Wood Group said Dec. 21 it has acquired Kelchner Inc., a privately-owned U.S.-based provider of construction and energy field services. The value of the transaction wasn't disclosed.
The acquisition will add to Houston-based Wood Group's geographical footprint in the major U.S. shale regions, said Dave Stewart, Wood Group PSN CEO.
The addition extends "our presence to Marcellus and Utica, where we will leverage Kelchner’s 65 years of expertise to enhance our client service provision," Stewart said in a statement.
Kelchner will operate within the onshore business of Wood Group PSN Americas, the release said. The company will provide construction capabilities primarily to the midstream and upstream oil and gas sector in the Marcellus and Utica shale basins, and broader industrial sectors.
The firm serves the energy and industrial markets providing turnkey compressor and metering stations, civil work, fabrication, roustabout and well pad and roadway construction services. In 2014 Kelchner generated sales of about $93 million, according to the release.
Kelchner operates from headquarters in Springboro, Ohio, and other locations in the eastern U.S. CEO Todd Kelchner will continue to lead the existing management team and about 375 personnel.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.