COMPANY NEWS PB acquires underground energy specialistJan 2013
Parsons Brinckerhoff News Release
Global engineering and infrastructure consultant Parsons Brinckerhoff has strengthened its energy division with the acquisition of underground storage specialist Subsurface Group.
Houston based Subsurface, which also has offices in Louisiana and Indiana, is a professional consulting and engineering firm providing services in underground injection, underground storage and speciality wells for the petrochemical industry. Last year (2012) it had revenues of US$50 million and 37 employees.
The strategic acquisition, announced at the beginning of this month, will see Subsurface join PB's Energy Storage Services in the US Power and Energy Division.
Subsurface specializes in the permitting, design, installation, maintenance and closure of all types of specialty wells. The underground storage of natural gas and other products in leached salt domes and bedded salts is widespread in the geographic regions where Subsurface operates: the Gulf Coast and Midwest. The services it offers include the carrying out of feasibility studies, permit applications, mechanical integrity testing, well maintenance and repair, corrosion studies, and special diagnostic testing. Additionally its extensive underground waste disposal experience is currently being applied to pursue opportunities related to the disposal of waste in abandoned storage caverns.
PB strengthens underground storage division
"We are pleased to have Subsurface Group as part of Parsons Brinckerhoff," said George J. Pierson, PB Group President and CEO. "Its recognized expertise in underground injection and speciality wells complements our recognized expertise in underground storage for oil and gas, energy and industrial clients."
John Fleniken, Vice President and co-owner of Subsurface Group, said: "The complementary skill sets of both groups will combine to provide a unique and robust full service offering to our clients in the oil and gas, chemical and industrial markets.
In a letter to all employees of both companies, Pierson explained: "The addition of Subsurface Group as a new part of our US Power and Energy Division aligns with our strategic goal of expanding the services we can provide to the energy market."
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