, which could cause actual results to differ materially from
such statements. As a result, any such forward-looking statements
are not guarantees of future performance or results. While Exterran
believes that the assumptions concerning future events are
reasonable, it cautions that there are inherent difficulties in
predicting certain important factors that could impact the future
performance or results of its business. Among the factors that
could cause results to differ materially from those indicated by
such forward-looking statements are: conditions in the oil and
natural gas industry, including a sustained imbalance in the level
of supply or demand for oil or natural gas or a sustained low price
of oil or natural gas, which could depress or reduce the demand or
pricing for Exterran’s natural gas compression and oil and natural
gas production and processing equipment and services; reduced
profit margins or the loss of market share resulting from
competition or the introduction of competing technologies by other
companies; economic or political conditions in the countries in
which Exterran does business, including civil developments such as
uprisings, riots, terrorism, kidnappings, violence associated with
drug cartels, legislative changes and the expropriation,
confiscation or nationalization of property without fair
compensation; risks associated with natural disasters, pandemics
and other public health crisis, and other catastrophic events
outside of Exterran’s control, including the impact of, and the
response to, the ongoing COVID-19 pandemic; changes in currency
exchange rates, including the risk of currency devaluations by
foreign governments, and restrictions on currency repatriation;
risks associated with cyber-based attacks or network security
breaches; changes in international trade relationships, including
the imposition of trade restrictions or tariffs relating to any
materials or products (such as aluminum and steel) used in the
operation of Exterran’s business; risks associated with Exterran’s
operations, such as equipment defects and equipment malfunctions,
environmental discharges; the risk that counterparties will not
perform their obligations under their contracts with Exterran or
other changes that could impact Exterran’s ability to recover its
fixed asset investment; the financial condition of Exterran’s
customers; Exterran’s ability to timely and cost-effectively obtain
components necessary to conduct its business; employment and
workforce factors, including Exterran’s ability to hire, train and
retain key employees; Exterran’s ability to implement its business
and financial objectives, including: (i) winning profitable new
business, (ii) timely and cost-effective execution of projects,
(iii) enhancing or maintaining Exterran’s asset utilization,
particularly with respect to its fleet of compressors and other
assets, (iv) integrating acquired businesses, (v) generating
sufficient cash to satisfy Exterran’s operating needs, existing
capital commitments and other contractual cash obligations,
including Exterran’s debt obligations, and (vi) accessing the
financial markets at an acceptable cost; Exterran’s ability to
accurately estimate its costs and time required under its fixed
price contracts; liability related to the use of Exterran’s
products, solutions and services; changes in governmental safety,
health, environmental or other regulations, which could require
Exterran to make significant expenditures; and risks associated
with Exterran’s level of indebtedness and ability to fund its
business.
These forward-looking statements are also affected by the risk
factors, forward-looking statements and challenges and
uncertainties described in Exterran’s Annual Report on Form 10-K
for the year ended December 31, 2020, and other filings with the
Securities and Exchange Commission available on the Securities and
Exchange Commission’s website www.sec.gov. A discussion of these
risks is expressly incorporated by reference into this release.
Except as required by law, Exterran expressly disclaims any
intention or obligation to revise or update any forward-looking
statements whether as a result of new information, future events or
otherwise.
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