Primoris Services' Sprint Pipeline Services Wins $90 Mln Contract - Quick Facts

(RTTNews) - Primoris Services Corp. (PRIM) announced recent major contract awards from midstream oil & gas companies totaling approximately $90 million.

Sprint Pipelines Services , a Primoris subsidiary and part of the East Construction Services segment, secured the new contracts and work authorizations.

The largest contract consists of a 95 mile, 20" diameter pipeline portion of the BridgeTex Pipeline, which will transport 300,000 barrels per day of crude oil between Colorado City, TX, and Texas City, TX. The Sprint contract segment runs from near College Station, TX, south to Houston, TX. The work will commence in the fourth quarter of 2013 and should be completed in the second quarter of 2014.

The second contract, located near Galena Park, TX, consists of a total of 4.5 miles of pipeline, 20" and 24", to transport oil between storage and processing facilities. Work commenced in the third quarter of 2013 and should be completed in the first quarter of 2014.