With a shift of strategic focus towards deepwater operations, Helix Energy Solutions Group, Inc will be selling its Gulf of America-focused shallow water abandonment business to C-Dive, LLC, a member of the Chouest group of companies.
The sale involved Helix's divestment of its entire equity interests in the shallow water abandonment segment for US$107.5mn cash at closing, to be adjusted for working capital and other transaction expenses.
This comes after Helix entered a definitive agreement with Hornbeck Offshore Services, Inc to expand its services in offshore operations through a diversified high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities.
The sale of the shallow water abandonment business will allow Helix to heighten focus on the partnership with Hornbeck, providing innovative and integrated subsea and marine transportation solutions to customers across deepwater energy, defense and renewables.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, said, “This transaction sharpens Helix’s focus on deepwater well intervention and decommissioning, robotics and other offshore services as part of our larger global strategy. We are pleased with our accomplishments since acquiring the shallow water abandonment business, as we achieved record financial performance, made improvements in processes and systems, and emphasised safety culture. We believe the Chouest Group will serve as a strategic owner well positioned to capitalise on this positive momentum and continue the long-term growth of that business.”
Ensuring end-to-end services for clients, Helix Energy Solutions and Hornbeck Offshore Services have announced a strategic combination across multiple sectors including deepwater energy.
The strategic combination will create a scaled, life-of-field business offering engineered solutions in offshore oil and gas, among other sectors. The consolidation results to a diversified and expanded high-specification fleet of specialty vessels, supported by subsea robotics, well intervention and technical service capabilities, including trenching subsea pipelines and cables. Clients can expect innovative and integrated subsea and marine transportation solutions across deepwater energy, defense and renewables. The multi-faceted service portfolio will span the entire life-cycle of deepwater fields, bringing together Helix's intervention and decommissioning expertise, and the predominance of Hornbeck's high specification offshore service vessels in the Americas.
As both the partners have entered into a definitive agreement to combine in an all-stock transaction, once effective, it will secure approximately 55% for Hornbeck shareholders while around 45% for Helix shareholders.
"In merging two proven industry leaders with industry-leading teams, assets and offerings, this transaction creates a global deepwater vessel and services company with the scale and capabilities to deliver sustainable, long-term growth," said Owen Kratz, President and Chief Executive Officer of Helix. "This combination is a compelling opportunity to enhance value for Helix’s shareholders, building on our momentum as one of the world’s premier marine service contractors."
"We are confident that by capitalizing on each company’s unique expertise, we will unlock meaningful strategic and operational benefits that enhance our ability to serve customers worldwide and drive significant shareholder value creation," said Todd M Hornbeck, Chairman, President and Chief Executive Officer of Hornbeck. "The combined company will be a growth-oriented company driven by the desire to provide innovative, high-quality, value-added business solutions with an emphasis on safety and an entrepreneurial culture."
In a boost to rig activity in the US Gulf, Harbour Energy's subsidiary, LLOG Exploration Company LLC, has extended contracts with Seadrill Limited, adding approximately US$260mn to the drilling contractor's contract backlog.
The year-long contract extension secures ultra-deepwater drillship West Neptune's services for operations that are set to start in September 2026. On the other hand, the West Vela ultra-deepwater drillship will be operating for an additional duration of 270 days, which is likely to commence in August 2026.
“We are pleased to extend our working relationship with LLOG, building on more than a decade of productive collaboration and shared success. The strong operational performance delivered by the West Vela and West Neptune teams continues to help us win follow-on work,” said Seadrill's President and Chief Executive Officer, Samir Ali.
“Securing this backlog enhances revenue visibility and supports free cash flow generation as we navigate near-term softness in the US Gulf. The West Vela and West Neptune are positioned favourably for availability in 2027 as global floater utilisation is expected to improve,” he said.
This follows the last contract extension between Seadrill and LLOG Exploration for a four-month programme in the US Gulf, which secured approximately US$48mn to Seadrill’s backlog.
The Sevan Louisiana had also received a contract award in the US Gulf from an undisclosed operator for a two-month programme. This engagement is set to start directly after its current contract with Walter Oil and Gas. The campaign will mark the first use of the Trendsetter well-intervention equipment in the region.
As digitalisation continues to shape every sector of the offshore industry, decommissioning cannot remain out of its influence. A US$7.2bn market that is projected to see solid growth over the next four years is reflective of the sector's urgency which operators can no longer overlook. The liabilities of decommissioning can be best addressed by choosing the digital path, which will play a significant role in supporting operators by reducing both costs and downtime, even when ensuring safety and keeping project delivery sustainable.
