Helix Energy Solutions Group has closed the sale of its Caesar pipelay vessel to Trevaskis Ltd. for a total price of approximately US $138 million.
Cash proceeds of $108 million of the total selling price were received at closing. Helix had previously received a $30 million cash deposit for this transaction in October last year. The sale of the company’s remaining pipelay vessel, the Express, is expected to close in July this year, it added.
Owen Kratz, President and CEO of Helix, said that “the sale of the Caesar is another important milestone in our strategy to exit our non-core businesses while remaining focused on enhancing and expanding our core well intervention and robotics businesses”.
Recommended Reading
US Oil, Gas Rig Count Falls to Lowest Since January 2022
2024-05-03 - The oil and gas rig count, an early indicator of future output, fell by eight to 605 in the week to May 3, in the biggest weekly decline since September 2023.
Pemex Reports Lower 2Q Production and Net Income
2024-05-03 - Mexico’s Pemex reported both lower oil and gas production and a 91% drop in net income in first-quarter 2024, but the company also reduced its total debt to $101.5 billion, executives said during an earnings webcast with analysts.
Chouest Acquires ROV Company ROVOP to Expand Subsea Capabilities
2024-05-02 - With the acquisition of ROVOP, Chouest will have a fleet of more than 100 ROVs.
SLB, OneSubsea, Subsea 7 Sign Collaboration Deal with Equinor
2024-05-02 - Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.