Superior Offshore granted court approval for $67.15 million sale of three vessels

By Jennifer Lanning Drey

Portland, Ore., July 17 - Superior Offshore International, Inc. was granted court approval to sell three vessels to Infinity Investment Funds, LLC for $67.15 million, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

The vessels are Superior Offshore's Superior Endeavor, Gulf Diver III and Gulf Diver IV.

Infinity also obtained the option to purchase Superior Offshore's Gulf Diver V vessel.

Also under the purchase agreement, Infinity will assume Superior Offshore's leases at its Amelia, La., and Broussard, La., facilities.

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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