C-Innovation LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, said Sept. 28 it has acquired the controlling interest in Caltex Oil Tools, a solution-focused company providing equipment rentals, services and customized engineering capabilities to the offshore industry.
Headquartered in Houston and led by a core management team with more than 65 years of experience in deep water, remote technologies and intervention solutions, the Caltex team will enable C-I to further expand its engineering and subsea service capabilities in order to deliver a more complete offering. This acquisition underscores C-innovation’s core mission to serve as the single source solution for the subsea and offshore industries.
“With the acquisition of Caltex, we advance our position as the single source solution for our customers,” David Sheetz, vice president of C-I, said. “Caltex’s highly experienced team is a perfect fit to support C-I’s continued growth as a leader in the subsea market. We have been working with Caltex for a few years now, and I believe this deal will allow us to jointly develop more efficient technology and processes to increase returns in riserless light well intervention (RLWI) projects.”
“We are enthusiastic about welcoming the Caltex team into the Chouest family of companies,” Dino Chouest, president of C-Innovation, said. “Teaming C-Innovation with Caltex, along with other Chouest companies, will further strengthen us as a world leader in offering our clients a total solution in today’s challenging market.”
Recommended Reading
NextDecade Targets Second Half of 2024 for Phase 2 FID at Rio Grande LNG
2024-03-13 - NextDecade updated its progress on Phase 1 of the Rio Grande LNG facility and said it is targeting a final investment decision on two additional trains in the second half of 2024.
Sempra Targets Summer 2025 for Commercial Start of ECA LNG Phase 1
2024-03-06 - Sempra is targeting the summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul LNG Phase 1 project, located in Ensenada in Baja California, Mexico.
New Fortress Starts Barcarena LNG Terminal Operations in Brazil
2024-03-01 - New Fortress’ facility consists of an offshore terminal and an FSRU that will supply LNG to several customers.
Gunvor Group Inks Purchase Agreement with Texas LNG Brownsville
2024-03-19 - The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
Mexico Pacific FID Imminent for Saguaro LNG Trains 1 and 2
2024-04-04 - Mexico Pacific Ltd. is close to taking an initial final investment decision for the first two trains at its Saguaro Energía LNG facility in Sonora, Mexico, which will source feed gas from the Permian Basin.