Cal Dive Closes First Phase of Asset Purchase with Stolt Offshore

Cal Dive International has closed a transaction to purchase the diving assets of Stolt Offshore that presently operate in the Gulf of Mexico. The assets include: seven diving support vessels, a portable saturation diving system, various general diving equipment and Louisiana operating bases at the Port of Iberia and Fourchon.

The separate purchases of the DB801 and Kestrel will be closed when those assets complete their present work campaigns in Trinidadian waters. The total transaction value for all of the assets will be approximately $123 million.