OFS - Helix’s Q7000 newbuild vessel to be deployed to West Africa - September 2019Helix Energy Solutions Group, Inc. announced its first contract for the Q7000 newbuild semisubmersible well intervention vessel in August. The vessel will perform subsea workover and integrated well intervention services with a major Helix client offshore Nigeria in a campaign that is estimated to take a minimum of 80 days. The company will mobilize the vessel from the Jurong shipyard in Singapore so that it can be in place when the project is expected to begin right after the new year....
Sep 17, 2019
OFS - People & Companies - May 14, 2019Calfrac Well Services Ltd. has
announced the appointment of Fernando
Aguilar, Kevin Baker, James Blair,
Gregory Fletcher, Lorne Gartner, Ronald
Mathison and Douglas Ramsay as directors. CSI Compressco LP has
appointed Brady Murphy as chairman
of the board, effective May 3. He
succeeds Stuart Brightman, who is
retiring. Elijio Serrano was also appointed
to the board of directors of the general
partner. Serrano is currently the CFO
of Tetra and of CSI Compressco. Essential...
May 14, 2019
Helix Energy sells $125MM in convertible debtHelix Energy Solutions Group, Inc. priced $125 million principal amount of 4.125% Convertible Senior Notes due 2023 on March 13 through a syndicate led by Wells Fargo and Merrill Lynch. The company said it would realize about $121.2 million in net proceeds, which it will use to repurchase all of its currently outstanding $60.115 million principal amount of 3.25% Convertible Senior Notes due 2032 and to pay down a portion of a term loan, which was $97.5 million outstanding. Helix had notified...
Mar 28, 2018
Helix Energy Solutions sells $125MM in convertible debtHelix Energy Solutions Group, Inc priced $125 million principal amount of 4.125% convertible senior notes due 2023 on March 13 through a syndicate led by Wells Fargo and Merrill Lynch. The company said it would realize about $121.2 million in net proceeds, which it will use to repurchase all of its currently outstanding $60.115 million principal amount of 3.25% convertible senior notes due 2032 and to pay down a portion of a term loan, which was $97.5 million outstanding.Helix had...
Mar 26, 2018
People & Companies - November 08, 2017Anadarko Petroleum named Danny Brown US onshore operations EVP after he served as international and deepwater EVP. Mitch Ingram has been appointed international and deepwater operations EVP after serving as global LNG EVP. And in a third appointment, Anadarko named Ernie Leyendecker, former international and deepwater exploration EVP, as exploration EVP.Delek US Holdings Inc. and Delek Logistics Partners LP announced that Melissa Buhrig joined the companies as EVP, general counsel and...
Nov 08, 2017
Alliance develops riserless abandonment systemSubsea Services Alliance (SSA), a collaboration between Helix Energy Solutions Group Inc. and Schlumberger Ltd., announced the launch of the first Riserless Open-water Abandonment Module (ROAM).As subsea fields reach the end of their productive lives, an increasing number of wells will need to be plugged and abandoned (P&A), especially in the Gulf of Mexico and the North Sea, regions that contain some of the industry’s oldest wells. Whether the reason is due to the economics of...
Oct 05, 2016
Financial Takes - October 01, 2014Patterson-UTI (PTEN; $32.88–Sept 19; Buy; PT: $46)We spoke with management regarding the announced acquisition of 143.25K HHP of fracturing equipment from a privately-held company based in Texas for an undisclosed amount. Based on our conversation, we believe that PTEN is continuing to demonstrate an aggressive view on fleet expansion that will position it to take advantage of what we see as a NAM onshore cycle still in the early stages of growth. Sand logistics constraints and...
Oct 01, 2014
Most deepwater stocks continue to reboundOur group of 13 stocks with deepwater exposure clawed back another $12 billion of market capitalization since the last issue. In contrast to the last issue, performance was far from uniform. The big winner since the last issue was Cobalt International (up 21%)-- not because of exploration success, but that it was able to sublet the $520,000 a day Ensco 8503 semisubmersible (see story page 10). The stock is up 34% since November 1 and only 4% below its pre-macondo level. Halliburton and Cameron...
Dec 10, 2010
Helix enters stock sale agreement with Cal DiveHelix Energy Solutions Group, Inc. has entered a stock repurchase agreement with sub Cal Dive International in which it will sell to Cal Dive 13,564,669 shares of Cal Dive's common stock for $86 million or $6.34 per share. Helix will use the proceeds for general corporate purposes.
Owen Kratz, Helix's President and CEO, commented that, "We believe that this is another step in our previously announced strategy of unlocking the asset value in the company by divesting of assets outside of our...
Jan 25, 2009
CM - News Briefs - April 3, 2020Houston’s Helix Energy Solutions Group, Inc. amended an existing credit agreement with Nordea Bank that dates back to 2014. It involves the Q5000 vessel, and the amendment extends the final maturity date of the term loan made under the credit agreement to Jan. 31, 2021 from April 30, 2020. EVP and CFO Erik Staffeldt said the extended maturity aligns with its expected cash flow to be generated during H2. Ranger Energy Services, Inc. received a non-binding offer from CSL Capital...
Apr 03, 2020
OFS - Project Briefs - October 24,2018Preferred Proppants has started commercial operations at its Oakwood facility, one of the first frac sand mines to open targeting the SCOOP/STACK plays. The facility, which will produce 40/70 and 100 mesh sand, is near the Dewey and Blaine county line and within five miles of two active rigs and within 75 miles of most major activity in the region. Waste Management Energy Services of Texas, a subsidiary of Houston-based Waste Management, held a grand opening for its new Permian Basin...
Oct 24, 2018
People Briefs - June 21, 2017Baraka Energy & Resources announced the resignation of John Greeve as joint company secretary, leaving Timothy Clark as the sole secretary. Clark is also a non-executive director and joint company secretary of JV Global Ltd.Scott Brownlaw is resigning from his roles as executive director and CEO of ASX-listed East West Energy. Mitchell McGeorge, currently executive chairman, will replace him.Eni reappointed Claudio Descalzi as CEO and Andrea Gemma, Pietro Guindani, Karina...
Jun 21, 2017
People & Company Briefs - February 01, 2012•Archer CEO Jorgen Rasmussen will be replaced on an acting basis by vice chairman Fredrik Halvorson.
•Baker Hughes president Martin Craighead will take over as CEO, replacing Chad Deaton, who will remain chairman of the company. Deaton was CEO for seven years, while Craighead has been with BHI since 1986.
•Blake International Rigs promoted VP of business development and administration Beau Blake to President and CEO for the U.S. and Mexico.
•Blueknight Energy Partners...
Feb 01, 2012
People Briefs - January 25, 2012• Altronic LLC retained Jerrod Waldron as a technical services engineer.• Amcol International appointed Patrick Carpenter president of its environmental segment. Carpenter has been with Amcol for 20 years including management roles in its building materials and lining technologies segments.• Baker Hughes president Martin Craighead will take over as CEO, replacing Chad Deaton who will remain chairman of the company. Deaton was CEO for seven years while Craighead has been with BHI...
Jan 25, 2012
People Briefs - August 04, 2008Kohlberg Kravis Roberts & Co. (KKR) appointed John E. Bryson, retired chairman and CEO of Edison International, as a Senior Advisor to the firm. He brings more than 30 years of experience as both an industry leader and regulator to KKR's initiative to invest in global infrastructure opportunities.
Henry R. Kravis and George R. Roberts, co-founding members of KKR, said, "We are delighted to welcome John as a senior advisor to KKR's infrastructure team. His many years of experience building...
Aug 04, 2008