Cal Dive Announces Acquisition of U.K. Based Reservoir and Well Technology Service Company
08 Noviembre 2005 - 6:00AM
PR Newswire (US)
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. DATASOURCE: Cal Dive
International, Inc. CONTACT: Wade Pursell, Chief Financial Officer
of Cal Dive International, Inc., +1-281-618-0400, or fax,
+1-281-618-0505 Web site: http://www.caldive.com/
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