DivestmentMay 5, 2026, 06:08 AM
Helix Energy Solutions Sells Shallow Water Business for $107.5M
AI Summary
Helix Energy Solutions Group, Inc. announced the sale of its Gulf of America-focused Shallow Water Abandonment business to C-Dive, L.L.C. for $107.5 million in cash. This divestiture, which closed on May 1, 2026, is part of Helix's strategy to focus on deepwater operations and aligns with its previously announced definitive agreement to combine with Hornbeck Offshore Services, Inc.
Key Highlights
- Helix Energy Solutions sold its Shallow Water Abandonment business.
- The business was sold to C-Dive, L.L.C., a Chouest group member.
- Cash consideration for the sale was $107.5 million.
- The transaction was signed and closed on May 1, 2026.
- Divestiture supports Helix's strategic focus on deepwater operations.
- Aligns with the previously announced merger with Hornbeck Offshore Services.