Cal Dive Acquires U.K.-Based Reservoir and Well Technology Service Company

Cal Dive International has acquired Helix Energy Limited, an Aberdeen based provider of reservoir and well technology services to the upstream oil and gas industry with offices in London, Kuala Lumpur (Malaysia) and Perth (Australia) for US $31 million.

Helix Energy, which operates as Helix RDS around the world, has 180 highly skilled employees. It offers clients a full range of multidisciplinary specialist consultancy services encompassing geoscience, reservoir and petroleum engineering, production technology and well/drilling operations. The company has built a reputation and track record for consistent delivery of value to clients through which it has established a strong brand presence in the market place.

Owen Kratz, Cal Dive's Chairman and Chief Executive Officer, stated, "With the addition to our capacity in this service line, we are able to bring even greater value to our clients both as a service contractor and as a value adding development and production partner. This acquisition will aid in our ability to establish our production contracting model in the North Sea and elsewhere."

Phil Moore, Helix Energy's Managing Director said, "We are very excited about this development which will form the basis for the next significant stage in our growth. As part of the Cal Dive Group, our ability to leverage our expertise to create value in partnership with both existing and new clients is significantly enhanced."

Cal Dive International, Inc., headquartered in Houston, Texas, is an energy service company which provides alternate solutions to the oil and gas industry worldwide for marginal field development, alternative development plans, field life extension and abandonment, with service lines including marine diving services, robotics, well operations, facilities ownership and oil and gas production.