Helix to Acquire Privately Held Alliance for $120 Million

In addition to a focus on well intervention and robotics operations, Helix is pursuing an energy transition business model, which CEO Owen Kratz says the expanded decommissioning presence from the Alliance acquisition furthers.

Hart Energy Staff
Helix to Acquire Privately Held Alliance for $120 Million

Alliance, a Louisiana-based privately held company,  provides services in support of the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning. (Source: Shutterstock.com)

Helix Energy Solutions Group Inc. agreed on May 17 to acquire Alliance in the Gulf of Mexico for $120 million cash at closing, plus the potential for post-closing earnout consideration.

Alliance, a Louisiana-based privately held company,  provides services in support of the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management, engineered solutions, intervention, maintenance, repair, heavy lift and commercial diving services.

“Based on a number of market and regulatory drivers and our current expectations, we fully believe that the offshore oil and gas decommissioning market will grow significantly in the near term,” Owen Kratz, Helix’s president and CEO, commented in a company release.

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