Investment Summary

Oceaneering Invests In Medusa Spar

On December 18, 2003, Oceaneering invested in oil/gas exploration company Medusa Spar for 45M USD

Investment Highlights
  • This is Oceaneering’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Oceaneering’s 8th largest (disclosed) transaction.
  • This is Oceaneering’s 3rd transaction in the United States.
  • This is Oceaneering’s 1st transaction in Mississippi.

Investment Summary

Date 2003-12-18
Target Medusa Spar
Sector Oil/Gas Exploration
Investor(s) Oceaneering
Deal Type Stake Purchase
Deal Value 45M USD

Target

Medusa Spar

Canyon,, Mississippi, United States
Medusa Spar LLC is a limited liability company .The Company owns a 75% undivided ownership position in the spar production platform moored in over 2,200 feet of water on the Medusa field in the Gulf of Mexico, Mississippi Canyon Block 582.

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Investor(S) 1

Investor

Oceaneering

Houston, Texas, United States

Category Company
Founded 1964
Sector Energy Services and Equipment
Employees10,100
Revenue 2.7B USD (2024)
DESCRIPTION
Oceaneering International's corporate headquarters in Houston, Texas.
Oceaneering International's corporate headquarters in Houston, Texas.

Oceaneering provides 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, the company also serves the defense, entertainment, and aerospace industries. Oceaneering International was formed in 1964 and is based in Houston, Texas.


DEAL STATS #
Overall 7 of 17
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Stake Purchase M&A Deals 1 of 2
State: Mississippi M&A 1 of 1
Country: United States M&A 3 of 7
Year: 2003 M&A 7 of 7
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-02 Stolt ROV Business Operations

Netherlands

Stolt ROV Business Operations including 34 work class ROVs, ancillary equipment, and related contracts and employees.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-10 Ifokus Engineering AS

Stavanger, Norway

Ifokus Engineering AS is a Norwegian designer and manufacturer of specialty subsea products, including ROV tooling. In addition to ROV tooling and interfaces, Ifokus product lines include hardware to perform fluid transfer and control, valve intervention, and hydrate remediation. Specific Ifokus products of note include leading-edge electric valve actuators and multifunction hot stabs.

Buy -