Helix Energy Solutions Group Inc. has entered into a contract for its newbuild semi-submersible well intervention vessel, the Q7000.
The vessel will be performing subsea workover and integrated well intervention services with a major client offshore Nigeria, an estimated minimum 80-day campaign. Helix continues to mobilize the vessel from the shipyard in Singapore, and the project is scheduled to begin in early January 2020.
“We are very pleased to announce our first contract for the Q7000. The contract represents the result of years of work to bring our new vessel to market, and we look forward to the opportunities that our expansion into the riser-based well intervention market in West Africa will provide, as we continue to strengthen our presence globally,” Owen Kratz, president and CEO of Helix, said.
The company also said it expects to generate substantial free cash flow in 2018, allowing it to initiate a dividend in the first-quarter of 2019.
Ace Gathering Holdings LLC said March 6 it has completed its acquisition of Recoil Energy Systems LLC, a provider of crude oil reclamation services.
Companies at SPE ATCE will be highlighting new products and services.