Helix Acquires STL

Thursday, May 30, 2019

Houston-based services company Helix Energy Solutions Group, Inc. announced Thursday it has acquired a majority stake in Subsea Technologies Group Limited (STL), an Aberdeen-based subsea engineering company that specializes in the design and manufacture of world-class subsea pressure control equipment, including well intervention, well control and subsea control systems. Terms of the acquisition were not disclosed.

Scotty Sparks, Executive Vice President and Chief Operating Officer of Helix, said, “This acquisition provides Helix with a significant opportunity to offer in-house engineering services, product development and systems engineering, whilst also enabling us to accelerate the development of new well intervention technologies and provide an enhanced product and service offering.”

Drummond Lawson, co-founder and Chief Executive Officer of STL, added, “Joining Helix represents opportunities for company growth and to strengthen our capabilities, products and service offerings. STL will continue to provide industry leading service to our clients, and we look forward to engaging existing and new clients alike in those opportunities.”

Going forward STL will operate from Helix’s offices in Aberdeen, and Lawson, along with Chief Technical Officer Dave McKay, will continue in their current roles.

Categories: Equipment Mergers & Acquisitions Engineering Subsea Industry News Well Operations Workover Hardware

Related Stories

A Boost for Africa’s P&A Market

Crown Estate Readies for Offshore Wind Auction

Oil at Six-week High

UK Launches 32nd Offshore Licensing Round

2019 Project Sanctions to Surpass 2014 Numbers

FPSO Liza Destiny Sets Sail for Guyana

McDermott, COOEC Win EPCI 'Mega-Project'

Storm Slashes US Gulf Oil Output 59%

North Sea Capital Making Inroads

Hibernia Production Halted after Oil Spill

Current News

SGRE Bags Largest U.S. OWP Order

Crown Estate Readies for Offshore Wind Auction

Vaalco Exits Angola

Solstad CSV Wins Contract Extension

ASCO Ships Lay Cable for Absheron Gas

Petrobras Picks Trident in Oilfield Re-bid

FPSO Liza Destiny Sets Sail for Guyana

Hibernia Production Halted after Oil Spill

3D Inversion Helps Tackle Complex Reservoirs

Schlumberger Names New CEO, Tops Revenue

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week