Helix Energy acquires Alliance, expanding its GoM decom presence

July 8, 2022

Helix Energy Solutions Group Inc. has completed the acquisition of all of the equity interests of the Alliance group of companies.

The Helix Producer I is the Gulf of Mexico’s first ship-shaped, disconnectable, dynamically positioned (DP2), floating production unit. It is designed to serve smaller oil fields in deepwater over the life of the facility and can also be utilized as an early production test vessel.

Offshore staff

HOUSTON — Helix Energy Solutions Group Inc. has completed the acquisition of all of the equity interests of the Alliance group of companies, expanding its decommissioning presence in the Gulf of Mexico (GoM) shelf and advancing Helix’s ESG initiatives by responsibly supporting end-of-life requirements of oil and gas projects, according to a July 5 Helix news release

Owen Kratz, President and Chief Executive Officer of Helix, stated, “We are pleased to have completed our acquisition and added Alliance to the Helix family, which complements Helix’s existing deepwater abandonment offerings by adding shelf and facility abandonment capabilities and significantly enhances our position as a full-field abandonment services provider. The acquisition marks a meaningful step in our participation in the energy transition."

Helix also announced July 5 that, in conjunction with its acquisition of Alliance, it has amended its existing asset-based revolving credit facility (ABL Facility). The amendment aligns with Helix’s Alliance acquisition, expanding the eligible credit line and establishing a link in its pricing to sustainability targets. The key features of the amendment include an

Increase of the size of the ABL Facility to $100 million; and
Inclusion of ESG/sustainability-linked performance targets that may result in adjustments to commitment and borrowing rates.

07.08.2022