en.Wedoany.com Reported - Helix Energy Solutions Group has sold its shallow water abandonment division, Helix Alliance, which focuses on the Gulf of Mexico, to C-Dive for $107.5 million in cash. C-Dive is part of the Chouest Group, which is engaged globally in energy services, engineering, shipbuilding, subsea services, and advanced technology manufacturing.
Previously, Helix had entered into an all-stock merger agreement with Hornbeck Offshore Services to concentrate resources on deepwater activities. This move aligns with its strategy to prioritize deepwater well intervention, decommissioning, subsea robotics, and related offshore services.
Scotty Sparks, Helix's Executive Vice President and Chief Operating Officer, stated: "This transaction allows Helix to sharpen its focus on deepwater well intervention and decommissioning, robotics technology, and other offshore services as part of our global strategy." He also said: "Since acquiring the shallow water abandonment business, we are pleased with the achievements made, having delivered record financial results, improved processes and systems, and emphasized a safety culture." He expressed confidence that the Chouest Group will be a strategic owner, driving the long-term growth of the business.
The shallow water abandonment division has long provided services to upstream and midstream customers on the Gulf of Mexico shelf, covering commercial diving, engineered solutions, heavy lifting, intervention and maintenance, offshore field decommissioning, project management, remediation, and repair. Helix's fleet supports the full lifecycle of offshore energy infrastructure. Its liftboats are specifically designed for shallow water depths of up to 200 feet, used for platform decommissioning and small structure removal; its supply vessels and crew boats provide logistics, cargo transport, and personnel deployment for offshore energy bases in the Gulf of Mexico.
Helix and Hornbeck signed an all-stock merger agreement at the end of April, aiming to create an integrated offshore services company. Post-merger, Helix's well intervention and subsea robotics capabilities will be combined with Hornbeck's specialized support vessel fleet, integrating and expanding services to the offshore industry.
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