Cal Dive Announces Uncle John Upgrade and Well Intervention Contract for 2012
Cal Dive International, Inc. (NYSE: DVR) announced today that the multiservice vessel Uncle John is currently undergoing an upgrade to the vessel's dynamic positioning and derrick systems, which will enable the vessel to perform light well intervention work in water depths up to 3,500 feet. The upgrade is part of the Company's original capital expenditure budget for 2011. Completion of this upgrade is anticipated during the middle of the first quarter of 2012.
Following this upgrade and upon completion of 45 days of work for a major oil and gas operator, the Uncle John will commence a P&A Support Contract for two deepwater wells for Apache Corporation (NYSE: APA). This awarded work is expected to keep the Uncle John utilized late into the second quarter of 2012.
