Superior Offshore looks to sell saturation diving system for $6.75 million

By Caroline Salls

Pittsburgh, May 9 - Superior Offshore International, Inc. requested court approval of the $6.75 million sale of its saturation diving system to Global Industries Offshore LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

Superior Offshore said the system is mounted on a vessel that is not controlled by the company and requires significant ongoing maintenance expense in order to maintain certification, as well as costly insurance.

A hearing is scheduled for May 19.

Superior Offshore, a Houston-based provider of subsea construction and commercial diving services to the crude oil and natural gas exploration and production industries and gathering and transmission industries, filed for bankruptcy on April 24. Its Chapter 11 case number is 08-32590.

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