GE Acquiring Camerons Recip Division


Published:

Cameron has agreed to sell its reciprocating compression division to GE Oil & Gas for US$550 million and, at press time, was considering the sale of its centrifugal compression business.

The company’s recip business provides reciprocating compression equipment and aftermarket parts and services for oil and gas production, gas processing, gas distribution and independent power industries.

The division, which generated sales of about US$355 million in 2012, has 900 employees and operates from 20 global locations. If U.S. regulatory agencies approve, the acquisition is expected to close during the third quarter.

Read the full story in the March Issue of COMPRESSORtech2!

Updated: GE Finalizes Camerons Recip Purchase

Archive »Recent Articles

CNG Export Proposal Pending

A Morgan Stanley subsidiary has applied to the U.S. Department of Energy for a permit to export up to 60 Bfcy (1.7 x 109 m3/y) of compressed natural gas (CNG) gas from a proposed terminal near Freeport, Texas.

Cameron Sells Centrifugal Division to Ingersoll Rand

Cameron is selling its centrifugal compression division to Ingersoll Rand (IR) for US$850 million as part of a long-term business strategy to focus on its core markets.

U.S. Gas Exports to Mexico Set Record

U.S. natural gas exports to Mexico were a record 2.5 Bcfd (70.8 x106 m3/d) on July 24 and averaged 2.3 Bcfd (65.1 x106 m3/d) from June through August, more than double the pipeline flow in 2010.

USA Compression Orders More Horsepower

USA Compression Partners LP, Austin, said its fleet horsepower has increased 38.9% to 1.3 million hp (1000 MW), compared to the same period last year, aided in part by its acquisition of 138,000 hp (103 MW) from S&R Compression in August 2013.

Compressco Partners Improves Utilization Rate

Compressco Partners of Oklahoma City reported that its average compressor fleet utilization rate was 85.3% during the second quarter, compared to 82.6% in the same period of 2013.