Wood Group extends its reach with deal in Texas

By PETER RANSCOMBE
Published on 04/08/2012 00:00

WOOD Group, the Aberdeen-based energy services firm, yesterday snapped up Texas-based engineering and maintenance company Duval to extend its presence in North America’s shale oil market.

Duval, which operates in the Eagle Ford shale region of Texas, posted sales of $32 million (about £20m) last year and had assets of $14m at 30 June.

Derek Blackwood, president-Americas of Wood Group’s production services network division, said: “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 and gas markets.”

Duval has about 300 staff and will continue to be led by its existing management team.

Rene Casas, president of Wood Group Duval, as the new unit will be known, said: “We are pleased to be joining Wood Group. Duval has achieved strong growth over recent years and we anticipate the strong shale market, momentum in our business and the support of Wood Group will enable continued growth.”