ClearStream Announces New Project Award and Contract Renewals

Jan 02, 2019

CALGARY, Jan. 02, 2019 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”, TSX: CSM and CSM.DB.A) is pleased to announce four significant contract renewals and new work for Q4 2018. Four of ClearStream’s contracts with major Upstream, Midstream and Downstream Oil and Gas companies in Canada were up for renewal and all four were renewed, representing a 100% contract renewal rate for the third year in a row. Those renewals, together with a new project award from a major Midstream Oil and Gas company, are estimated to generate a total of $120 million in new backlog. ClearStream and its subsidiaries will be executing mechanical work, turnarounds and maintenance, fabrication and onsite construction services for the above-referenced companies.

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