Operators can rely on digitalisation right from the start, whereby they can use an accurate digital model of the targeted platform to determine loopholes that require addressing. This digital model will highlight the extent of damages operators are looking at, from corrosion to storm impact, to name a few, before they formulate the next steps.
Tackling gigantic topsides and jackets can be prone to incorrect cuts when attempted manually. To eliminate such risks, there are digital solutions that generate optimal cutting plan to dismantle structures of several tons into portable numbers. Before beginning the project in person, the virtual run-through will give an idea of user-defined elevations or check the forces that goes behind the sections.
When these huge platforms have to be moved, they have to pass uncertain conditions, including vessel stability, crane capacity and harsh environments. These challenges can be minimised by deploying an integrated software approach which combines structural analysis with hyrodynamic and hydrostatic analysis.
Analysis softwares can also support operators to plan sustainable outcomes of decommissioning, such as the rigs-to-reef programmes. These tools can help gauge whether the structure's final deployment is proper and safe for a lasting period.
CB&I has completed the acquisition of Petrofac’s Asset Solutions business, which is actively engaged on various decommissioning and abandonment (D&A) assignments in the Gulf of America.
A leading provider of operations, maintenance, wells and decommissioning services for onshore and offshore energy assets, with projects across the globe, the Asset Solutions’ portfolio includes work to decommission the South Pass 60, South Pass 6 and East Breaks 165 fields.
Announcing the closure of the transaction on 9 April, 2026, Mark Butts, CB&I President and CEO, said it marked “an exciting new era for our company” as it welcomed approximately 3,000 Asset Solutions colleagues to the newly-expanded group.
“This acquisition strengthens CB&I’s portfolio with a complementary reimbursable contracting business, delivering predictable cash flow and enhancing service capabilities,” he said.
“It also supports CB&I’s diversification into integrated services, expands customer relationships, and opens pathways for growth in international markets.”
The acquisition also provides Asset Solutions with access to CB&I’s debt‑free balance sheet and global liquidity, enabling the business to operate from a position of greater financial strength.
John Pearson, Chief Operating Officer of CB&I Asset Solutions, said this enhanced stability ensures continuity of service delivery for customers and creates a solid platform for expanding capabilities across key markets internationally.
“With the backing of CB&I’s financial strength, global reach and operational capabilities, the business is exceptionally well positioned to accelerate our growth ambitions,” said Pearson.
“Asset Solutions is now able to invest with confidence, expand service offerings, enhance the reliability and efficiency of the assets we support, and deliver even greater value to customers around the world.”
In 2022, Petrofac and Promethean Decommissioning Company (PDC) formed an alliance to decommission the South Pass 60, South Pass 6 and East Breaks 165 fields, offshore Gulf of America.
The legacy offshore fields and assets include nine platforms, 200 wells and 32 pipeline segments.
As the nominated Decommissioning Services Provider, in a contract valued at around US$200mn, the scope of work includes the safe, efficient, and assured decommissioning of the fields.
The USA has begun the process to bring closer together the key agencies that regulate offshore oil and gas decommissioning activities in the country.
The Department of the Interior announced on 3rd April the start of a phased plan to establish the Marine Minerals Administration, bringing together the functions of the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE).
“This action is intended to improve coordination and increase efficiencies across offshore leasing, permitting, inspections and environmental oversight, while maintaining all existing regulatory protections and rigorous safety standards,” a Department of the Interior statement announced.
It added that the streamlined approach reflected the evolution of offshore energy development and the need for a more integrated approach to managing conventional and emerging resources, such as critical minerals.BOEM and BSEE are the primary offshore federal regulators for the Outer Continental Shelf (OCS).
Other federal regulators include Federal Energy Regulatory Commission (FERC), Environmental Protection Agency (EPA), Pipeline and Hazardous Materials Safety Administration (PHMSA) and the US Coast Guard (USCG), which is involved in issues related to navigation safety and pollution control during removal operations.
Secretary of the Interior Doug Burgum said the establishment of the new Marine Minerals Administration marks a strategic step toward a more modern, coordinated approach to offshore resource management.
He said the agency will align resource planning, leasing decisions and operational oversight under a unified structure, reducing duplication and improving decision-making across the full lifecycle of offshore development.
