John Wood eyes unit sale

ENERGY services firm John Wood Group yesterday said it was looking into the possible sale of its well support unit, which helps energy companies improve production rates and recovery from oil and gas wells.

Sources said the company had put the division on the block and had hired Credit Suisse to advise on the sale.

“In response to recent media speculation, Wood Group confirms that it is evaluating the possible sale of the Well Support division. These discussions may or may not lead to a transaction,” the company said.