Four of ClearStream’s contracts with 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 midstream oil and gas company, are estimated to generate a total of US$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.
