Dover Corp. DOV, +0.73% said Tuesday it was exploring strategic alternatives to separate its upstream energy businesses within its energy unit, which are collectively known as its Wellsite business. The alternatives include a potential spinoff, sale or a strategic combination. In 2017, the Wellsite business, which includes Dover Artificial Lift, Dover Energy Automation and U.S. Synthetic, is expected to record revenue of $1 billion and a profit of $250 million. The diversified manufacturing company said it expects to complete the assessment of alternatives by the end of the year. “Today’s announcement continues our strategy of streamlining our portfolio to focus and invest in our core platforms of market-leading businesses competing in attractive industrial markets that offer lower volatility and strong growth prospects,” said Chief Executive Robert Livingston. The stock, which was inactive in premarket trade, has rallied 6.1% over the past three months, while the S&P 500 SPX, +1.08% has gained 2.4%.