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Willbros (NYSE: WG) snags Red River pipeline contract

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Orlando, FL - April 2, 2012 (Investorideas.com Newswire) - The Street Beat commentary - Willbros Group Inc. (NYSE: WG) said Monday one of its oil & gas units will contract for Energy Transfer Partners LP to build part of the Red River Pipeline.

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The Houston-based engineering and construction energy services company will undertake a 97-mile construction job that spans from Ardmore, Okla. to Denton, Texas. Willbros is expected to start early this month.

"The significant growth in the midstream market is driving additional opportunities for our strategy to offer comprehensive services to project developments in the liquid-rich drilling plays such as the Woodford shale," Willbros' President and CEO Randy Harl said in a statement.

Last year, Willbros snagged a $5 million contract from Defense Logistics Agency-Energy to operate a government-owned hydrant facility in Spain.

Willbros hit $466 million in revenue and had a net loss of $111 million in the nine-month period that ended September 2011. It was the 65th largest public company in Houston by revenue in 2011, according to the HBJ Book of Lists.

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