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 »Archive »

Roberto Chellini

It is with great sadness that we report the passing of Roberto Chellini recently in Florence, Italy. He was 82 years old.

Nat Gas Output Expected To Grow 62%

Worldwide natural gas production is expected to increase 62% by 2040, according to the U.S. Energy Information Administration’s (EIA’s) International Energy Outlook 2016 and Annual Energy Outlook 2016.

Capstone Puts Its Signature On New Order

Capstone Turbine Corp. received an order for two Signature Series microturbines (the C1000S and C600S) for an oil and gas platform off the California coast.

A New Way For Bently

New Way Air Bearings has acquired the assets of Bently Pressurized Bearing Co., Minden, Nevada.

Siemens Invests in Additive Manufacturing

Siemens has acquired 85% of Materials Solutions Ltd., a specialist in additive manufacturing (AM) processing and production, located in Manchester, U.K. The remaining 15% will be held by the founder of the company, Carl Brancher.