Bowman Secures Contracts for Geospatial Data Collection and Asset Management in Texas

Rhea-AI Summary

Bowman Consulting Group (NASDAQ: BWMN) has secured two contracts worth nearly $900,000 for asset management and data collection services in Texas's Permian Basin. The projects cover 973 locations, including facilities and well sites in the Midland Basin's North and South regions.

The company will establish coordinate values for critical emission physical assets, including gas-driven devices and pneumatically actuated valves. Using advanced geospatial technologies, Bowman will conduct field surveys and implement quality control protocols for real-time data validation. The project, which aims to enhance asset visibility and support emissions management initiatives, is expected to complete by July 2025.

Positive

• Secured new contracts worth $900,000 in the Permian Basin
• Large-scale project covering 973 locations
• Project timeline extends to July 2025, providing steady revenue stream

Negative

• None.

Insights

Energy Infrastructure Analyst

This $900,000 contract win in the Permian Basin represents a strategic expansion of Bowman's energy infrastructure services. The scope encompasses critical emission asset mapping across 973 locations, positioning Bowman to capitalize on the growing demand for environmental compliance and asset management solutions in the oil & gas sector. The contract's focus on emissions management infrastructure aligns with increasing regulatory pressures and industry trends toward environmental monitoring. The 18-month project timeline through July 2025 provides stable revenue visibility and potential for follow-on work. While the contract value is relatively modest compared to Bowman's $426.5M market cap, it strengthens their presence in the strategically important Permian Basin region and demonstrates their technical capabilities in advanced geospatial services. This could lead to larger contracts with other energy producers seeking similar environmental compliance solutions.

Environmental Compliance Specialist

The contract's focus on mapping emission-related assets reflects the oil & gas industry's increasing emphasis on environmental monitoring and regulatory compliance. By providing detailed geospatial data for gas-driven devices and pneumatic valves, Bowman is helping their client build a comprehensive emissions management system. This positions them well in the growing market for environmental compliance services, particularly as regulations around methane emissions become more stringent. The implementation of quality control protocols and real-time data validation adds significant value, enabling more accurate emissions reporting and infrastructure management. This expertise in environmental asset mapping could become increasingly valuable as more energy companies seek to enhance their environmental monitoring capabilities.

RESTON, Va.--(BUSINESS WIRE)-- Bowman Consulting Group Ltd. (the Company or Bowman) (NASDAQ: BWMN), a national engineering services firm delivering infrastructure solutions and program management services to customers who own, develop and maintain the built environment, today announced it has secured two significant contracts, with a combined value of nearly $900,000, to provide asset management and data collection services for a leading exploration and production company in the Permian Basin region of Texas.

The projects include work across 973 total locations, consisting of both facilities and well sites in the Midland Basin’s North and South regions, situated within the broader Permian Basin. Bowman will provide field and office support services to establish coordinate values for all existing and new critical emission physical assets, such as gas-driven devices, pneumatically actuated valves and other key related infrastructure.

Bowman’s scope of work involves utilizing advanced geospatial technologies to conduct detailed field surveys, ensuring efficient data collection and analysis. As part of this effort, the Company will implement rigorous quality assurance and quality control protocols to validate and adjust the real-time data. These measures will ensure accurate results while enhancing asset visibility, supporting emissions management initiatives and delivering actionable insights for the client’s infrastructure tracking and reporting needs.

"These awards reflect our ability to deliver precise and reliable geospatial and measurement solutions that support oil and gas operators throughout the United States, and within the critical Permian Basin in particular,” said Dan Swayze, chief operating officer of Bowman. “Esteemed engagements like these demonstrate our commitment to technology leadership in every area of our business.”

The Company will also provide project management oversight and regular progress reporting to further support the client’s asset management initiatives. Field mobilization is currently underway, with project completion expected by July 2025.

About Bowman Consulting Group Ltd.

Headquartered in Reston, Virginia, Bowman is a national engineering services firm delivering infrastructure solutions to customers who own, develop and maintain the built environment. With over 2,300 employees in more than 95 locations throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219264110/en/

General Media Contact:

Renee Narvaez

pr@bowman.com

Investor Relations Contacts:

Bruce Labovitz

blabovitz@bowman.com

Betsy Patterson

bpatterson@bowman.com

Source: Bowman Consulting

FAQ

What is the value of Bowman's (BWMN) new contracts in Texas's Permian Basin?

Bowman secured two contracts with a combined value of nearly $900,000 in Texas's Permian Basin.

How many locations will Bowman's (BWMN) new Permian Basin project cover?

The projects cover 973 total locations, including facilities and well sites in the Midland Basin's North and South regions.

What services will Bowman (BWMN) provide in their new Texas contracts?

Bowman will provide asset management and data collection services, including coordinate value establishment for critical emission physical assets and geospatial technology surveys.

When is the expected completion date for Bowman's (BWMN) Permian Basin projects?

The projects are expected to be completed by July 2025.