Houlihan Lokey Advises QuarterNorth Energy

Houlihan Lokey is pleased to announce that QuarterNorth Energy LLC (QNE) has sold its Plugging & Abandonment (P&A) business to a subsidiary of Helix Energy Solutions Group, Inc. (NYSE:HLX) (Helix).

QNE is a privately owned exploration and production company operating in the deepwater Gulf of Mexico (GoM), where it owns and operates a diverse set of producing properties alongside a robust prospect inventory strategically located near key deepwater facilities.

The P&A business provides decommissioning of oil and gas assets at the end of their economic life in the GoM shelf. The company opted to carve out the P&A business following a strategic review in which it determined positioning QNE as a pure-play deepwater upstream operator would best align with its goals.

Helix is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics, and full-field decommissioning operations. Helix provides a range of services to the oil and gas and renewable energy markets primarily in the GoM, U.S. East Coast, Brazil, North Sea, Asia-Pacific, and West Africa regions.

Houlihan Lokey advised QNE in all aspects of marketing, structuring, and negotiating the sale.