T-Rex Goes Deep!
Completes Acquisition and Creation of New Company
This article can be seen in the following News Websites:The Houston Chronicle
http://www.chron.com/disp/story.mpl/business/energy/6403902.html
Offshore Magazine
http://www.offshore-mag.com/display_article/360872/9/ONART/none/COMPN/1/Texas-ReExcavation-acquires-GSPE-Engineering/
Energy Current
http://www.energycurrent.com/index.php?id=2&storyid=17792
Subsea World
http://subseaworld.com/company/t-rex-completes-acquisition-and-creation-of-new-company-02987.html
Oil & Gas Investor
http://www.oilandgasinvestor.com/Headlines/2009/WebMay/item37690.php
HOUSTON—April 30, 2009– The founders of Texas ReExcavation, LC, a Houston-based oilfield services company, proudly announce the acquisition of GSPE Engineering, Inc. and the formation of T-Rex Engineering & Construction, LC (T-Rex E&C). The new company will focus on the construction of offshore oil & gas equipment including build-to-specification Pipeline End Terminals and Manifolds (PLETs / PLEMs), Umbilical Termination Assembly (UTA) frames, Pig Launchers, Process Piping, In-line Sleds (ILS), Manifolds, Jumpers, Spreader Bars and other related equipment. Gary A. Sidwell, PE, SECB, founder of GSPE Engineering, Inc. (GSPE), has been named President of the new group.
GSPE started operations in 1986 servicing the offshore oil & gas industry analyzing and designing jackups, drilling packages, deep-water platforms and decks, and semi-submersibles. In the early 1990s, GSPE analyzed and designed deck modules for Shell’s TLPs and later developed subsea structures for Shell, BP and other offshore operators. Notable subsea projects include all PLETs for the Nakika, Llano, Princess and Perdido fields.
With its new ability to offer engineering and design services, T-Rex E&C can work with other offshore and subsea engineering firms with a clear understanding of both the purpose and function of the structures they have developed. “Basically, we speak their language and we believe we are unmatched in our ability to provide engineering services as an independent fabrication company. This integration gives T-Rex E&C the means to take on a project at any stage, ensuring a smooth transition for our clients and resulting in fewer change orders and lower costs,” said Sidwell.
“We welcome GSPE into the T-Rex family as this dynamic new team brings a wealth of deepwater engineering experience to our fabrication and construction division. The combined team now has extensive experience in design, analysis, and fabrication utilizing the latest technology,” said Bobby Hillin Jr., CEO of TRex Companies. “T-Rex E&C offers a wide range of services, from the detailed FEA analysis of machined parts to global analysis and design of offshore structures in the Gulf of Mexico and beyond,” added Sidwell.
Hillin, a former NASCAR Driver and winner of the Talladega 500, is using skills he learned in professional motorsports to build T-Rex into a winning organization. “The components for success are very similar: Safety, Quality and Teamwork are just three tenets that we use to challenge each other on a daily basis,” stated Hillin.
About T-Rex Companies:
T-Rex Companies, founded in 2001, provides services in the fields of municipal utility construction, structural design, engineering and fabrication, non-destructive vacuum excavation, and subsurface utility engineering. Revenues for 2009 are expected to reach $9MM. The company employs 70 people and is headquartered in Houston, Texas. For more information, please visit trexec.com.
Media Relations Contact:
Tim Thompson- 713-783-3363
Tim.thompson@trexec.com
