Helix sells Deepwater Gateway

Offshore staff

HOUSTON Helix Energy Solutions Group Inc. says it will sell its 50% interest in Deepwater Gateway, LLC to a subsidiary of Genesis Energy, L.P. for a cash purchase price of $25 million.

Deepwater Gateway owns the Marco Polo platform in the Gulf of Mexico.

Anthony Tripodo, executive vice president and CFO 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.”

The MODEC-built Marco Polo tension leg platform is installed in 1,311m (4,300 ft) of water. It serves as the production platform at Green Canyon 608 for Anadarko Petroleum Corp.’s Marco Polo field, which came onstream in 2005.

02/18/2016

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