Announced
Completed
Financials
Sources
Tags
United States
plug & abandonment
Environmental / Waste Management
Acquisition
Single Bidder
Domestic
Majority
Private
Completed
Friendly
Synopsis
Helix Energy Solutions, a offshore energy services company, completed the acquisition of plugging & abandonment business from Quarternorth Energy, a offshore energy company. Financial terms were not disclosed. The P&A business provides decommissioning of oil and gas assets at the end of their economic life in the GoM shelf. The company opted to carve out the P&A business following a strategic review in which it determined positioning QNE as a pure-play deepwater upstream operator would best align with its goals.
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