Valerus Selling Field Solutions Unit

Spinoff enables more focus on contract compression


Published:

Valerus has agreed to sell Valerus Field Solutions for US$435 million to Kentz Corp. Ltd., the holding company of the Kentz engineering and construction group.

Valerus Field Solutions consists of processing and treating, production equipment, compression and integrated services business lines. The remaining Valerus contract services and after-market service business lines will become a stand-alone company. The two businesses will continue to work together.

Steve Gill, presently the senior vice president of commercial, will be CEO for Valerus Field Solutions under Kentz. Pete Lane, current Valerus CEO, will continue in that role for the remaining company, which will be renamed.

Valerus said the sale will enable it to focus on delivering service-based solutions for customers including contract compression, contract production and processing solutions, fee-based gathering, processing and pipeline solutions, and aftermarket field services globally.

Archive »Recent Articles

USA Compression Fleet Up 24%

USA Compression Partners (USAC) has reported its fleet totaled1.4 million hp (1044 MW) on Sept. 30, up 24% from the third quarter of 2013.

Exterran Gets Oklahoma Equipment Order

Exterran has signed an agreement with Woodford Express LLC for a natural gas processing project.

Answer: Athens Of The South - October 2014

Athens Of The South - October 2014

Exterran’s C-Series Gas Compression Packages

Exterran recently launched its C-Series line of configurable compression packages, pre-engineered with a wide range of configuration options.