Finance News

Oceaneering International, Inc. Manufactured Products segment won multiple contracts during the fourth quarter of 2023, with anticipated aggregate revenue of approximately $200 million. The anticipated revenues from these contracts, primarily with international oil and gas operators and marine construction companies, range in value from less than $10 million to greater than $100 million.

W&T Offshore, Inc. announces that the Company has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., Energy XXI GOM, LLC, Energy XXI Gulf Coast, LLC, EPL Oil & Gas, LLC and M21K, LLC (collectively, the “Debtors”), as described in the Order Approving the Purchase And Sale Agreement With W&T Offshore, Inc. issued on January 16, 2024, the closing and effective date of the transaction.

Cleantech venture capital pioneer Emerald Technology Ventures has invested into Sea Machines, a developer of autonomous control systems and advanced perception technology for maritime vessels. This 12 million USD funding round, which was joined by Nabtesco Technology Ventures (NTV), Chevron Technology Ventures, Ingram Industries, RKKVC, Level 2 Ventures, and IMC Ventures, will help Sea Machines hone its technological edge and grow its market presence.

As we enter a New Year, the memories of the shocks to the foundations to the US offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been the key themes highlighted by developers to explain why many projects became commercially unviable, as outlined in the most recent US Offshore Wind Report from business intelligence and consulting firm Intelatus Global Partners.

Coretrax, a global leader in oil and gas well integrity and production optimization, is set for further growth with five multi-year contract wins secured for 2024 and plans to grow its footprint in Asia Pacific by a further 30% this year.

ThayerMahan, a world leader in autonomous maritime surveillance solutions, closed $20 million in follow-on Series C funding led by Hanwha Asset Management. Existing investors, including MC2, AE Industrial, I Squared Capital, and Yellow Sub Funding participated pro rata in the round.

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