ACHESON, Alberta – North American Construction Group Ltd. (NYSE:NOA), a leading oil and gas services provider, has secured a major heavy civil construction project. This development is set to enhance the company’s offerings within the energy and transportation sectors.

Operating under the name 01 Energy & Transportation, the Alberta-based company has yet to release the financial specifics of the project. However, the announcement, detailed in a filing with the United States Securities and Exchange Commission (SEC), underscores its ongoing commitment to expanding operations.

The company, a longstanding leader in the industry, delivers a wide array of services, including site preparation, piling, and pipeline installation. Previously operating as North American Energy Partners Inc. (NYSE:NOA), it has been a key player in the energy sector for years.

The project aligns with North American Construction Group's strategy to diversify its service offerings and strengthen its market position. While President and CEO Joe Lambert signed the SEC filing, he has not yet commented on the project specifics or its potential financial impact.

With its fiscal year-end on December 31, the company, incorporated outside the United States, filed the announcement under Form 6-K, designated for foreign private issuers. Consistent with past practices, it plans to continue filing annual reports under Form 40-F.

Recent Performance and Strategic Initiatives

North American Construction Group has seen remarkable success recently. In Q3 2024, the company achieved a record EBITDA of $106 million with a 29% margin, driven by robust Australian growth and thriving joint ventures. Fleet utilization in Canada reached 51%, with projections of 60% by year-end.

Other highlights include a strong bid pipeline exceeding $10 billion and a pro forma backlog of $3.1 billion. These developments signal robust activity and financial growth, with a projected 20% dividend increase for 2025. However, the company also acknowledged challenges in EV metals like lithium and nickel.

Management expressed optimism about future growth and cash flow generation, emphasizing plans for debt reduction in Q4. A recently announced partnership with Finning aims to improve fleet reliability and cost efficiency, further demonstrating the company’s strategic foresight.

This newly awarded project and the company's ongoing efforts position North American Construction Group for continued success in the energy services industry.