Helix Energy Solutions announced the sale of its shallow-water well abandonment business in the Gulf of America to C-Dive, a Chouest Group company, for $107.5 million in cash. The transaction was signed and closed on May 1 and is part of the company’s strategic reorganization to focus on deepwater offshore operations.
The divestment comes shortly after the definitive agreement announced between Helix and Hornbeck Offshore Services to create a company with greater maritime and subsea capabilities. The future integration aims to expand the specialized fleet of offshore vessels and strengthen services related to subsea robotics, well intervention, and subsea technical solutions.
Helix Energy Solutions acelera su enfoque offshore deepwater
With this sale, Helix aims to strengthen its presence in the deepwater segment, considered one of the most active markets within the offshore industry. The company explained that the new structure will allow it to offer integrated shipping and subsea operations solutions to clients in the energy, defense, and renewable energy sectors.
Scotty Sparks, Helix’s executive vice president and chief operating officer, said the deal enhances the company’s strategic focus on specialized offshore services.
Sparks noted that this transaction sharpens Helix’s focus on deepwater well intervention and decommissioning, robotics and other offshore services as part of our broader global strategy.
I also want to highlight that the business sold recorded record financial results since its acquisition and made progress in operational and industrial safety improvements.
Chouest expands its presence in offshore services
The acquisition will allow the Chouest Group to strengthen its presence in well abandonment and decommissioning activities in the shallow waters of the Gulf of America. The transaction incorporates established operational capabilities and a service base with experience in offshore projects.
Helix believes that Chouest has the necessary strategic image to continue developing the business in the long term within a market where the retirement of mature infrastructure continues to gain relevance.
A strategy linked to the energy transition
The Houston-based company maintains a strategy focused on offshore services related to the global energy transition. Its activities include maximizing production from existing oil and gas fields, supporting offshore decommissioning projects, and participating in renewable energy developments.
The future combination with Hornbeck seeks to position Helix as a stronger player within the specialized maritime market, especially in complex underwater operations and offshore technical support.
Source: Investors.helixesg
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