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.
Norwegian offshore shipping company Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of the subsea construction vessel (SCV) Olympic Athene and Canyon’s ROV systems. Under the agreement the companies will work together to secure utilization for the vessel and ROV systems and services with third party clients. The framework agreement will operate initially for six months
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
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
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.
The 50 years since the grounding of the tanker Torrey Canyon in 1967 have seen dramatic and sustained reduction in major oil spills from ships, thanks to cooperation between Governments and industry. The story of how that incident served as a catalyst for positive change is told in a new
The 50 years since the grounding of the tanker Torrey Canyon in 1967 have seen dramatic and sustained reduction in major oil spills from ships, thanks to cooperation between Governments and industry, says International Maritime Organization (IMO)
BHP Billiton has announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico. BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field.
TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is
The first deep-sea exploration of the Perth Canyon, Australia's largest undersea valley, will launch today, Phys.org is reporting. The 12-day expedition is backed by Google billionaire Eric Schmidt and will study the conditions and marine life inside the canyon
Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1
Statoil has made an oil discovery in its Miocene Yeti prospect located in the Gulf of Mexico (GoM), the company announced today. “The Yeti discovery expands the proven sub-salt Miocene play further south and west of the Big Foot field,” said Jez Averty
Technip was awarded by BP Exploration & Production Inc. a lump sum project for the design, engineering, fabrication, installation and pre-commissioning of the new production pipeline systems on the south side of the Thunder Horse production drilling quarters unit
The first true three-dimensional picture of submarine canyon habitats has been produced using a combination of marine robotics and ship-based measurements. The information captured in this new set of maps ranges in scale from the 200km canyon down to the size of an individual cold-water
The National Oceanographic Partnership Program (NOPP) will present the 2015 Excellence in Partnering Award to 17 organizations involved in the Atlantic Canyons study during Ocean Sciences 2016 in New Orleans. The ceremony will take place on Tuesday, February 23, from 1:00 - 2:30 p.m
Last summer, researchers began a five year study to monitor biodiversity in the Arctic Chukchi Sea from an ecosystem perspective, looking at microbes, whales and everything in between. Marine biodiversity is a key indicator of ocean health and critical ecosystem services that contribute to human
1912 - The scout cruisers USS Chester (CL 1) and USS Salem (CL 3) sail from Massachusetts to assist RMS Titanic survivors, and escort RMS Carpathia, which carried the survivors of the Titanic, to New York. 1914 - USS New York (BB 34) is commissioned.
TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon
International participants at a high-level conference on the world's oceans pledged more than $5.3 billion for conservation and designated vast areas as protected waters, U.S. Secretary of State John Kerry said on Friday. More than 90 countries took part in the two-day conference
The International Group is collaborating with the International Maritime Organization (IMO), International Oil Pollution Compensation Fund (IOPC) Funds and other industry organisations to produce an exhibition at the IMO to mark the achievements of the international community over the past 50