Cal Dive International says it has sold its U.S. Gulf of Mexico shallow water surface diving fleet to a privately held company for cash of US$18.5-million and a 19.9% minority interest in the entity acquiring the assets. Cal Dive explains that the assets sold are comprised of eight surface diving vessels and miscellaneous inventory and equipment and it anticipates recording a gain during the second quarter as a result of the transaction. Net proceeds from the sale were used to repay a portion of the Cal Dive’s revolving credit facility. The Company also entered into a multi-year alliance agreement with the buyer under which the buyer will have the exclusive right to provide any surface diving services required by Cal Dive in the U.S. Gulf of Mexico to support pipelay, decommissioning, platform installation and other integrated services. This transaction is part of the Company’s strategic plan to divest non-core assets, strengthen the balance sheet and pursue opportunities that enhance shareholder value. Quinn Hébert, Chairman, President and Chief Executive Officer of Cal Dive, stated, “This transaction is part of our ongoing efforts to concentrate our financial and other resources on key strategic initiatives. These include our U.S. Gulf of Mexico saturation diving, pipelay and decommissioning and salvage operations and our construction and diving services in key international markets such as Mexico, Australia, Southeast Asia and the North Sea
Cal Dive International, Inc. announced that it has completed project financing to fund its share of the cost to construct production facilities at the Marco Polo and Gunnison Deepwater fields. Deepwater Gateway LLC, a joint venture owned by El Paso Energy Partners, L.P. and Cal Dive, has secured a $155 million commitment to fund 70 percent of the estimated total cost of the Marco Polo tension leg platform (TLP). As a 50% owner of Deepwater Gateway
Houston-based Cal Dive International established another Gulf of Mexico first when it installed a reeled flowline/riser combination for Kerr-McGee in East High Island block A-379 in 350 ft. of water. Cal Dive utilized its newly established Pipe Spool Base at their Morgan City, Louisiana operational headquarters to: weld, x-ray, sand blast and coat 14,000 ft. of 4.5 in. 337 wall pipe with fusion bonded epoxy. The pipe was reeled directly onto an 28.2 ft
Horizon Offshore, Inc. has entered into a letter of intent with Cal Dive International, Inc. (CDI) to conduct reeled pipelay projects in deepwater areas of the U.S. Gulf of Mexico. The two companies will jointly fund construction of pipelay equipment to be used in conjunction with CDI's dynamically positioned (DP) vessel, the Sea Sorceress, currently undergoing conversion. In addition, Horizon will construct a pipe spooling facility at its Port Arthur, Texas, shore base
Cal Dive International has acquired 85 percent of outstanding Canyon Offshore shares, with the remaining 15 percent to be acquired over the next three years. The acquisition, which is subject to the customary Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, Chairman and Chief Executive Officer of Cal Dive, stated, "As marine construction support in the Gulf of Mexico moves to deeper and deeper waters, ROV systems will play an increasingly important role."
Cape Wind selects construction joint venture team to build first US offshore windfarm Cape Wind has selected the joint venture team of Flatiron Construction Corp., Cal Dive International, Inc., and Cashman Equipment Corp. as its construction contractor to build America’s first offshore wind farm in Nantucket Sound. Cape Wind President Jim Gordon said, “We are confident this is the right team with the best skills and capabilities to successfully build Cape Wind and create
Helix Energy Solutions Group, Inc. has executed a letter of intent with Allseas Marine Contractors S.A. for the installation of the subsea infrastructure in connection with Allseas' engineering, procurement, installation and construction of Reliance Industries Ltd.'s Dhirubhai gas field development project in the Krishna Godavari Basin in the Bay of Bengal. Helix plans to use its deepwater construction vessel Express and its dive support vessel Eclipse on this project
MODEC International LLC has entered into a letter of intent with El Paso Energy Partners, L.P. for the engineering, procurement and construction of the hull, mooring and production riser system for the world’s deepest tension leg platform (TLP). The TLP is expected to be owned by EPN and Cal Dive International, Inc. and is planned to serve as a production hub at Green Canyon 608 in the Gulf of Mexico initially for Anadarko Petroleum Corporation’s Marco Polo field discovery
As part of its continuing global growth strategy, subsea installation contractor Bibby Offshore has announced the opening of a new division and international base in Houston. The company, that also has bases in Aberdeen, Liverpool, Singapore and Trinidad, has initially invested over £3million into the new division, Bibby Subsea Inc. As part of the expansion plan, Andrew Duncan will relocate to Houston, from his existing position of business and commercial director at the
Houston-based Cal Dive International, Inc. generated a loss for the fourth quarter 2013 of $0.5 million, or $0.01 per diluted share, which compared with a loss in the fourth quarter of the previous year of $19.1 million, or $0.21 per diluted share. Commenting on the results, Cal Dive’s Chairman, President and Chief Executive Officer, Quinn Hébert, stated: “As expected the fourth quarter was our best quarter of the year due to the ramp up in offshore work in Mexico
Underwater thickness gauge enables divers to monitor conditions of sunken submarine A team of divers from the A7 Project have measured the metal thickness of the sunken HMS A7 submarine using a Cygnus DIVE underwater ultrasonic thickness gauge
Tauber Oil Company of Houston has become the West Calcasieu Port’s newest tenant. “Tauber Oil is a service-oriented wholesale energy marketing company with a reputation for reliable performance and untarnished character,” said Lynn Hohensee, port director
N-Sea has launched its third diving support vessel, the Edradour, representing a $2.2 million investment for the company to be immediately utilized in its inspection, maintenance and repair (IMR) operations in the North Sea, as well as in Holland and Germany.
