CGGVeritas,
CGGVeritas is a leading international pure-play geophysical company delivering a wide range of technologies, services, and equipment (through Sercel) to the global oil and gas industry.
Willbros Group Inc.,
Houston, has completed the acquisition of privately held InfrastruX Group Inc. for about $360 million in cash, part of which was used to retire InfrastruX debt and pay InfrastruX transaction expenses, and through the issuance of about 7.9 million new Willbros shares. In addition, former InfrastruX shareholders will be eligible for contingent earn-out payments of up to an aggregate $125 million. Those earn-out payments begin when earnings before income tax, depreciation, and amortization for the InfrastruX business exceed $69.8 million in 2010 and $80 million in 2011. The InfrastruX acquisition expands Willbros's presence and service offerings in North America. The combination now includes engineering and construction (E&C) services for the electric power transmission and distribution (T&D) markets in addition to greater exposure to natural gas infrastructure build-out and shale play developments.
InfrastruX is a leading national provider of electric power and natural gas T&D infrastructure services.
Willbros is now a leader in three diverse end markets for E&C, maintenance, and life-cycle extension services: hydrocarbon infrastructure, including natural gas pipelines; refining and processing plants; and the North American electric power T&D market.
Foster Wheeler AG,
Zug Switzerland, has named Chris E. Covert president and CEO of the company's Houston-based subsidiary, Foster Wheeler USA. He replaces Robert Flexon, recently named CEO of Foster Wheeler AG. Covert joins Foster Wheeler from Fluor Corp., where he most recently served as senior vice-president and project director. He began his professional career in 1974 as a consulting civil engineer at Oblinger-Smith Corp. and as an instructor at Kansas State University. He joined Fluor in 1975 as a cost scheduling engineer based in Saudi Arabia. In subsequent years, he held positions of steadily increasing responsibility with Fluor, with assignments in Venezuela, Japan, the Netherlands, Canada, and the US. Covert has bachelor's and master's degrees in civil engineering from Kansas State University. He also completed the Advanced Project Management program at Rice University.
Foster Wheeler AG is a global E&C contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company's global engineering and construction group designs and constructs processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, environmental, pharmaceuticals, biotechnology, and healthcare industries. The company's global power group is a world leader in combustion and steam generation technology that designs, manufactures, and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters is in Geneva.
Key Energy Services Inc.,
Houston, has appointed Tommy Pipes to the new position of senior vice-president, industry relations. Previously, he was senior vice-president, rig services, since October 2008. Additionally, Jeff Skelly replaces Pipes in that role. Pipes joined Key in 1982, and since then he has held various positions with the company, including vice-president of business development, group vice-president for Permian basin operations for six years, area manager in Odessa, Tex., and district manager for Key's Seminole operations beginning in 1987. Skelly most recently served, since 2007, as COO at GEODynamics, an energy technology company focused on high performance perforating systems and solutions. From 2005 to 2007, he was president of Expro Americas Inc., a diversified oil field services company. Prior to that, Skelly held various management positions with Halliburton Energy Services in Houston and the Middle East. Skelly started his career with Schlumberger in Houston and held various positions with the field service, management and sales organizations in the US, Middle East, and Europe. Skelly has a BS in civil engineering and ocean engineering from Florida Institute of Technology.
Key has the largest fleet of onshore well service rigs in the world. It provides a complete range of well services, including rig-based well maintenance, workover, well completion and recompletion services, fluid management services, pressure pumping services, fishing and rental services, wireline services and ancillary oil field services. Key has operations in all major onshore oil and gas producing regions of the continental US and in Argentina, Mexico, and Russia. Additionally, Key has a technology development group based in Canada and ownership interests in oil field service companies in Canada.
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