Helix sells Deepwater Gateway

  • Business & Finance

Helix Energy Solutions Group, an international offshore energy services company, has sold its 50% interest in Deepwater Gateway, L.L.C. to a subsidiary of Genesis Energy for a cash purchase price of $25 million.

Anthony Tripodo, Executive Vice President and Chief Financial Officer of Helix, stated, “The sale of the Deepwater Gateway interest is in line with Helix’s strategy of focusing on its core businesses, well intervention and robotics.”

Deepwater Gateway, L.L.C. is the owner of the Marco Polo platform. Deepwater Gateway was formed in June 2002 as a 50/50 venture between GulfTerra and Cal Dive.

The Marco Polo tension leg platform (TLP) was installed in 4,300 feet of water in Green Canyon Block 608, in the U.S. Gulf of Mexico, in 2004. It serves as the production hub platform at Anadarko’s Marco Polo field.

The Marco Polo TLP consists of two primary segments, namely the hull and the deck. The platform has a displacement of 27,500 tons; a hull weight of 5,750 tons; and a payload of 14,000 tons.

Offshore Energy Today Staff

Related news

List of related news articles