The dive inspection on behalf of the salvors will continue today on the cargo ship Lysblink Seaways that ran aground Wednesday near Ardnamurchan Point in the west Highlands, and is now anchored close to the location of the grounding, the U.K. Maritime and Coastguard Agency (MCA) reported.
Technip signed today an agreement to sell 100% of its North American diving assets to Ranger Offshore Inc.(1). Technip’s strategy focuses on high technology and ultra-deep water products and services. Proceeds from this divestment will be partially reinvested directly into
Inspection, maintenance and repair (IMR) specialist N-Sea has recently completed its inaugural diving scope with the TUP Diving System (Transfer Under Pressure). The diving scope involved x-mas tree assistance with the deployment of the TUP Diving System for client ONE (Oranje-Nassau Energie)
Crowley Maritime Corporation last week presented four California Maritime Academy (Cal Maritime) students with Thomas B. Crowley Sr. Memorial scholarships during Containerization and Intermodal Institute’s Connie Awards dinner in Long Beach, Calif
Gibbs & Cox, Inc., an independent naval architecture and marine engineering firm, announced the appointment of Patrick J. Keenan as Vice President, Platform Solutions Group. In this role, Keenan will have responsibility for leadership and management of the company's government and commercial
The ship's bell recovered from the recently discovered Franklin Expedition shipwreck, HMS Erebus, was unveiled by the Honorable Leona Aglukkaq, Minister of the Environment and Minister responsible for Parks Canada. The artifact was recovered during dives and archaeological investigation by
Capt. Gregg Baumann assumed command from Capt. Mark Matthews as the Director of Ocean Engineering, Supervisor of Salvage and Diving (SUPSALV), Naval Sea Systems Command announced. Baumann reports to SUPSALV after serving as program manager for the International Fleet Support Program
Low solar and wind power supply expectations on Monday boosted European prompt power prices with demand supported by a gradual turn towards colder weather. Point Carbon forecasts showed German solar supply on Tuesday likely to come in at 0.9 gigawatt (GW), down from 1.9 GW on Monday
SBM Offshore has entered into an agreement to sell the DSCV SBM Installer, a Diving Support and Construction Vessel (DSCV), to OS Installer AS for US$150 million in cash. OS Installer AS is a newly established joint venture between Ocean Yield ASA (75%) and SBM Offshore (25%)
Coast Guard search-and-rescue crews are searching for a missing diver five nautical miles south of Key West, Florida, Saturday afternoon. Missing is Jim Bakazan, 50, wearing a black wet suit. Watchstanders at Coast Guard Sector Key West received the report from the motor vessel
An eight-member team from Mobile Diving and Salvage Unit (MDSU) 1 onboard USS Fort Worth (LCS 3) is supporting the ongoing Indonesian-led search effort for AirAsia flight QZ8501 with advanced Tow Fish side scan sonar systems capable of providing high-resolution images of the ocean floor.
Inspection, maintenance and repair (IMR) specialist N-Sea has extended its charter agreement with Siem Offshore following three years of operations. The renewed agreement, concerning Siem Offshore’s offshore subsea construction vessel, Siem N-Sea (previously Siem Stork)