Forum Energy Technologies Announces Sale of a Large Trenching ROV and Two Work-class ROVs to Helix Energy
HOUSTON--Forum Energy Technologies, Inc. (NYSE: FET) announced today the signing of sale contracts with Helix Energy Solutions Group's Canyon Offshore subsea robotics business unit. Under the contracts, Forum will supply to Canyon Offshore a PerryTM XT1500 Trenching system and two PerryTM XLX 200HP Remotely Operated Vehicle (ROV) systems.
The XT1500 is based on proven technology from previous trenching systems, particularly Forum's T750 and, most recently, the T1200 that Forum supplied to Canyon Offshore in 2012. The XT1500 has extra electro-hydraulic power enabling a wider array of burial configurations, and more tooling packages (including a precutting tool) to provide higher burial performance. The vehicle will be capable of accepting a pipeline burial package and dredge eductor, for burying product in stiff soil and compacted sands. The XT1500 is a culmination of Forum's research initiatives and close working relationship with Canyon Offshore. Forum will also provide support during the mobilization onboard Canyon's vessel and during the sea trials to ensure seamless delivery to market in the same manner as the T1200. The XT1500 Trenching system is scheduled for delivery in early 2014, and will support Canyon Offshore's subsea burial operations in both oil & gas and renewable energy operations.
The PerryTM XLX Generation 2 (G2) 200 horsepower ROV systems will be supplied complete with Forum's Dynacon Launch & Recovery Systems and with tooling packages. Both XLX ROV systems are scheduled for delivery in 2013.
About Forum Subsea Technologies
Forum Subsea Technologies is a product line of Forum Energy Technologies, Inc. Forum's ROV product line ranges from electric observation class ROVs to large hydraulic work-class vehicles used for inspection, survey and deep-water construction, as well as other remote intervention technologies and services. Forum Subsea Technologies is positioned to support its customers through a global sales team and a worldwide network of distributors and service centers.
About Forum Energy Technologies
Forum Energy Technologies Inc., headquartered in Houston, Texas, is a global provider of manufactured technologies and applied products to the energy industry. With approximately 3,400 employees located throughout the world, Forum is well positioned to provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling and production sectors of the oil and gas industry. For more information, please visit www.f-e-t.com.
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