Wood buys deepwater specialist

Oilfield services company John Wood Group has bought Baker Energy, the energy services business of US company Michael Baker Corporation.Wood Group is paying $37.9m in cash for Baker Energy, which provides a spectrum of operations and maintenance services to numerous oil and gas operators.Revenues at Baker Energy in 2008 totalled $243.5m.The company, which employs 2,400 people, will be integrated into Wood Group’s Engineering & Production Facilities division.The acquisition ‘will establish Wood Group as the market leader in the provision of operations and maintenance services in the US Gulf of Mexico market, and enhance our ability to support clients' deepwater activity, one of the most exciting growth markets in our industry,’ said Les Thomas, the director responsible for the group’s production facilities activities.