Seacor Continues Rational Fleet Expansion
Seacor — through an unprecedented string of strategic and financially sound acquisitions — has emerged as one of the world's premier operators of a fleet of vessels that provide marine services to the oil and gas exploration and production industry, and oil spill response services in the U.S. Gulf of Mexico, North Sea, offshore West Africa, the Far East and Latin America. For the fiscal year ended December 31, 2000, the company announced net earnings of $11.1 million on revenues of $88.3 million. For the 12 months ended December 31, 2000, net earnings were $34.1 million on revenues of $339.9 million. The improvement in the fourth quarter…
SEACOR To Acquire Gilbert Cheramie Boats, Inc.
SEACOR SMIT Inc. signed a definitive agreement to acquire Gilbert Cheramie Boats, Inc. and related companies. The transaction contemplates purchase consideration of approximately $61 million to be paid in cash for all shares of voting and non-voting stock of the companies. No long-term debt will be assumed by SEACOR in the transaction, and the purchase consideration is subject to certain adjustments. The transaction, which is subject to customary closing conditions, is expected to close in March 2001. The companies are based in Golden Meadow, Louisiana, and their fleet is dedicated to serving the oil and gas industry in the Gulf of Mexico.
Feature: Family Tradition
About a year ago MarineNews debuted an article on the "First Families" of the oil patch featuring the Graham, Chouest and Candies families. We continue this series with two real pioneers in this industry whose partnership is still going strong after 57 years. Albert Cheramie and Anthony Guilbeau were among the very first to recognize that when oil and gas exploration moved offshore there would be a need for boats to supply the rigs. In 1947, Cheramie began by running a vessel for Humble Oil to Block 16A barely in the Gulf of Mexico off Grand Isle, La. By 1951 both Cheramie and Guilbeau were working offshore themselves as roughnecks for Texaco. "After five years with Texaco, it didn't seem like I was going to advance very far with only a 7th grade education," Cheramie said.
