ROV Industry Dives With Deep Offshore Spending Cuts

by Matthew Braga (Bloomberg) Until recently, oil and gas kept robots moving in more ways than one. Fossil fuel companies looking to speed up exploration, drilling, construction, and maintenance work turned to heavy-duty underwater drones known as remotely operated vehicles, or ROVs, to keep their wells afloat. By last year the global market for ROV operations—mostly contract … [Read more...]

Oceaneering International Taps BAE Systems for New Jones Act Subsea Support Vessel

Houston-based oilfield provider Oceaneering International (NYSE:OII) has commissioned the construction of a Jones Act-qualified subsea support vessel at BAE Systems' Mobile, Alabama shipyard. The vessel will be built to Marin Teknikk of Norway’s popular MT6022 design, with an overall length of 353 feet, a Class 2 dynamic positioning system, accommodations for 110 … [Read more...]

Newly Streamlined Helix ESG Looks Like a Ripe Deep Water Takeover Play

Helix Energy Solutions Group Inc. is turning into a takeover target after streamlining the company to focus on its expanding operations for offshore oil-well support. The Houston-based company agreed last month to sell its oil-and-gas unit and earlier exited a pipe-laying business, helping Helix reduce debt and center its operations on deepwater vessels and robotics for … [Read more...]

Oceaneering International Secures Cade Candies in Five Year Deal

Oceaneering International, Inc. (NYSE:OII) announced today that it has entered into a five-year charter for use of the Cade Candies, a multi-service subsea support vessel owned by Otto Candies LLC. The charter is expected to commence during the second quarter of 2013. This state-of-the-art, U.S. flagged vessel was built in 2010. It has an overall length of approximately 309 … [Read more...]