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PENRITH

April 8, 2010

Hallin Marine buys Seacor AHTS

Singapore headquartered integrated subsea contractor Hallin Marine has expanded its fleet with the purchase of the 222.4 ft, 8,080 bhp, DP2 AHTS Penrith (ex Seacor Penrith) from Seacor Marine. Hallin did not disclose the price paid for the vessel. Hallin is a subsidiary of New Orleans headquartered Superior Energy Services, Inc. (NYSE: SPN)

Hallin already knows the Penrith well, having operated the vessel since its launch in 2008 from shipbuilder Labroy under a time charter from Seacor Marine. Hallin says the purchase will ensure it has total control of the vessel and allow it to offer clients competitive vessel packages, including its range of air diving systems, remote operated vehicles (ROVs) and survey equipment.

The Penrith is powered by two MaK Caterpillar diesel engines, which produce 8,000 brake horse power, is ABS classed and has a fire fighting capability.

The vessel is fitted with additional equipment to target subsea intervention programs, including increased accommodations for 52, has a 20t subsea crane and additional position reference systems.

Hallin's marine management division will operate the vessel, along with the subsea operations vessels the Ullswater, the Windermere, which is currently being fitted out in Singapore, following its launch in December last year, and the Sanko Angel.

John Giddens, Hallin's chief executive officer, said: "We know what an excellent vessel the Penrith is after operating it, so we know this is an excellent deal for both Hallin and for our clients.

"It gives us total control of the vessel and, by combining it with our own air spreads and ROVs, all of which are designed and built in-house, allows us to pass on our very competitive cost base to our clients.

"Now we are part of the Superior Energy group, we have the financial ability to do what is right for Hallin and for our clients and the purchase of the Penrith is an early benefit from joining the group.

"And because our new vessel already has the name of an area of the U.K.'s Lake District, we don't even need to change it to make it fit in with the Ullswater and the Windermere!"


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