Bristow’s Canadian affiliate, Cougar Helicopters, is among several operators to place orders valued at $2.8 billion since the start of 2014. Mike Reyno Photo
Bristow Group has obtained several renewal and new multi-year contracts for oil and gas, and search-and-rescue (SAR) operations since the beginning of 2014, the company announced in advance of the Johnson Rice Energy Conference. These contracts provide for a total of 31 large and five medium helicopters and are expected to generate in excess of $2.8 billion in revenue over the current life of the contracts.
Jonathan E. Baliff, president and CEO, commented: “We continue to enter new markets by creating a more integrated logistics solution for our global clients. The renewal of existing contracts in Canada that were not previously disclosed and the securing of new contracts in new markets like the Falklands are proof of our ability to expand through a complete and differentiated suite of point to point transportation services. These successes derive from the innovation and close coordination that our operations, commercial, and finance teams bring to our clients every day, worldwide. These contract wins also exemplify the strong demand we continue to see for offshore logistics services, specifically as it relates to the increasing number of deepwater production facilities across the globe.”
Summary of Bristow contracts for the first part of 2014. Bristow Info Chart
In its European business unit, Bristow has been awarded several new contracts:
• A five-year contract for one large helicopter that commenced in June 2014;
• A previously announced three-year contract for one large helicopter commencing in April 2015 with extension options totaling six years;
• Two-year contracts for two different clients for one large and one medium helicopter. One previously announced contract commenced in June 2014 with up to three-year extension options and the second one started in July 2014;
• One-year contracts each for two different clients for three new large helicopters.
• One previously announced contract commenced in June 2014, and the other for two large helicopters commenced in September 2014;
• A one-year contract for three large helicopters starting in February 2015 with a two-year option to support drilling operations. One aircraft will be used for crew change work, the second one will be dedicated to SAR operations while the third helicopter will have dual use; and
• A six-month contract for two large helicopters, which started in June 2014.
In its North American Business Unit, Bristow also has secured several new contracts:
• A new contract for a large helicopter beginning in February 2015 for one year with a two-year option to extend;
• A previously announced five-year contract for one large helicopter starting in October 2015 with options to extend up to three years;
• A previously announced three-year contract for one large helicopter commencing in August 2015 with options to extend up to two years;
• Two previously announced one-year contracts each for two different clients for two large helicopters. One contract commenced in April 2014, and the second will start in December 2014; and
• Bristow’s Canadian affiliate, Cougar Helicopters, has been successful in renewing a six-year contract for seven existing and two new helicopters commencing in March 2016 with options to extend up to four years, as well as an unpriced option for five additional years. This contract award by a consortium of major clients provides for passenger crew change and dedicated SAR services.
Bristow also has secured several new contracts in other operating regions:
• In its Australian business unit, Bristow has been awarded three new contracts for six large helicopters. One contract for two helicopters commenced work in April 2014 for a period of three years with options to extend an additional two years. The second previously announced contract for three helicopters will commence work in December 2015 for a period of two years with options to extend an additional two years. The third contract for one helicopter will commence work in October 2014 for a period of three years.
• In its West African business unit, Bristow has been awarded two new contracts for one medium helicopter each. One contract commenced in April 2014 for a period of two years with a two one-year options, and the other contract started in May 2014 for a period of one year;
• In our Other International business unit, Bristow was awarded a previously announced six month contract for two medium helicopters starting in April 2015.
