Helix Energy Solutions Group Inc. bought a majority stake in Subsea Technologies Group Ltd. (STL), which Houston-based Helix said May 30 will give it the ability to provide in-house engineering services.
STL is an Aberdeen-based subsea engineering company that specializes in the design and manufacture of subsea pressure control equipment, including well intervention, well control and subsea control systems. The terms of the acquisition were not disclosed.
“This acquisition provides Helix with a significant opportunity to offer in-house engineering services, product development and systems engineering, whilst also enabling us to accelerate the development of new well intervention technologies and provide an enhanced product and service offering,” Scotty Sparks, executive vice president and COO of Helix said in a statement on May 30.
Going forward, STL will operate from Helix’s offices in Aberdeen. The company’s co-founder and CEO, Drummond Lawson, along with Chief Technical Officer Dave McKay, will also continue in their current roles.
Lawson said in a statement: “We are excited about the acquisition, as joining Helix represents opportunities for company growth and to strengthen our capabilities, products and service offerings. STL will continue to provide industry-leading service to our clients, and we look forward to engaging existing and new clients alike in those opportunities.”
Recommended Reading
Kimmeridge’s Mark Viviano on Reshaping the Energy Sector, SilverBow-Crescent Deal
2024-05-16 - Kimmeridge Energy Engagement Partners’ Mark Viviano says the company is evaluating the Crescent Energy and SilverBow Acquisition and how Kimmeridge played a key role in transforming the shale sector in this Hart Energy Exclusive interview.
SUPER DUG Shale 4.0 Era about Building Scale- Rystad
2024-05-16 - The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
Adkins: Attacks on Fossil Fuels, Overregulation Poised to Backfire
2024-05-17 - Raymond James’ J. Marshall Adkins tells Hart Energy’s Super DUG conference attendees demonizing oil and gas, strenuous regulations and continued inflation are bound to have unexpected consequences for E&P opponents.
How Diversified Already Surpassed its 2030 Emissions Goals
2024-04-12 - Through Diversified Energy’s “aggressive” voluntary leak detection and repair program, the company has already hit its 2030 emission goal and is en route to 2040 targets, the company says.
BKV CEO Chris Kalnin says ‘Forgotten’ Barnett Ripe for Refracs
2024-04-02 - The Barnett Shale is “ripe for fracs” and offers opportunities to boost natural gas production to historic levels, BKV Corp. CEO and Founder Chris Kalnin said at the DUG GAS+ Conference and Expo.