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APTIM and BWX Technologies, Inc. Awarded $1.4 Billion Contract for Strategic Petroleum Reserve

1. BWXT awarded $1.4 billion contract by DOE for SPR management. 2. Joint venture with APTIM will operate for five years, extendable by DOE. 3. SPR holds 714 million barrels of emergency crude oil. 4. Contract supports US energy security amid global supply disruptions. 5. BWXT expands its portfolio in governmental energy solutions.

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FAQ

Why Bullish?

The $1.4 billion contract can significantly boost BWXT's revenue and market presence. Historical contracts in energy sectors tend to positively influence stock prices.

How important is it?

The substantial value of the contract and BWXT's involvement in energy solutions indicate strong future performance. Given BWXT's strategic government partnerships, this contract heightens its growth potential.

Why Long Term?

The five-year contract provides stable revenue for BWXT, benefiting them over time. Notable previous contracts led to sustained increases in stock prices, impacting long-term valuations.

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APTMHIILLY
APTIM-led team awarded contract to manage and operate the US Department of Energy's Strategic Petroleum Reserve , /PRNewswire/ -- APTIM and joint venture partner BWX Technologies, Inc. have been awarded a $1.4 billion contract by the US Department of Energy (DOE) to manage and operate the Strategic Petroleum Reserve (SPR), as well as its associated facilities and systems in Louisiana and Texas. The joint venture, known as Strategic Storage Partners, LLC, will assume management and operation of SPR on June 15 for a five-year period with an option for DOE to extend the contract for an additional five years. "APTIM is honored to serve the DOE, the talented and committed SPR workforce, and the nation as the SPR fulfills its essential mission of protecting our energy and economic security. APTIM and our partner BWX Technologies will bring the experience, resources, and commitment required to deliver," said Mark Fallon, APTIM CEO and Chairman of the Strategic Storage Partners board of directors. As the world's largest supply (714 million barrels) of emergency crude oil, SPR's mission is to minimize disruptions of US petroleum supplies through emergency stocks and uphold the country's commitment to the International Energy Program. Federally owned oil stocks are stored in underground salt caverns at four sites along the Gulf Coast in Texas and Louisiana, protecting the US during international oil shortages. About APTIM APTIM enhances the quality of the environment, wellbeing of people, resilience of communities, and opportunity for employees to make a difference, not just a living. A leading professional solutions firm, we specialize in environmental, sustainability, resilience, and infrastructure solutions. Our team of experts provide these integrated solutions for forward-thinking government agencies, commercial and industrial clients, and energy customers. Together, we create sustainable and resilient communities for all. Learn more at APTIM.com, and connect with us on LinkedIn, Facebook, Instagram, and X. About BWXT At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. A U.S.-based company, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental restoration, nuclear medicine and space exploration. With approximately 7,800 employees, BWXT has 14 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at a dozen U.S. Department of Energy and NASA facilities. For more information, visit www.bwxt.com. Follow us on LinkedIn,  X, Facebook, and Instagram. SOURCE APTIM WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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