John Wood Group Plc (WG.L,WDGJF.PK) has purchased Duval, a provider of maintenance, installation and fabrication services in the Eagle Ford shale region of Texas. Duval, which generated sales of around $32 million during the year to December 2011, would operate as Wood Group Duval within Wood Group PSN, and would complement the unit's existing onshore US production facilities support services.
Duval, with nearly 300 personnel, would continue to be led by the existing management team. As at April 2012, Duval held gross assets of $14.0 million.
"The acquisition of Duval provides us with a robust platform for growth in the key Eagle Ford shale region and increases our overall exposure to the US onshore unconventional oil & gas markets," noted Derek Blackwood, president-Americas of Wood Group PSN.
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by RTT Staff Writer
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