Edit ModuleShow Tags

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.

Edit ModuleShow Tags

Archive »Recent Articles

U.S. Gas Reserves Jumped 10% in 2013

Proved natural gas proved reserves in in the U.S. jumped 31 Tcf (878 x 109 m3) to a record 354 Tcf (10 x 1012 m3) last year, the Energy Information Administration (EIA) has reported.

Holt Cat Expands San Antonio Facility

Holt Cat has completed a US$11 million, 40,000 sq.ft. (3700 m2) heavy equipment service and rebuild facility at its San Antonio, Texas, complex.

GE Centrifugals Set for Canadian LNG Plant

Mexico Finishes First Los Ramones Pipeline

Mexican President Enrique Peña Nieto has inaugurated the first phase of the Los Ramones gas pipeline system in a ceremony at a compressor station near Los Ramones in Nuevo León state.

Shale Surpasses Conventional Gas

The U.S. Energy Information Administration (EIA) has reported that shale gas was the largest source of the record 82 Bcfd (2.3 x 109 m3/day) of U.S. natural gas withdrawals in 2013.