U.S.-based technology, engineering, procurement and construction company KBR, Inc. KBR recently won a multi-phased contract for Front-End Engineering and Design (“FEED”) for the Woodfibre Liquefied Natural Gas (“LNG”) Project.
Though the value of the contract has been kept under wraps, KBR will book the first phase of this multi-phased contract into the backlog of unfilled orders under its Engineering & Construction business segment, in the first quarter of 2016.
Per the contract, KBR will provide FEED services — including FEED optimization, pre-FEED, FEED, and development of a fixed price offer for engineering, procurement and construction services, for the proposed 2.1 MTPA liquefaction plant and export facility. The project is located in the District of Squamish near Vancouver, British Columbia, Canada.
KBR enjoys a robust track record for developing LNG projects in British Columbia. Its services will ensure the Woodfibre LNG Project is engineered and designed to the highest standards.
The company has won many strategically significant orders recently, such as the Magnolia LNG project in Louisiana which has been appended to the backlog of unfulfilled orders.
KBR remains optimistic about the performance of its key business segments in the coming quarters, based on favorable industry trends and its ability to capitalize on them. For the E&C segment, the company expects to reap synergies from LNG, FLNG, oil & gas and ammonia/urea projects. Also, the company holds a record of winning lucrative contracts that successfully complement its growth.
KBR currently has a Zacks Rank #3 (Hold). Other stocks in the same industry include Jacobs Engineering Group Inc. JEC, Layne Christensen Company LAYN and Quanta Services, Inc. PWR.
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