Burckhardt Compression exercises a call option to acquire Arkos Field Services
Burckhardt Compression North America Services LLC, an indirect subsidiary of Burckhardt Compression, has exercised its first call option to purchase an additional 20% interest in Arkos Group LLC, which owns Arkos Field Services, LP.
With this step, Burckhardt Compression North America is raising its total interest in the company to 60%. All of the company’s 16 sites will remain in operation.
In December 2015, Burckhardt Compression North America Services acquired a 40% interest in Arkos Group. The company is a specialist for gas compressor services and components. Its headquarters are in Waller, Texas and it operates 15 service centers across the US. After acquiring this initial interest in the company, Burckhardt Compression, through other subsidiaries, combined its operating sites in the US with those of Arkos Field Services. All of the current 16 sites will remain in operation, as geographic proximity to the customer is so important in Arkos’ core business: the upstream market. The upstream sector of the gas industry is engaged in the exploration and production of natural gas.
The call option to acquire an additional 20% stake was part of the original limited liability company agreement of Arkos Group and the transfer of the additional 20% stake will be completed at a future date once all of the legal formalities have been completed. Burckhardt Compression North America Services has another call option to potentially acquire the remaining 40% at a future date.
Best Practices in Supporting Front Line HPI Operations Remotely in Response to Covid-19
To ensure employee safety, HPI companies had to quickly pivot to a remote support model with many subject matter experts (SMEs) and engineering staff working remotely supporting front line, sequestered critical operations and field operators.
What are the best practices and lessons learned from this new remote operational support model? What have been technologies and work processes that are enabling effective and efficient remote operational support? Is this the “new norm” going forward even when the impact of Covid-19 abates? If not, how will remote support of critical operations be changed?
If this topic and questions are of interest to you and your organization, please attend this special HPI webinar with a panel of leading industry customer experts who will discuss their perspectives. Attendees will have the opportunity to ask questions for the panelists.
May 18, 2020 10:00 AM CDT