Cal Dive International Buys Canyon Offshore

Monday, December 10, 2001
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." John S. Edwards, CEO of Canyon, said, "CDI was our first customer when Canyon began operations in early 1997 and we are extremely excited to be joining the CDI group of companies and expect to be a major contributor to their continuing success. Joining the CDI group of companies greatly expands Canyons ability to further develop our global capabilities; provides access to capital, a large fleet of dynamically positioned vessels and access to considerable project management resources. Canyon's successful international submarine cable burial business also provides a baseline for the expanded groups international operations and revenue diversification." Canyon will function as an independent operating company, continuing to provide ROV, intervention and cable / flowline burial services to all our customers. Canyon offers a wide range of subsea services to the oil and gas industry, including ROV Services for construction, drilling support, survey, engineering, repair and maintenance.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Damen Delivers Custom-Made Offshore Winches to Fugro

Damen Maaskant Shipyards, part of Damen Shipyards Group, has delivered two dedicated offshore winches to Fugro. The Dutch shipyard was responsible for the design,

Shell: UK Should Reduce North Sea Oil Tax

The British government should review a supplementary tax charge on North Sea oil producers as it has made the operation of some fields unrealistic, Shell Chief

Shell Eyes Arctic Drilling this Summer

Oil major Shell wants to revive its Arctic oil drilling programme this year after a near two-year suspension, angering environmentalists who say the risk of an oil spill is too high.

Education/Training

Australian Tall Ship Rounds Cape Horn

The Royal Australian Navy operated Sail Training Ship Young Endeavour rounded Cape Horn on Australia Day, 36 days into a 12-month circumnavigation of the world.

Cutlass Express 2015 Commences

Maritime forces from East Africa, South Africa, Europe, Indian Ocean nations, the United States and several international organizations began the fourth iteration

Crowley Awards Scholarships to SUNY Maritime Students

Crowley Maritime Corporation’s 2014 Thomas B. Crowley Sr. Memorial Scholarships have helped to further educational opportunities for three students of State University

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1223 sec (8 req/sec)