WaPo reported the Obama administration's collaboration with BP on assessing environmental damage from the Deepwater Horizon oil catastrophe. Their article stated:
BP spokeswoman Anne Kolton wrote in an e-mail that the company is working with state and federal officials "conducting joint sampling to gather information about the condition of the environment before the spill and to establish the environmental impacts of the spill and extent of restoration that is required."Entrix experienced sea changes after April 20. It was bought out by an Australian firm, Cardno Limited. Seller Riverside Capital owned 58% of Entrix, while employees owned 42%. The deal was announced June 10, but was effective June 1.
In most cases, BP is represented by employees of Entrix, an environmental consulting firm it contacted within hours of the Deepwater Horizon explosion.
Highlights from Cardno's investor presentation on its acquisition of Entrix and ERI include:
--Entrix and ERI's clients include BP, Chevron, ExxonMobil, ConocoPhillips, TransCanada, PG&E, Dow Chemical, U.S. Army Corps of Engineers, FEMA and the U.S. State Department.Cardno dialed into the sweet spot of BP's oil spew. My questions are:
--Entrix is also regarded as a leader in the assessment of the environmental and economic impact of oil spills and the associated restoration, rehabilitation and monitoring of impacted sites. It has standing response management contracts with the world's leading oil producers.
--ERI is an environmental soil and groundwater remediation firm focused on the petro-chemical market in the U.S.
1. Who is Entrix officially working for?
2. Did Entrix have a response management contract with BP? What did it specify?
3. Does Entrix have an incentive to refer remediation work to ERI, its sister division within Cardno?
On July 1 Cardno announced a trading halt to its stock, due to capital raising. Private equity underwriters (PEU's) fancy Australian companies.
Cardno's vision is to become a World Leader in infrastructure services. Most PEU's have an infrastructure division. They also have billions of capital to invest.
Will any PIPE their way into Cardno? The answer will come soon, as the trading halt is expected to end July 5.