SEACOR Marine Announces Agreement to Purchase Liftboats From Superior Energy Services

Wed Feb 22, 2012 8:56pm EST

* Reuters is not responsible for the content in this press release.

  HOUMA, LA, Feb 22 (MARKET WIRE) -- 
SEACOR Marine LLC ("SEACOR Marine") today announced an agreement with
Superior Energy Services L.L.C. to purchase 18 liftboats for $134 million
plus working capital. The transaction is expected to close by the end of
March 2012, subject to regulatory approvals. All of the liftboats are
currently located in the U.S. Gulf of Mexico.

    U.S.-based SEACOR Marine, a subsidiary of SEACOR Holdings Inc. (NYSE:
CKH), operates a fleet of offshore marine support vessels, serving the
global offshore oil and gas exploration and production industry worldwide
with operations and infrastructure concentrated in the United States,
Latin America, North Sea, West Africa, Southeast Asia, and the Middle
East.

    About SEACOR Marine 

    SEACOR Marine operates a diversified fleet of modern and efficient
vessels, servicing the global offshore oil and gas exploration,
development, and production industry worldwide. SEACOR Marine provides
its customers with a comprehensive suite of services, including crew
transportation, platform supply, offshore accommodation, maintenance
support, standby safety services, and anchor handling and mooring
capabilities in both shallow and deepwater environments. 

    For additional information about SEACOR Marine, contact Molly Hottinger
at (954) 627-5278 or visit SEACOR Marine's website at
www.seacormarine.com. 

    This release includes "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements concerning management's expectations,
strategic objectives, business prospects, anticipated economic
performance and financial condition and other similar matters involve
known and unknown risks, uncertainties and other important factors that
could cause the actual results, performance or achievements of results to
differ materially from any future results, performance or achievements
discussed or implied by such forward-looking statements. Such risks,
uncertainties and other important factors include, among others:
decreased demand and loss of revenues as a result of U.S. government
implemented moratoriums directing operators to cease certain drilling
activities and any extension of such moratoriums (the "Moratoriums"),
weakening demand for the Company's services as a result of unplanned
customer suspensions, cancellations, rate reductions or non-renewals of
vessel charters and aviation equipment or failures to finalize
commitments to charter vessels and aviation equipment in response to
Moratoriums, increased government legislation and regulation of the
Company's businesses could increase cost of operations, increased
competition if the Jones Act is repealed, liability, legal fees and costs
in connection with providing spill and emergency response services,
including the Company's involvement in response to the oil spill as a
result of the sinking of the Deepwater Horizon in April 2010, decreased
demand for the Company's services as a result of declines in the global
economy, declines in valuations in the global financial markets and
illiquidity in the credit sectors, including, interest rate fluctuations,
availability of credit, inflation rates, change in laws, trade barriers,
commodity prices and currency exchange fluctuations, the cyclical nature
of the oil and gas industry, activity in foreign countries and changes in
foreign political, military and economic conditions, changes in foreign
and domestic oil and gas exploration and production activity, safety
record requirements related to Offshore Marine Services, Marine
Transportation Services and Aviation Services, decreased demand for
Marine Transportation Services and Harbor and Offshore Towing Services
due to construction of additional refined petroleum product, natural gas
or crude oil pipelines or due to decreased demand for refined petroleum
products, crude oil or chemical products or a change in existing methods
of delivery, compliance with U.S. and foreign government laws and
regulations, including environmental laws and regulations, the dependence
of Offshore Marine Services, Marine Transportation Services and Aviation
Services on several customers, consolidation of the Company's customer
base, safety issues experienced by a particular helicopter model that
could result in customers refusing to use that helicopter model or a
regulatory body grounding that helicopter model, which also could
permanently devalue that helicopter model, the ongoing need to replace
aging vessels and aircraft, industry fleet capacity, restrictions imposed
by the Shipping Acts and Aviation Acts on the amount of foreign ownership
of the Company's Common Stock, operational risks of Offshore Marine
Services, Marine Transportation Services, Harbor and Offshore Towing
Services and Aviation Services, effects of adverse weather conditions and
seasonality, future phase-out of Marine Transportation Services'
double-bottom tanker, dependence of spill response revenue on the number
and size of spills and upon continuing government regulation in this area
and Environmental Services' ability to comply with such regulation and
other governmental regulation, changes in National Response Corporations'
Oil Spill Removal Organization classification, liability in connection
with providing spill response services, the level of grain export volume,
the effect of fuel prices on barge towing costs, variability in freight
rates for inland river barges, the effect of international economic and
political actors in Inland River Services' operations, sudden and
unexpected changes in commodity prices, futures and options, global
weather conditions, political instability, changes in currency exchanges
rates, and product availability in Commodity Trading and Logistics
activities, adequacy of insurance coverage, the attraction and retention
of qualified personnel by the Company and various other matters and
factors, many of which are beyond the Company's control. In addition,
these statements constitute the Company's cautionary statements under the
Private Securities Litigation Reform Act of 1995. It is not possible to
predict or identify all such factors. Consequently, the foregoing should
not be considered a complete discussion of all potential risks or
uncertainties. The words "estimate," "project," "intend," "believe,"
"plan" and similar expressions are intended to identify forward-looking
statements. Forward-looking statements speak only as of the date of the
document in which they are made. The Company disclaims any obligation or
undertaking to provide any updates or revisions to any forward-looking
statement to reflect any change in the Company's expectations or any
change in events, conditions or circumstances on which the
forward-looking statement is based. The forward-looking statements in
this release should be evaluated together with the many uncertainties
that affect the Company's businesses, particularly those mentioned under
"Forward-Looking Statements" in Item 7 on the Company's Form 10-K and
SEACOR's periodic reporting on Form 10-Q and Form 8-K (if any), which are
incorporated by reference.

    

Contact:
Molly Hottinger 
(954) 627-5278 
www.seacormarine.com 

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