Helix Energy Solutions

About Helix Energy Solutions

The story begins in 1980 when four executives from Oceaneering—Lad Handelman, John Swinden, Don Sites, and Rick Foreman—left to form a new venture. They named it Cal Dive International, reclaiming a name Handelman had used for his original diving company. Initially, the business focused on providing essential diving services to the offshore oil and gas industry. A pivotal moment came in 1990 when a management team, including future CEO Owen Kratz, purchased the company. Under this new leadership, Cal Dive expanded its strategy. It began acquiring mature offshore oil and gas properties, using its own vessels to service them—a move that provided stability in a cyclical market. The company went public in July 1997, listing on the NASDAQ to fund its growth, particularly in deepwater projects. By the mid-2000s, the company had evolved far beyond its diving roots. Recognizing that the name 'Cal Dive' no longer reflected its diverse capabilities, the company rebranded. In 2006, it officially became Helix Energy Solutions Group, a name reflecting its two-stranded business model of offshore services and energy production. This coincided with a move from the NASDAQ to the New York Stock Exchange under the ticker HLX. Today, Helix is a global provider of specialty services, focusing on well intervention and robotics for the offshore energy industry.