Cal Dive International, Inc. announced that it has agreed to acquire 85 percent of Canyon Offshore, Inc., a supplier of remotely operated vehicles (ROVs) and robotics to the offshore construction and telecommunications industries. Cal Dive would purchase the remaining 15 percent at a price to be determined by Canyon's performance during the years 2002 through 2004. The purchase price from $66 million $74 million is four to five times expected Canyon EBITDA. The acquisition, which is subject to the customary Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, chairman and chief executive officer of Cal Dive, said, "Acquiring Canyon will be a vertical integration which flows from the CDI policy of directly controlling all aspects on the critical path of significant projects. As marine construction support in the Gulf of Mexico moves to deeper and deeper waters, ROV systems will play an increasingly important role." John S. Edwards, chief executive officer of Canyon, stated, "CDI was our first customer when Canyon began operations in early 1997 and we have enjoyed the status of an Alliance Partner ever since. CDI seeks this strategic investment to secure key remote systems capabilities so critical to their future in deepwater construction and well intervention operations. Canyon's submarine cable burial business provides a platform for international operations and revenue diversification
PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25
Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea
A unit of Williams has announced that it has commissioned a new production handling platform in federal waters approximately 60 miles south of Mobile Bay, Ala. Gas production from approximately 35,000 acres of federal leases is dedicated to the platform. Construction of Williams' Canyon Station -- a fixed-leg platform in 300 feet of water in East Main Pass Block 261 -- was completed on schedule at the end of June. The jacket was installed in October 2001
Kvaerner reaches preliminary agreement with Canyon Ranch to build two luxury cruise ships, worth $397 million. Kvaerner, announced that it has signed a Memorandum of Understanding with the health resort company Canyon Ranch, of Tucson, Ariz., to build two luxury spa/health resort cruise ships. The two passenger vessels, each of about, 37,000 gross tons, are to be built by Kvaerner Masa-Yards in Finland, and are due for delivery in 2004 and 2005, respectively.
Gardline Geosciences & Canyon Offshore strategic alliance to provide deep-water seabed drilling service to offshore SI market. Eric Zon, Managing Director of Gardline Geosciences stated ‘this agreement is a perfect synergy to enable Gardline to offer full geotechnical services in the deep water market and to add enhanced operational performance in extreme shallow water-environments. The technology strengthens Gardline Geosciences and its sister company Asian Geos
Houston-based BHP Billiton Petroleum reported two company-operated drilling vessels set new benchmarks for deepwater drilling in the Gulf of Mexico recently. While working on a development well on the Shenzi oil and gas field, the GSF C.R. Luigs achieved a record low average of 1.52 days per 1,000 feet from spud to total depth. The well was drilled to a total depth of about 29,600 feet in only 33 days, while operating in water depths of nearly 4,300 feet in Green Canyon Block 654.
NOAA releases new online views of Earth's ocean floor NOAA has made sea floor maps and other data on the world’s coasts, continental shelves and deep ocean available for easy viewing online. Anyone with Internet access can now explore undersea features and obtain detailed depictions of the sea floor and coasts, including deep canyons, ripples, landslides and likely fish habitat. The new online data viewer compiles sea floor data from the near shore to the deep blue
Naval survey ship 'HMS Enterprise' nets stunning images of a Grand Canyon-style ocean floor hidden deep under the Red Sea. Discovering the 250 metre deep canyon after leaving the Egyptian port of Safaga the ship used her sophisticated EM1002 Multibeam echo sounder to create the 3D images, allowing the ocean floor to be seen for the first time. Commanding Officer of HMS Enterprise, Commander Derek Rae, said: “These features could be the result of ancient rivers scouring through the
BP says it has made a significant oil discovery at its Gila prospect (which it co-owns with ConocoPhillips) in the deepwater US Gulf of Mexico. This is BP’s third discovery in recent years in the emerging Paleogene trend in the Gulf of Mexico and reflects the company’s ongoing commitment to the US offshore region. The Gila discovery was made by an exploration well on Keathley Canyon Block 93, about 300 miles southwest of New Orleans, in approximately 4,900 feet of water.
Helix Energy says that its Robotics subsidiary, Canyon Offshore, Inc., has reached an agreement with a subsidiary of McDermott International, Inc. to provide remotely operated vehicle (ROV) services and equipment for McDermott’s fleet of subsea construction and pipelay support vessels.
Statoil has completed the Martin well in US Gulf of Mexico and the Dilolo well in the Kwanza basin in Angola. US Gulf of Mexico Statoil announces a small discovery in its Martin prospect located in the Gulf of Mexico (GoM). Statoil does not consider this to be a commercial
Technip was awarded by Deep Gulf Energy II LLC a lump sum contract for the development of the Kodiak field, located in Mississippi Canyon Blocks 727 and 771, in the Gulf of Mexico, at water depths ranging from 1,472 meters to 1,710 meters.
SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the Thunder Hawk DeepDraft (TM) Semi located in 6,060 feet of water in the Gulf of Mexico (GoM).
Faced with a challenging decision between draining Apache Lake or trying a unique underwater diving method to repair the damaged intake structure for Horse Mesa Dam’s hydroelectric units, Hydro Generation engineers at Salt River Project chose the latter rather than the former
Offshore Solutions BV (OSBV), the joint venture between AMEC and Cofely Nederland NV, has signed a North Sea contract with Maersk Oil UK to provide marine access support to the floating production, storage and offloading (FPSO) unit Global Producer III.
InterMoor, an Acteon company, has won a contract for design, fabrication and installation of 12 suction pile anchors, preset installation of 12 chain/polyester/chain mooring lines and hook-up of the LLOG Delta House production semi-submersible (the Floating Production System “FPS”)
As part of its continuing global growth strategy, subsea installation contractor Bibby Offshore has announced the opening of a new division and international base in Houston. The company, that also has bases in Aberdeen, Liverpool, Singapore and Trinidad
Secretary of the Interior Sally Jewell has presented the 'Partners in Conservation Awards' to two science teams conducting ocean research sponsored by the Bureau of Ocean Energy Management (BOEM) at a Department of the Interior ceremony. The research involved collaboration with about two-dozen
Inchcape Shipping Services has successfully supported Saipem with a major pipe laying project in the Gulf of Mexico. Providing marine agency and logistics support for Saipem’s newest pipelay vessel Castorone during its first project in the Gulf
Salvage work to remove a capsized drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said. The capsize of Saipem's Perro Negro 6 occurred last summer during efforts to bore a tunnel
Acteon company InterMoor completed decommissioning operations of the Innovator platform in the Gulf of Mexico’s Gomez field, Mississippi Canyon Block 711. Conducted in water depths of 910 meters, the scope of work involved disconnecting 10 risers/umbilicals; disconnecting 12 mooring lines
EMAS, the operating brand of Ezra Holdings, a global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, today announced that it has received a Letter of Agreement (LOA) from Noble Energy for the Gunflint Project in the Gulf of Mexico (GoM).
Today in U.S. Naval History: April 15 1885 - Naval forces land at Panama to protect American interests during revolution 1912 - USS Chester and USS Salem sailed from MA to assist RMS Titanic survivors 1918 - First Marine Aviation Force formed at Marine Flying Field, Miami, Fla.
Salvage work to remove a capsized rig lying in shallow waters offshore from Angola's new liquefied natural gas (LNG) export plant should be completed by March 2015, the company in charge of the operation said. The three-legged Perro Negro 6 drilling rig overturned last summer as it was being