HOUSTON, Nov. 8 /PRNewswire-FirstCall/ -- Cal Dive International, Inc.
(Nasdaq: CDIS) announced today that it 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.
This press release contains forward-looking statements that involve risks,
uncertainties and assumptions that could cause our results to differ
materially from those expressed or implied by such forward-looking statements.
All statements, other than statements of historical fact, are statements that
could be deemed "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including, without limitation, any
projections of revenue, gross margin, expenses, earnings or losses from
operations, or other financial items; any statements of the plans, strategies
and objectives of management for future operations; any statement concerning
developments, performance or industry rankings relating to services; any
statements regarding future economic conditions or performance; any statements
of expectation or belief; and any statements of assumptions underlying any of
the foregoing. The risks, uncertainties and assumptions referred to above
include the performance of contracts by suppliers, customers and partners;
employee management issues; complexities of global political and economic
developments, and other risks described from time to time in our reports filed
with the Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K for the year ending December 31, 2004. We assume no
obligation and do not intend to update these forward-looking statements.
SOURCE Cal Dive International, Inc.
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Related links:
http://www.caldive.com
CONTACT:
Wade Pursell, Chief Financial Officer of Cal
Dive International, Inc., +1-281-618-0400, or fax,
+1-281-618-0505
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