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

Schlumberger To Acquire Cameron

Schlumberger and Cameron have jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction.

Siemens Supplying 10 Compressor Trains For LNG Project

Siemens has received a contract to supply the first 10 compressor trains for an LNG project in the United States. The customer, Mangolia LNG, is developing the mid-scale LNG facility on 115 acres of land in the Port of Lake Charles, Louisiana.

Compressor Station Reaches Full Capacity

A new gas-lift compressor station in the shallow area of the Guneshli field in the Azerbaijani sector of the Caspian Sea reached full capacity in mid-August.

EIA: Natural Gas Price Dip, Storage Jumps

Natural gas prices dropped at most market locations across the country during the Aug. 12 to Aug. 19 report week, according to the U.S. Energy Information Administration (EIA).

GE Takes To The Cloud

GE is set to enter the cloud services market with Predix Cloud, a cloud platform designed for industrial data and analytics.