Helix Energy Solutions Group has divested Helix Alliance, its Gulf of Mexico-focused shallow water abandonment unit, to C-Dive for $107.5m in cash.
C-Dive is part of the Chouest Group, which operates globally across energy services, specialised engineering, shipbuilding, subsea services and advanced technology manufacturing.
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The sale of the shallow water abandonment division comes after Helix entered into a definitive agreement with Hornbeck Offshore Services to combine operations and focus resources on deep-water activities.
It aligns with Helix’s strategy to prioritise deep-water well intervention, decommissioning, subsea robotics and associated offshore services.
Helix executive vice-president and chief operating officer Scotty Sparks said: “This transaction sharpens Helix’s focus on deep-water well intervention and decommissioning, robotics and other offshore services as part of our larger global strategy.
“We are pleased with our accomplishments since acquiring the Shallow Water Abandonment business, as we achieved record financial performance, made improvements in processes and systems, and emphasised safety culture.
“We believe the Chouest Group will serve as a strategic owner well positioned to capitalise on this positive momentum and continue the long-term growth of that business.”
The Shallow Water Abandonment segment has delivered services for upstream and midstream clients on the Gulf of Mexico shelf.
These services include commercial diving, engineered solutions, heavy lift tasks, intervention, maintenance, offshore oilfield decommissioning, project management, reclamation and repair.
Helix’s broader operations include a fleet of vessels supporting the complete life cycle of offshore and coastal energy infrastructure, including construction, maintenance, production optimisation and decommissioning.
Its lift boats are designed for shallow waters up to 200ft, suited for the decommissioning of platforms and removal of smaller structures.
The company’s offshore supply and crew boats range in size and capability, providing logistical support, cargo transport and personnel movement across offshore energy production sites in the Gulf of Mexico.
Helix and Hornbeck signed an all-stock merger agreement in late April to establish a key integrated offshore services company.
The combined business will unite Helix’s well intervention and subsea robotics expertise with Hornbeck’s fleet of specialised offshore support vessels. This aligns their core capabilities to broaden and better integrate service offerings for the offshore sector.
