WOOD Group has bought a US firm that provides construction services for oil and gas producers working in US shale areas as the crude price sank to an 11 year low.
The Aberdeen-based oil services giant has acquired Ohio-based Kelchner Inc for an undisclosed sum.
Brent crude futures fell by around two per cent, to $36.05 per barrel, in morning trading as the rise in global supplies ran well ahead of demand. This is the lowest level recorded since July 2004.
Wood Group has cut around 1,000 jobs in the North Sea since June amid the crude price plunge.
Earlier this month Wood Group bought a Texas-based refining specialist, The Infinity Group, for up to around £130m.
In September it bought the Bedfordshire-based Automated Technology Group for an undiclosed sum to help it move into new markets such as car manufacturing.
Kelchner generated around $93m sales in 2014, when Wood had total revenues of $7.6bn.
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