ABERDEEN, Scotland, Nov. 11 (UPI) -- Scottish energy company Wood Group said Monday it was acquiring Elkhorn Holdings Inc. to expand its shale footprint in the United States.
Oil and gas services company Wood Group said it acquired Elkhorn, which last year generated sales of $250 million from its pipeline and facility maintenance services in the Niobrara, Permian, Marcellus and Utica shale regions of the United States.
"The acquisition of Elkhorn is an important part of our U.S. shale strategy and will expand our service portfolio for our U.S. onshore customers," Robin Watson, chief executive of Wood Group, said in a statement.
Niobrara, Permian and Marcellus are among the largest shale reserves in the United States. Activity in the Utica area, situated mostly in Ohio, is expected to pick up next year, Ohio state officials said in May.
Neither company published the financial terms of a transaction that still needs U.S. anti-trust approval to proceed. Elkhorn employs 2,200 people in the United States at 11 locations.
