Cooper closes $90M Petreco acquisition - March 07, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2004

Vol. 7, No. 10

Week of March 07, 2004

Cooper closes $90M Petreco acquisition

Ray Tyson

Petroleum News Houston correspondent

Oilfield service company Cooper Cameron has closed its approximately $90 million acquisition of Petreco International, a Houston-based supplier of oil and gas separation productions, the company said March 1. Meanwhile, big service company Baker Hughes said it completed the sale of its minority interest in Petreco to Cooper for about $36 million. Petreco’s 2003 revenues were about $117 million, which generated about $12 million of income before taxes.

Cooper is an international manufacturer of oil and gas pressure control equipment, including valves, wellheads, controls, chokes, blowout preventers and assembled systems for oil and gas drilling, production and transmission used in onshore, offshore subsea applications. The company also manufactures centrifugal air compressors, integral and separable gas compressors and turbochargers.

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