The collapse of prices on the US shale gas market has led to big write downs for major players such as BHP Billiton and BP â€“ but for oil and gas services firm Wood Group this has presented opportunities.
The Aberdeen-based business, which rents equipment and provides consultancy to the natural resources industry, bought a small US rival Duval which provides services to the Eagle Ford shale gas and oil region in Texas.
The British firm said: ‘The acquisition of Duval provides us with a robust platform for growth in the Eagle Ford shale region and increases our overall exposure to the US onshore unconventional oil and gas markets.’
Analysts at Oriel reiterated their ‘add’ recommendation and said that the deal ‘increases Wood’s exposure to the strong US shale activity’. Shares in Wood Group, which have risen almost 30pc over the past year, closed up 12p at 786p.
The coffee vending business is your opportunity to cash in on the 30 billion dollar coffee industry.
Can we solve the #1 Business problem people have today? Yes -- and the answer is simple...
Earn recurring monthly payments selling high-value mobile websites and apps to lucrative clients...
Mobile Gaming Revolution offers you the unique opportunity to be the center of EVERY party!
PromoSlam has a mission to develop real solutions for individuals and families
Mobile commerce, Over 95% of business do not have a mobile app.
Lia Sophia products have become a benchmark in quality and design for other companies...
Origami Owl serves as a vibrant and beautifully beaded inspiration to aspiring independent business owners.
Amazing opportunity for only $500 in an industry that is prime for sales.