FORT ST. JOHN, British Columbia, May 08, 2019 (GLOBE NEWSWIRE) -- Macro Enterprises Inc. (TSXV:MCR) (the “Company” or “Macro”) is pleased to announce that it has been awarded a contract for the construction of the Saturn Compressor Station, a single-unit greenfield compressor station located near Dawson Creek, B.C. that is part of the NOVA Gas Transmission Ltd. (“NGTL”) North Montney Mainline Project. NGTL is a wholly owned subsidiary of TransCanada Pipelines Limited.
The lump-sum contract value is in excess of $30.0 million. The work includes the removal, transportation and installation of a single 15.1 MW ISO rated gas-turbine-driven centrifugal compressor unit consisting of a Solar T130 Dry Low Emissions (DLE) gas turbine, a C65-2 compressor, and associated auxiliary buildings from the Moody Creek Alberta Compressor Station to the Saturn Compressor Station. High pressure gas piping, and utility piping and cable interconnects between buildings will all be newly fabricated and installed at the new site (Saturn.) Some new structural steel packages along with the relocation of existing structural steel as per the drawing package will be required.
Construction is expected to commence in early May 2019, with substantial completion and in-service scheduled for the second quarter of 2020.
In addition, Macro is continuing its construction of the Groundbirch Compressor Station on the NGTL project with its expected completion scheduled for the third quarter of 2019.
The Company
Macro’s core business is providing pipeline and facilities construction and maintenance services to major companies in the oil and gas industry within Canada. The Company’s corporate office is in Fort St. John, British Columbia. Its shares are listed on the TSX Venture Exchange under the symbol MCR. Information on the Company’s principal operations can be found at www.macroindustries.ca
For further information please contact:
Frank Miles Jeff Redmond, CPA, CA
President & C.E.O. C.F.O. & Corp. Secretary
Phone: (250) 785-0033 Phone: (250) 785-0033
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding the expected commencement and completion dates for the Saturn and Groundbirch Compressor Station Projects. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to the Company's ability to obtain any permits, consents or authorizations required for its planned construction activities on the Project. Readers are referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.