HOUSTON – Wood Group, a Texas-based energy services company, says it has purchased Sunstone Projects Ltd. of Calgary for $14.5 million.
Sunstone, a pipeline consulting company in the Canadian oil and gas industry, employs about 70 people and generated sales of approximately $21 million in 2013.
Sunstone will be rebranded as Wood Group Mustang and will continue to operate within its Canadian operations under the existing management team.
“The Canadian pipeline system is expected to expand to ensure access to markets for oil and gas produced in Western Canada,” said Wood Group Mustang president Steve Knowles.
“Sunstone’s capability and geographic presence are complementary to Wood Group Mustang’s existing pipeline business.”
Wood Group operates in 50 countries, employs about 46,000 people and generates about $7 billion in sales.