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
Mitsubishi Makes Investment in MidOcean Energy LNG
2024-04-02 - MidOcean said Mitsubishi’s investment will help push a competitive long-term LNG growth platform for the company.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Mexico Pacific Appoints New CEO Bairstow
2024-04-15 - Sarah Bairstow joined Mexico Pacific Ltd. in 2019 and is assuming the CEO role following Ivan Van der Walt’s resignation.
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
TotalEnergies Eyes Suriname FID by Year-end 2024
2024-04-29 - France’s TotalEnergies and U.S. partner APA Corp. look to place their long lead orders ahead of a final investment decision related to their joint development offshore Suriname in Block 58.