Helix Energy sells shallow water unit for $107.5M to sharpen deepwater focus

Helix Energy Solutions Group (NYSE:HLX) announced the divestiture of its Gulf of America-focused Shallow Water Abandonment business to C-Dive, a member of the Chouest group of companies.

The all-cash transaction, which signed and closed on May 1, 2026, resulted in a payment of $107.5 million to Helix at closing, subject to customary adjustments for working capital and transaction expenses.

The sale represents a strategic exit from the shallow water decommissioning sector as Helix pivots its resources toward higher-margin deepwater and subsea services.

C-Dive, as part of the Chouest family of companies, will integrate the equity interests and operational assets of the business into its existing Gulf of Mexico offshore services portfolio.

The divestiture is a key component of Helix’s broader structural transformation.

It follows the company’s recent definitive agreement to combine with Hornbeck Offshore Services (Hornbeck), a move designed to create a premier provider of integrated subsea and marine transportation solutions.