“President Trump has been laser focused on making the government work efficiently and effectively for the American people. This is about building an agency that reflects where we are today and where we need to go,” said Burgum.
“The Department is applying what we’ve learned over the past decade to deliver clearer coordination, better service to the public and stronger, more integrated oversight of offshore energy development.”
Decom Engineering has secured a US patent for its proprietary Chopsaw technology, helping to protect the company’s position as a leading subsea cutting solutions provider.
The patent covers both mechanical and operational features, including the linear drive cutting system, modular drive arrangement and adaptable clamping methodology.
The linear-drive cutting head is the central mechanic for the Chowsaw technology, where it feeds the blade directly into the structure being cut. Unlike traditional Chopsaws, which rely on pivoting or rotational movement, Decom’s system uses a controlled linear movement to guide the blade through the material, improving control, precision and consistency.
By managing how the blade engages with the material, the technology addresses one of the main weaknesses of traditional Chopsaw solutions.
The patent also covers adaptable clamping arrangements, enabling a single saw to cut a wide variety of materials, diameters and structures to make the technology adaptable across a broad range of applications, from small umbilicals to large mooring chains.
Nick McNally, Managing Director of Decom Engineering, said, “Our aim has always been to develop cutting technology that is robust, adaptable and capable of performing in the most challenging environments. The patent is important for safeguarding our leading position in the cutting market, and reinforces our ability to protect our engineering advantage.
“The US is widely regarded as one of the most rigorous and competitive patent jurisdictions, and approval provides strong validation of the uniqueness and robustness of Decom’s technology. It also ensures the company can protect its intellectual property in a market where we are successfully expanding our operational footprint and securing wider client recognition.”
North America, Europe and Asia Pacific are shaping today's offshore decommissioning market as it is projected to grow at a compound annual growth rate (CAGR) of approximately 6-8% over the next six years.
According to an analysis by experts, growth of the global offshore decommissioning market is inevitable as the oil and gas industry is looking towards an ever-increasing numbers of retiring assets.
“With many offshore oil fields approaching the end of their productive life, companies are focusing on cost-effective and environmentally responsible methods for decommissioning platforms, subsea structures, and pipelines.
“The market’s trajectory underscores the importance of innovation, regulatory compliance, and environmental stewardship in shaping the future of offshore asset retirement,” reads an analysis by Market Research Future.
North America is looking at a chunk of mature offshore assets that are awaiting decommissioning, and the region is trying to keep up with the liabilities by leveraging advanced technologies such as artificial intelligence, Internet of Things and data analytics, among others. The region is spearheading the market, driven by its robust technological ecosystem, early adoption of advanced solutions, and sustained investments in innovation and automation.
While North America still enjoys comparatively stable demand patterns owing to established infrastructure and matured market conditions, its regulatory frameworks are going through a phase of steady evolution to accelerate turnarounds of its decommisssioning liabilities.
Operators are likely looking at cost-effective decommissioning in future with the 'rollback' of supplemental financial assurance rule that has recently been announced by the United States Interior Department.
This, the department officials believe, can be achieved from the ultimate cost optimisation approach that drives the new proposal, which will potentially bring a shift in the Bureau of Ocean Energy Management's evaluation of financial risks.
It will allow BOEM to approve new projects of significant capital investments for companies while securing taxpayers' contribution by leveraging updated risk metrics and data from the Bureau of Safety and Environmental Enforcement.
This development will replace the 2024 rule that mandated companies to set aside as much as US$6.9bn in supplemental financial assurance. About US$6bn of that burden were likely shouldered by small businesses that make up most of the operators on the Outer Continental Shelf.
According to DOI, the proposal will help maintain strong accountability for lessees and grant holders under the Outer Continental Shelf Lands Act but reduces “excessive financial barriers” that can hinder progress.
Saving about US$484mn annually in compliance costs, the move can potentially unlock billions of dollars for investment, exploration, production and employment generation.
“For too long, Washington red tape has strangled American energy producers and held back small businesses,” said Interior Secretary Doug Burgum. “President Trump is delivering on his promise to put American workers first, cut burdensome regulations and unleash our vast energy potential. These updates will free up billions of dollars for exploration and development, create good-paying jobs and unlock domestic energy production so we are never forced to rely on foreign adversaries for the resources that power our economy.”
The DOI said that the Bureau of Ocean Energy Management (BOEM) is acting in response to President Trump’s Executive Order 14154, “Unleashing American Energy.”
