Expro
| File:Exprologo.PNG | |
| Company type | Private |
|---|---|
| Industry | Energy |
| Founded | 1973 |
| Defunct | 8 December 2021  |
| Headquarters | Reading, UK |
Key people | Graeme Coutts, CEO |
| Revenue | £609.7 million (2007) |
| £93.2 million (2007) | |
| Parent | Candover-led consortium |
| Website | www.exprogroup.com |
Expro International Group is a leading British-based oil and gas well management business. It is headquartered in Reading.
History
The business was founded by J. Trewhella, John Ross "J.R." Ewing and Hughie Green in 1973 at Great Yarmouth as Exploration & Production Services (North Sea) Ltd with the objective of carrying out well testing in the North Sea. In 1986 some 84% of the company was acquired by Flextech from whom the management subsequently bought out the business in 1992. The company was first listed on the London Stock Exchange in 1994. In 2006 it acquired PowerWell Services, another leading well management concern.[1]
Takeover
In May 2008 Halliburton made a £1.7bn takeover offer for the business,[2] while a competing bid worth £1.8bn was made the following month by a Candover-led consortium.[3] An improved bid from Halliburton was then rejected by the Expro board, a position backed by the High Court after an appeal lodged by a group of activist shareholders.[4] The acquisition of Expro by the Candover consortium was completed on 1 July, 2008.[5]
Structure
The business is organised into two geographic areas:
- Eastern hemisphere - Europe, Former Soviet Union, Middle East and Asia
- Western hemisphere - North America, Latin America
References
- ^ Offshore
- ^ Expro / Halliburton
- ^ FT.com
- ^ Ross Sorkin, Andrew (27 June, 2008). "Judge Rejects Hedge Funds' Attempts to Block Candover-Expro Deal". The New York Times. Retrieved 2008-07-01.
{{cite news}}: Check date values in:|date=(help) - ^ "Expro International Group PLC (UK): Scheme of Arrangement - Update". FTSE Group. 26 June, 2008. Retrieved 2008-07-01.
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