Private Equity

Home>Topics>Private Equity
Refine Results
  1. All
  2. Articles
  3. Online Articles
  4. Magazine Articles
  5. Videos
  1. Baker Hughes, private equity to form land pressure pumping firm

    Oil field services firm Baker Hughes Inc. (BHI), Houston private equity firm CSL Capital Management LLC , and West Street Energy Partners LP (WSEP), a fund managed by the merchant banking division of Goldman Sachs, have agreed to form a pure-play North American land pressure pumping company. The new company, to be headquartered in Tomball, Tex., will operate under the BJ Services Co. brand and feature 1.9 million hydraulic hp and more than 240 cementers. Under terms of the agreement, BHI will contribute its North American land cementing and hydraulic fracturing businesses, which comprise assets in the US and Canada. This includes personnel, technology, and infrastructure. CSL Capital will contribute its Allied Energy Services LLC platform, which provides hydraulic fracturing and cementing services on land in North America. CSL Capital and WSEP will together contribute $325 million in cash, of which $175 million will be used to strengthen the new firm’s balance sheet and position it for growth, while the remaining $150 million will go to BHI. CSL Capital and WSEP together will own 53.3% of the new company, and BHI will retain 46.7% ownership stake. Warren Zemlak, current president and chief executive officer of Allied Energy Services and former long-time senior executive with both Schlumberger Ltd. and Sanjel Corp., will serve as chief executive officer of BJ Services. The agreement excludes BHI’s international pressure pumping businesses and its Gulf of Mexico offshore pressure pumping operations, which the firm will continue to operate. BHI struck a deal for BJ Services in 2009 as it sought to expand its pressure pumping business ( OGJ Online, Aug. 31, 2009 ). Following its failed merger with Halliburton Co., BHI in October agreed to merge with General Electric Co.’s oil and gas division, creating an equipment, technology, and services provider with $32 billion of combined revenue and operations in more than 120 countries ( OGJ Online, Oct. 31, 2016 ).

    Online Articles

    Online Articles

    Wed, 30 Nov 2016

  2. First Reserve-based Tri-Point makes acquisitions

    Tri-Point has acquired three companies that specialize in oil and gas production and processing equipment and associated services.

    Online Articles

    Online Articles

    Mon, 5 Dec 2016

  3. Advent takes charge of V.Group

    Advent International has agreed to acquire a controlling interest in offshore vessel management and support services provider V.Group from OMERS Private Equity .

    Online Articles

    Online Articles

    Tue, 6 Dec 2016

  4. Consultant sees upsurge in oilfield services mergers

    Mergers and acquisitions could become more frequent in the oilfield services sector over the next 18 months, according to professional services firm KPMG.

    Online Articles

    Online Articles

    Tue, 29 Nov 2016

  1. Mexico’s upcoming deepwater oil auctions attracting great interest

    Online Articles

    Online Articles

    Tue, 29 Nov 2016

  2. KPMG: Modest upturn in oilfield services M&A in 2017, 2018

    Mergers and acquisitions could become a greater feature of the oilfield services landscape in the next 18 months as businesses move out of survival mode and look to the future, according to KPMG.

    Online Articles

    Online Articles

    Mon, 28 Nov 2016

  3. Centennial to add more Delaware basin assets in $855-million deal

    Centennial Resource Development Inc., Denver, has agreed to acquire 100% of the leasehold interests and related upstream assets in Reeves County, Tex., owned by Silverback Exploration LLC, San Antonio, for $855 million.

    Online Articles

    Online Articles

    Mon, 28 Nov 2016

  4. Energy Ventures to invest in North Sea businesses

    Independent private equity firm Energy Ventures is offering to invest $200 million in North Sea oil and gas businesses.

    Online Articles

    Online Articles

    Tue, 8 Nov 2016

  5. Fluid Delivery Solutions acquires Raging Bull Oilfield Services

    Fluid Delivery Solutions LLC has acquired Raging Bull Oilfield Services LLC, a water transfer and equipment rental business focused on the Permian basin.

    Online Articles

    Online Articles

    Thu, 27 Oct 2016

  6. Infinis landfill gas division sold for £185m

    3i Infrastructure will pay £185m to acquire the landfill gas division of Infinis, one of Britain's leading renewable energy companies, and its subsidiaries.

    Online Articles

    Online Articles

    Tue, 1 Nov 2016

  7. Covey Park acquires Haynesville, Bossier assets

    Affiliates of Covey Park Energy LLC a Dallas have acquired additional assets located in the Haynesville/Bossier shale areas of East Texas and North Louisiana.

    Online Articles

    Online Articles

    Thu, 3 Nov 2016

  8. BNK Petroleum appoints Neuhauser as director

    BNK Petroleum Inc. has named David Neuhauser as a new director of the company.

    Online Articles

    Online Articles

    Tue, 1 Nov 2016

Get More Results