Mears Group Inc.,
Mears provides pipeline-related engineering and construction services, including turnkey pipeline integrity management, pipeline construction services, and horizontal directional drilling services.
CGGVeritas,
Paris, has announced that its Hampson-Russell Software & Services division has sold full commercial rights of its GLI3D refraction statics software to GeoTomo LLC, Houston. The decision reflects the focus of Hampson-Russell on its reservoir characterization suite of software products and the software's fit with GeoTomo's portfolio.
GeoTomo creates and distributes surface and downhole seismic modeling and imaging software products.
Hampson-Russell is a global provider of seismic reservoir characterization software and services.
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 agreed to acquire InfrastruX Group for $480 million in cash and stock. The acquisition creates an engineering and construction service provider with leadership positions in the global natural gas infrastructure markets as well as the fast-growing electric power transmission and distribution markets in North America. Under the agreement, stockholders of privately held InfrastruX will receive $360 million in cash and 7.9 million new Willbros shares, amounting to 19.9% of outstanding Willbros shares or $120 million, based on the Willbros 10-day average closing stock price as of March 10, 2010. In addition, InfrastruX stockholders will be eligible for contingent earn-out payments of up to $125 million in the aggregate.
InfrastruX is a leading US provider of electric power and natural gas transmission and distribution infrastructure services.
Willbros is a leading international contractor, providing engineering and construction services to the oil, gas, and power industries.
More Oil & Gas Journal Current Issue Articles
More Oil & Gas Journal Archives Issue Articles
View Oil and Gas Articles on PennEnergy.com