Willbros Introduces Leading-Edge Solution for Real-Time Pipeline Integrity Management
Geoeye, Inc. (MM) (NASDAQ:GEOY)
Today : Monday 16 April 2012
Willbros Group, Inc. (NYSE: WG) announced today a collaboration with GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, to develop a cloud-based pipeline integrity management solution. This cloud-based solution will provide customers easy access to real-time pipeline information integrated with GeoEye's high-resolution, map-accurate commercial satellite imagery served from the Google Earth Builder platform.
This innovative solution addresses the pipeline industry's need for timely and cost-effective access to accurate integrity management data to help them maintain and update aging pipeline infrastructure and comply with federal regulations and safety requirements. Built on the intuitive cloud-based Google Earth Builder platform, this solution will augment customers' existing GIS platforms with a single, reliable source for accessing vital pipeline integrity information for about half the cost of traditional disparate methods, helping operators better manage risk, lower operating costs and improve pipeline performance.
"This solution will become the new standard in pipeline lifecycle integrity management," said Ed Wiegele, Willbros President of Engineering and Integrity. "Real-time access to intelligence stored in the cloud will radically change the way pipeline owners and operators conduct business, respond to issues and maintain regulatory compliance. This platform solves many of the issues the pipeline industry has faced over the last decade by connecting people with the tools they need to access, correct and maintain information about a pipeline's complete lifecycle."
There are more than 2.5 million miles of pipelines in the U.S. and about 3,000 pipeline operators according to the U.S. Department of Transportation Pipeline & Hazardous Materials Safety Administration (PHMSA). This represents a large potential market that can benefit from this new integrated management solution.
Wiegele said this solution provides a total system for users to both access real-time pipeline data and enable efficient field data collection. Personnel in the field will be able to connect to and update data from laptops, tablets, smart phones and other portable devices.
"We are extremely pleased that Willbros selected GeoEye's EyeQ Earth imagery services built on Google Earth Builder for this solution," said Dean Edmundson, Vice President of Business Development for GeoEye. "Timely access to current, high-resolution pipeline imagery plays a critical role in delivering the clear and timely insight required for effective management across the pipeline integrity lifecycle."
About Willbros
Willbros Group, Inc. is an independent contractor serving the oil, gas, power, refining and petrochemical industries providing engineering, construction, turnaround, maintenance, lifecycle extension and facilities development and operations services to industry and government entities worldwide. For more information on Willbros, please visit our web site at www.willbros.com.
About GeoEye
GeoEye (NASDAQ: GEOY) is a leading source of geospatial information and insight for decision makers and analysts who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye's imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye's ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia, with more than 750 employees worldwide. Learn more at www.geoeye.com.
This announcement contains forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments the Company expects or anticipates will or may occur in the future, are forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from these statements, including the potential for additional investigations and lawsuits; disruptions to the global credit markets; the untimely filing of financial statements; the global economic downturn; fines and penalties by government agencies; new legislation or regulations detrimental to the economic operation of refining capacity in the United States; the identification of one or more other issues that require restatement of one or more prior period financial statements; contract and billing disputes; the integration and operation of InfrastruX; the consequences the Company may encounter if it is unable to make payments required of it pursuant to its settlement agreement of the West Africa Gas Pipeline Company Limited lawsuit; the existence of material weaknesses in internal control over financial reporting; availability of quality management; availability and terms of capital; changes in, or the failure to comply with, government regulations; ability to remain in compliance with, or obtain waivers under, the Company's loan agreements and indentures; the promulgation, application, and interpretation of environmental laws and regulations; future E&P capital expenditures; oil, gas, gas liquids, and power prices and demand; the amount and location of planned pipelines; poor refinery crack spreads; delay of planned refinery outages and upgrades; the effective tax rate of the different countries where the Company performs work; development trends of the oil, gas, power, refining and petrochemical industries; and changes in the political and economic environment of the countries in which the Company has operations; as well as other risk factors described from time to time in the Company's documents and reports filed with the SEC. The Company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
CONTACT:
Michael W. Collier
Vice President Investor Relations
Sales & Marketing
Willbros
713-403-8038
Connie Dever
Director Investor Relations
Willbros
713-403-8035
