Signal Hill-based The Source Group, Inc. named Construction Company of Year at Oil & Gas Awards
November 8th, 2013 · No Comments · News
The Source Group, Inc. (SGI) won the “Construction Company of the Year” Award at the 2013 West Coast Oil & Gas Awards on Oct. 24 at the Marriott at the Convention Center in Bakersfield. The Source Group’s Oil Field Services group received recognition for its expert oil-field restoration work in the Los Angeles Harbor region.
“We are proud to be recognized for our commitment to the oil and gas industry,” said Neil Irish, SGI partner and principal geologist. “Petroleum exploration companies in the Los Angeles Harbor region face challenging regulatory, operational and political obstacles because of increased environmental scrutiny. Over the last decades, we’ve developed a unique urban oil field site-restoration program that helps oil-production companies overcome these obstacles.”
Among the Oil & Gas Award judges comments for the competition were the following: “One of the biggest problems in the oil industry, not only in California but throughout the country, is a lack of proper oil field site restoration. Too many companies leave an area without proper field remediation, creating a dangerous and environmentally poor situation. The Source Group handles the situation with clarity and professionalism.”
The 52-person judging panel of industry professionals reviewed more than 400 entries from 250 companies across the US, according to Oil & Gas Financial Journal.
“We use a redevelopment-focused mindset that goes beyond meeting regulatory requirements,” said Chip Anzalone, operations manager for SGI Oil Field Services. “Our substantial industry experience, knowledge, and solid relationships in the L.A. brownfield redevelopment sector allows us to design and implement innovative processes to maximize the value of our clients’ restored properties– a benefit for all parties. For example, we’ve developed a fixed-cost restoration program that offers greater certainty to a typically unpredictable process.”
According to a press release from The Source Group, this fixed-cost program has evolved through the company’s long history of environmental restoration projects in the L.A. Harbor area and throughout California, and clients benefit from reduced financial risk, resulting in an enhanced balance sheet and financial position.
Source: The Source Group, Inc.