Oceaneering acquires AGR field operations for $230MM

Source: Oceaneering International, Inc. 

Oceaneering International, Inc. (NYSE:OII) announced that its wholly-owned Norwegian subsidiary, Oceaneering AS, has closed the previously- announced definitive agreement to acquire AGR Field Operations (AGR FO). AGR FO is a provider of inspection, maintenance, subsea engineering, and field operations services, principally to the oil and gas industry

The acquisition price was approximately $230 million, including acquired debt, and was funded with cash and debt from Oceaneering’s existing revolving credit facility. 

Oceaneering is a global provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.



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