Wood Group acquires Mitchell’s Oil Field Services

Wood Group has announced that they formed an agreement to acquire Mitchell’s Oil Field Services, Inc. for an initial consideration of $135M (USD). Mitchell’s is a provider of maintenance, installation and fabrication services in the oil-rich Bakken shale region. The transaction is subject to anti-trust approval in the US, with completion expected by the end of 2012.
“We are pleased to welcome Mitchell’s into the Wood Group PSN family,” said Derek Blackwood, president, Americas for Wood Group PSN. “The addition of Mitchell’s significantly expands our service offering and increases our presence in the region to approximately 650 personnel operating from nine locations. We look forward to extending relationships with existing clients and building relationships with new clients in the Bakken by offering them our full range of complementary services.”
Mitchell’s will operate within Wood Group PSN, and will complement the division’s existing operations & maintenance, construction supervision and survey services in the region. Mitchell’s will maintain its existing management team.
“This acquisition is in line with our strategy to expand our presence in the USoil shales and follows our purchase earlier this year of Wood Group Duval, which services the Eagle Ford shale region in South Texas,” said president of Mitchell’s, Todd Appel. “We are extremely excited to be joining Wood Group. Mitchell’s has achieved strong growth over recent years, and we anticipate the strong oil shale market, momentum in our business and the support of Wood Group will enable continued growth.”
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