Willbros Makes Last Payment to WAPCO

Wednesday, January 7, 2015

Willbros Group, Inc. made a payment of $32.75 million to West African Gas Pipeline Company Ltd. (WAPCO) under a previously agreed settlement agreement. The payment was made on December 30.

The $32.5 million payment settles all sums due under the March 2012 settlement agreement, which revolved around the sale of its Nigerian unit and its exit from Nigeria.

John T. McNabb, II, Chairman and CEO, commented: “With this matter fully behind us, we now have the flexibility in our credit facility to address the multiple opportunities in energy infrastructure we see ahead of us.”

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