Marine Link
Friday, March 29, 2024
SUBSCRIBE

Owen Kratz News

01 Jun 2023

Helix Energy Solutions Wins Major Offshore Decommissioning Deal in U.S. Gulf of Mexico

U.S.-based offshore service firm Helix Energy Solutions has secured a 39-well decommissioning contract in the U.S. Gulf of Mexico shelf with an unnamed client. The project, awarded to Helix's Louisiana-based subsidiary Helix Alliance, is expected to start in mid-2023.The scope of work includes the plug and abandonment of 39 wells, 15 pipelines, and seven structures.

05 Jul 2022

Gulf of Mexico: Helix Energy Solutions Buys Alliance Group of Companies

One Alliance's liftboats - Credit: Alliance Offshore

U.S. based offshore well services company Helix Energy Solutions Group has finalized the previously announced acquisition of the Alliance group of companies, bolstering its decommissioning footprint in the Gulf of Mexico.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management, engineered solutions, intervention…

17 May 2022

Helix Energy Solutions to Buy Alliance Companies to Boost Presence in Gulf of Mexico Decommissioning Space

One Alliance's liftboats - Credit; Alliance Offshore

U.S.-based offshore oil and gas services firm  Helix Energy Solutions Group is set to buy equity interests of Louisiana-baed Alliance group of companies for $120 million cash at closing, plus the potential for post-closing earnout consideration.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management…

09 Mar 2021

Gulf of Mexico: HWCG, Helix Extend Fast Oil Spill Response Agreement

Helix 4000 - Public Domain Image

Helix Energy Solutions Group has entered into a new agreement for offshore oil spill response resources with HWCG, a consortium of deepwater oil and gas companies in the Gulf of Mexico who have come together with the shared goal of quickly responding to offshore oil spills.Under the agreement, HWCG’s members are given the opportunity to identify the Helix Fast Response System as a response resource in permit applications to U.S. federal and state agencies, and to deploy the Helix Fast Response System to respond to a well control incident in the U.S. Gulf of Mexico.

24 Jul 2017

Helix Energy Cuts Q2 Loss

Oil service company Helix Energy Solutions has narrowed its loss in the second quarter of 2017 backed by increased activity of its well intervention business. Mainly North Sea operations helped narrow the firm’s losses. The group, which controls Aberdeen based Helix Well Ops and Canyon Offshore, reported a net loss of $22.9million for the first six months of the year, compared to $38.5million in the same period last year. It reported a net loss of $6.4 million for the second quarter of 2017 compared to a net loss of $10.7 million for the same period in 2016. Owen Kratz, President and Chief Executive Officer of Helix, stated, "Our second quarter results benefited from a strong quarter for our well intervention business in the North Sea and the Gulf of Mexico.

11 Aug 2014

OneSubsea, Helix and Schlumberger to Form Alliance

OneSubsea™, a Cameron and Schlumberger company, Helix Energy Solutions Group, Inc. and Schlumberger today announced that they have entered into a letter of intent to form an alliance to develop technologies and deliver services to optimize the cost and efficiency of subsea well intervention systems. Helix is a leading subsea well intervention provider, with the largest fleet size of well intervention vessels, and an unequalled track record in cost-effective subsea well intervention. OneSubsea, a preeminent solution provider for subsea well control, with a global footprint of executed major projects, has significant experience in the manufacture and supply of subsea well intervention equipment and services.

13 Nov 2012

Helix Updates Offshore Fleet Backlog

'Seawell': Image credit Helix

Helix Energy Solutions Group announce a number of contractual commitments for its well intervention fleet of vessels. The Helix 534 was acquired in August from Transocean and is undergoing modifications and upgrades necessary for conversion into a well intervention vessel at the Jurong Shipyard in Singapore. It is scheduled to sail from Singapore during the first quarter of 2013 and after transit to the Gulf of Mexico, is expected to be placed into service in late second quarter 2013. Backlog for the Helix 534 involves work in the Gulf of Mexico and extends into 2016.

17 Oct 2012

Helix to Sell Three Pipelay Vessels

Pipelayer Caesar: Photo credit COSCO Shipyard

Helix Energy Solutions Group to sell pipelay vessels, 'Caesar, Express', 'Intrepid' & related equipment in separate transactions for a total $252,750,000. On October 15, 2012, Helix entered into an agreement to sell the Caesar, Express and related equipment to Coastal Trade Limited for a total of $238,250,000. The sale of these assets is expected to close in two stages as each vessel completes its existing contractual backlog. The Express closing is expected to occur in February 2013 and the Caesar closing is expected to occur in July 2013.

05 Dec 2001

Cal Dive Agrees to Acquire Robotics Company

Cal Dive International, Inc. announced that it has agreed to acquire 85 percent of Canyon Offshore, Inc., a supplier of remotely operated vehicles (ROVs) and robotics to the offshore construction and telecommunications industries. Cal Dive would purchase the remaining 15 percent at a price to be determined by Canyon's performance during the years 2002 through 2004. The purchase price from $66 million $74 million is four to five times expected Canyon EBITDA. Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, chairman and chief executive officer of Cal Dive, said, "Acquiring Canyon will be a vertical integration which flows from the CDI policy of directly controlling all aspects on the critical path of significant projects. John S.

04 Dec 2001

El Paso, Cal Dive Will Construct Anadarko's Marco Polo Deepwater Discovery

El Paso Energy Partners, L.P. and Cal Dive International, Inc. announced that they have signed a letter of intent to form a 50-50 venture to construct, install, and own a deepwater production hub platform and associated facilities primarily for Anadarko Petroleum Corporation's Marco Polo field discovery at Green Canyon 608 in the Gulf of Mexico. The companies anticipate that the facilities will be completed and online in 2004. The production hub platform will be installed in 4,300 ft. of water and has been designed to process 100,000 barrels of oil per day and 250 million cubic ft. of natural gas per day. barrels of oil per day and 150 million cubic ft. of gas per day. discoveries.

10 Dec 2001

Cal Dive International Buys Canyon Offshore

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. 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.