Helix Energy Solutions to acquire Alliance for $120m.

Helix Energy Solutions, an offshore energy services company, agreed to acquire Alliance group of companies, a company that provides services in support of the upstream and midstream ‎industries in the Gulf of Mexico shelf, for $120m. “Based on a number of market and regulatory drivers and our current expectations, we fully believe that the offshore oil and gas decommissioning market will grow significantly in the near term. This acquisition complements Helix’s present deepwater abandonment offerings by adding shelf and facility abandonment capabilities, and significantly enhances our position as a full-field abandonment services provider, both in the Gulf of Mexico and globally. We also see possibilities to expand our opportunities within our existing late-life production business. We are thrilled at the prospect of adding Alliance to the Helix family, and we believe this acquisition is a meaningful step in Helix’s responsible participation in this age of Energy Transition,”Owen Kratz, Helix President and CEO.