Expro International Group
Encyclopedia
Expro International Group is a multinational
oil
and gas well management company headquartered in Reading
, United Kingdom
.
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.
made a £1.7bn takeover of the business, while a competing bid worth £1.8bn was made the following month by Umbrellastream, a Candover
-led consortium also comprising Goldman Sachs and Alpinvest. 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 shareholder
s. The acquisition of Expro by Umbrellastream was completed on 1 July 2008.
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
oil
Oil well
An oil well is a general term for any boring through the earth's surface that is designed to find and acquire petroleum oil hydrocarbons. Usually some natural gas is produced along with the oil. A well that is designed to produce mainly or only gas may be termed a gas well.-History:The earliest...
and gas well management company headquartered in Reading
Reading, Berkshire
Reading is a large town and unitary authority area in England. It is located in the Thames Valley at the confluence of the River Thames and River Kennet, and on both the Great Western Main Line railway and the M4 motorway, some west of London....
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
History
The business was founded by J. Trewhella, J. Ross and H. Green in 1973 at Great YarmouthGreat Yarmouth
Great Yarmouth, often known to locals as Yarmouth, is a coastal town in Norfolk, England. It is at the mouth of the River Yare, east of Norwich.It has been a seaside resort since 1760, and is the gateway from the Norfolk Broads to the sea...
as Exploration & Production Services (North Sea) Ltd with the objective of carrying out well testing in the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
. In 1986 some 84% of the company was acquired by Flextech
Flextech
Living TV Group was a British television content subsidiary of British Sky Broadcasting. It is now defunct as a company but Sky Living, Sky Livingit, Sky Living Loves and Challenge are still in operation by BSkyB.-Overview:...
from whom the management subsequently bought out the business in 1992. The company was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 1994. In 2006 it acquired PowerWell Services, another leading well management concern.
Takeover
In May 2008 HalliburtonHalliburton
Halliburton is the world's second largest oilfield services corporation with operations in more than 70 countries. It has hundreds of subsidiaries, affiliates, branches, brands and divisions worldwide and employs over 50,000 people....
made a £1.7bn takeover of the business, while a competing bid worth £1.8bn was made the following month by Umbrellastream, a Candover
Candover
Candover Investments plc is a British-based private equity firm, specialising in arranging and leading large buyouts and buyins. Candover Investments is structured as an investment trust...
-led consortium also comprising Goldman Sachs and Alpinvest. An improved bid from Halliburton was then rejected by the Expro board, a position backed by the High Court
High Court of Justice
The High Court of Justice is, together with the Court of Appeal and the Crown Court, one of the Senior Courts of England and Wales...
after an appeal lodged by a group of activist shareholder
Activist shareholder
An activist shareholder uses an equity stake in a corporation to put public pressure on its management. The goals of activist shareholders range from financial to non-financial...
s. The acquisition of Expro by Umbrellastream was completed on 1 July 2008.
Structure
The business is organised into two geographic areas:- Eastern hemisphere - Europe / CIS, West Africa, Middle East / North Africa and Asia
- Western hemisphere - North America – Land, North America – Offshore and Latin America