The proposed changes will be published in the Federal Register with a 60-day public comment period.
Welcoming the change, the Independent Petroleum Association of America's Executive Vice President and Chief Policy Officer, Dan Naatz, said, “We applaud the Trump Administration for taking steps to roll back the flawed financial assurance rule promulgated during the Biden Administration. Had it been fully implemented, the Biden rule would have disproportionately affected independent offshore oil and gas producers and had them bear most of the associated costs."
Energy technology company, SLB's joint venture, OneSubsea, has signed an agreement to initiate the acquisition of Norway-based Envirex Group AS' subsea business.
The transaction makes Envirex's subsea segment part of SLB OneSubsea, with the former's specialised technologies and research and development expertise adding to the latter's global technology portfolio. This timely launch in a ever-dynamic subsea market will advance the deployment of new technology solutions, providing global clients with a diverse range of innovative services to choose from.
"This agreement represents a natural next step in a collaboration that has developed over more than a decade,” said Mads Hjelmeland, chief executive officer of SLB OneSubsea. “Once completed, the transaction would strengthen our technology portfolio and enhance the value we deliver to our customers."
The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions.
Based in Oslo and Houston, SLB OneSubsea is a joint venture by SLB, Aker Solutions and Subsea7. The joint venture is working to define a new era of subsea services by leveraging technology and innovation for a sustainable offshore industry.
Baker Hughes will supply critical gas compression, power generation equipment, and project development support to ST LNG’s proposed LNG export terminal offshore Texas.
As part of the agreement Baker Hughes will provide two LM6000PF gas turbine-driven centrifugal compressor trains and three NovaLT16 gas turbine generator packages to secure the necessary production capacity for the first phase of the project.
The project is expected to deliver 2.1 million tonnes per annum (MTPA) as part of a planned four-phase development which will provide 8.4MTPA once complete.
ST LNG CEO, Sharad Tak, said, “As we advance toward completion of the project’s first phase, selecting proven technology from a reliable partner with deep domain expertise is essential. Baker Hughes’ extensive experience across LNG projects, including complex offshore environments, provides confidence that the ST LNG facility will achieve first LNG in the second quarter of 2030. Their ability to deliver a comprehensive equipment solution, combined with their commitment to supporting project development, is a key enabler in advancing our deepwater LNG port.”
Baker Hughes’ Chairman and CEO, Lorenzo Simonelli, commented, “Our LNG solutions portfolio is designed to support a wide range of operational requirements, from large-scale onshore facilities to specialized offshore applications such as ST LNG’s. We look forward to working closely with ST LNG to deliver reliable, efficient and lower-carbon solutions.”
The USA’s Department of the Interior is proposing updates to reduce costly regulations on the offshore oil and gas industry, which would effectively reduce the amounts companies need to set aside for future decommissioning.
The proposal follows President Trump's Executive Order 14154 "Unleashing American Energy" which aims to exploit the full potential of the USA's energy resources by getting rid of "burdensome" regulations. It would rescind requirements from a 2024 rule that forced companies to set aside around US$6.9bn in supplemental financial assurance to cover potential costs of decommissioning activities. Around US$6bn of that would have fallen on small businesses, which make up most of the operators on the Outer Continental Shelf. At the time, the rule was challenged by the Republican-led states of Louisiana, Mississippi and Texas and oil and gas industry groups, who argued that it would result in "potentially existential consequences" for small and medium-sized companies.
The change is expected to save industry around US$484mn each year in compliance costs.
“For too long, Washington red tape has strangled American energy producers and held back small businesses,” said Interior Secretary Doug Burgum. “President Trump is delivering on his promise to put American workers first, cut burdensome regulations and unleash our vast energy potential. These updates will free up billions of dollars for exploration and development, create good-paying jobs and unlock domestic energy production so we are never forced to rely on foreign adversaries for the resources that power our economy.”
The proposal would modernise how the Bureau for Ocean Energy Management (BOEM) evaluates financial risks and lower the amounts companies must set aside for future decommissioning. By using updated risk metrics and data from the Bureau of Safety and Environmental Enforcement, BOEM would ensure taxpayer protections remain in place while allowing companies to invest more capital in new projects.
The proposal maintains strong accountability for lessees and grant holders under the Outer Continental Shelf Lands Act, but reduces excessive financial barriers that have slowed growth, according to the BOEM.
The proposed changes will be published in the Federal Register with a 60-day public comment period.
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