Helix Energy Solutions Group
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| Public company | |
| Traded as | : HLX S&P 600 Company |
| Industry | Oil and Gas Equipment, Services |
| Founded | 1980 (as Cal Dive Intl.) |
| Headquarters | Houston, Texas, United States |
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Key people
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Owen Kratz, President and CEO |
| Products | Well Intervention Operations Remotely Operated Vehicle Operations Oil Exploration and Production Offshore Production Facilities |
| Revenue |
 $1.39 BillionUSD (2011) |
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$669 MillionUSD (2011) |
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$130 MillionUSD (2011) |
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Number of employees
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1,600 (2012) |
| Website | www |
Helix Energy Solutions Inc., known as Cal Dive International prior to 2006, is an American oil and gas services company headquartered in Houston, Texas. It is a global provider of offshore services in well intervention and ROV operations of new and existing oil and gas fields.
1980 – Oceaneering executives, Lad Handleman, John Swinden, Don Sites and Rick Foreman left the company and named their new company Cal Dive International. Oceaneering was formed in 1964 when Handelman merged his California oilfield diving company, Cal Dive, with Canadian-based Can-Dive and upon his departure Handleman reclaimed his original company name for the new venture.
1983 – Cal Dive Intl. was acquired by Diversified Energy International (DEI) whose financial backing allowed the company to expand with two converted diving vessels.
1985 –Handleman suffered a severe injury in a skiing accident and as a result was paralyzed from the waist down. Jim Nelson would take over the company and Handleman served as a consultant with the company for five more years.
1990 – Led by new CEO Jerry Reuhl, a management team that included future-CEO Owen Kratz, purchased Cal Dive Intl. from DEI for $11 million with Merrill Lynch acting as the financial partner, providing all of the holding a 45% equity position.
1992 – After establishing a business model of acquiring offshore oil and gas properties near the end of their production life in the Gulf of Mexico, Cal Dive Intl. created a subsidiary called Energy Resource Technology (ERT) to manage its growing portfolio of Gulf shelf properties.
1993 Cal Dive Intl. management bought Merrill Lynch out in 1993, and then sold 50% of the company to First Reserve Corporation in 1995, to raise more capital to support a growing deepwater program.
1994 – Cal Dive Intl. acquires its first Dynamically Positioned vessel, the Witch Queen which allowed the company to enter the deepwater market in the Gulf of Mexico for the first time.
1996 – Cal Dive Intl. acquires the Uncle John semi-submersible drilling rig and extends the company’s well intervention capabilities. Cal Dive Intl. also purchased offshore energy company Aquaitica Inc. which was the company’s first corporate acquisition and added four shallow water diving support vessels to its fleet.
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Wikipedia