8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 31, 2005

Cal Dive International, Inc.

(Exact name of registrant as specified in its charter)

Minnesota
(State or other jurisdiction
of incorporation) 000-22739
(Commission File Number) 95-3409686
(IRS Employer Identification No.)

400 N. Sam Houston Parkway E., Suite 400
Houston, Texas
(Address of principal executive offices) 77060
(Zip Code)

281-618-0400
(Registrant’s telephone
number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 7.01. Regulation FD Disclosure

Attached as Exhibit 99.1 and incorporated by reference herein is the press release issued by the Registrant on August 31, 2005 regarding the acquisition of certain assets from Torch Offshore, Inc. This information is not deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 and is not incorporated by reference into any Securities Act registration statements.

Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits.

     99.1          Press Release of Cal Dive International, Inc. dated August 31, 2005.

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Cal Dive International, Inc.

Signatures

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

     Date: September 2, 2005

Cal Dive International, Inc.
By:	/S/ A. WADE PURSELL
	A. Wade Pursell
	Senior Vice President and Chief Financial Officer

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Index to Exhibits

Exhibit No.	Description
99.1	Press Release of Cal Dive International, Inc. dated August 31, 2005.

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EX-99.1

EXHIBIT 99.1

PRESSRELEASE

                                                            www.caldive.com

Cal Dive International, Inc.  ·  400 N. Sam Houston Parkway E., Suite 400  ·  Houston, TX 77060-3500  ·  281-618-0400  ·  fax: 281-618-0505

For Immediate Release 05-023

	Contact:	Wade Pursell
Date: August 31, 2005	Title:	Chief Financial Officer

Cal Dive International, Inc. Closes Asset Purchase Agreement with Torch Offshore

HOUSTON, TX – Cal Dive International, Inc. (Nasdaq: CDIS) announced today that it has closed an asset purchase agreement with Torch Offshore, Inc. (Pink Sheets: TORCQ) following early termination of the second review of the transaction by the Department of Justice. Under the terms of the purchase agreement Cal Dive paid a consideration of $85 million for two shelf pipelay barges; four shelf diving vessels; the deepwater pipelay vessel Midnight Express; and a portable saturation diving system, together with all equipment, inventory, intellectual property and other assets related to the operations of the vessels.

Martin Ferron, President, stated “We are very pleased to have concluded this complicated transaction and are now focused on getting the acquired assets back to work, especially given the extra demand generated by Hurricane Katrina. We expect this to happen on a phased basis before the end of the year due to the need to drydock several of the vessels. The Midnight Express will be placed in service this year in its present condition, but will require significant upgrade work next year to reach its optimum pipelay capability. We expect the overall drydocking and upgrade budget to be around $30 million for all of the assets.

“The deal should be accretive to fourth quarter earnings this year and we expect the acquired assets to generate between $25 million — $30 million of operating cash flow on a full year basis.”

Cal Dive International, Inc., headquartered in Houston, Texas, is an energy service company which provides alternate solutions to the oil and gas industry worldwide for marginal field development, alternative development plans, field life extension and abandonment, with service lines including marine diving services, robotics, well operations, facilities ownership and oil and gas production.

This press release and attached presentation contain forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any projections of revenue, gross margin, expenses, earnings or losses from operations, or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statement concerning developments, performance or industry rankings relating to services; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include the performance of contracts by suppliers, customers and partners; employee management issues; complexities of global political and economic developments, and other risks described from time to time in our reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ending December 31, 2004. We assume no obligation and do not intend to update these forward-looking statements. 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