JDR, the global subsea cable supplier and servicer owned by the TFKable Group, said July 29 it has begun construction of a new U.S. headquarters in Tomball, Texas, a part of the Houston metropolitan area. The building will consolidate three of JDR’s existing facilities in the region to expand its IWOCs rental business to support current demand.
The construction of the building began in July 2020 and after completion, JDR plans to acquire engineers and highly qualified service technicians, to expand its local presence. The key focus of the facility will be to construct and test new-build IWOCS equipment and support service activities on-site. It will allow for more physical space (10 acres) to improve efficiencies and safety measures in its supply chain, as well as reduce transportation costs.
“Beginning construction of our new Houston headquarters marks a significant milestone for our US business, and we’re delighted to bring our ongoing success in the region to Tomball,” Brian Davis, Houston general manager at JDR, said. “Our Houston based business has grown strongly over the last decade, following an increased demand from our customers for IWOC rental systems. We have also increased our manufacturing and service support for our oil and gas customers in the Gulf of Mexico and abroad.”
The facility will perform a wide range of functions, including engineering and management for global projects, assembly of a variety of oilfield equipment, and support for its offshore service business.
The facility is planned to be completed in the first half of 2021.
The all-stock acquisition of Parsley Energy valued at over $7 billion gives Pioneer Natural Resources combined control of nearly 1 million acres across the Permian Basin with positions in both the Delaware and Midland sub-basins.
The addition of Brent Smolik, formerly president and COO of Noble Energy, increases the size of the Marathon Oil board of directors to nine, according to a company filing.
Earthstone Energy completed its cash-and-stock acquisition of Independence Resources Management, a Midland Basin operator backed by Warburg Pincus, previously announced on Dec. 18.