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FORM 4
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

   Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935
            or Section 30(f) of the Investment Company Act of 1940

                                                                                                       
(Print or Type Responses)
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 1. Name and Address of Reporting Person       2. Issuer Name and Ticker or Trading Symbol   6. Relationship of Reporting Person
    PURSELL        WADE                           Cal Dive International, Inc. "CDIS"           to Issuer (Check all applicable)
- ---------------------------------------------  ----------------------------------------------       Director         10% Owner
  (Last)          (First)          (Middle)    3. IRS or Social Security  4. Statement for      ----              ---
  Cal Dive International, Inc.                    Number of Reporting        Month/Year          X  Officer (give    Other (Specify
  400 N. Sam Houston Pkwy. E., Suite 400          Person (Voluntary)         Feb. '01           ----        title ---       below)
- ---------------------------------------------                             -------------------               below)
                 (Street)                                                 5. If Amendment,
  Houston,          Texas           77060             ###-##-####            Date of Original         Senior Vice President
- ---------------------------------------------     ----------------------     (Month/Year)         --------------------------------
  (City)           (State)           (Zip)
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                                               TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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 1. Title of Security         2. Trans-   3. Transac-  4. Securities Acquired (A)  5.  Amount of Se-    6. Owner-      7. Nature
    (Instr. 3)                   action      tion         or Disposed of (D)           curities Benefi-    ship           of In-
                                 Date        Code         (Instr. 3, 4 and 5)          cially Owned at     Form:          direct
                                             (Instr. 8)                                End of Month        Direct         Benefi-
                                (Month/                                                (Instr. 3 and 4)    (D) or         cial
                                 Day/        ------------------------------------                          Indirect       Owner-
                                 Year)       Code    V     Amount  (A) or   Price                          (I)            ship
  Cal Dive International                                           (D)                                     (Instr. 4)     (Instr. 4)
   Common Stock                 2/15/01        5     --    14,000   D       $26.25         3,500              D             --
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FORM 4 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES) - ------------------------------------------------------------------------------------------------------------------------------------ 1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price Security sion or action action Derivative cisable and of Underlying of (Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv- Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative Deriv- Day/ Disposed of (D) (Month/Day/ Secur- ative Year) (Instr. 3, 4, Year) ity Security and 5) (Instr. 5) ----------------------------------- Date Expira- Amount or -------------------------- Exer- tion Title Number of Code V (A) (D) cisable Date Shares - ------------------------------------------------------------------------------------------------------------------------------------ Option 4.75 2/15/01 M -- -- 14,000 5/00 5/02 Common Stock 14,000 4.75 - ------------------------------------------------------------------------------------------------------------------------------------ Option 18.0625 2/18/00 A -- 12,000 -- 2/18/01 2/18/05 Common Stock 12,000 18.0625 - ------------------------------------------------------------------------------------------------------------------------------------ Option 18.00 3/1/00 A -- 12,000 -- 3/01/01 3/01/03 Common Stock 12,000 18.00 - ------------------------------------------------------------------------------------------------------------------------------------ Option 19.625 11/30/00 A -- 30,000 -- 11/30/01 11/30/11 Common Stock 30,000 19.625 - ------------------------------------------------------------------------------------------------------------------------------------ Option 26.75 2/15/01 A -- 10,000 -- 2/15/02 2/15/12 Common Stock 10,000 26.75 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ 9. Number of 10. Ownership 11. Nature of Derivative Form of Indirect Securities Derivative Beneficial Beneficially Security: Ownership Owned at End Direct (D) (Instr. 4) of Month or Indirect (I) (Instr. 4) (Instr. 4) 28,000 D N/A - ------------------------------------------------------------------------------------------------------- 40,000 D N/A - ------------------------------------------------------------------------------------------------------- 52,000 D N/A - ------------------------------------------------------------------------------------------------------- 82,000 D N/A - ------------------------------------------------------------------------------------------------------- 92,000 D N/A - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- - ------------------------------------------------------------------------------------------------------- Explanation of Responses: **Intentional misstatements or omissions of facts constitute Federal /s/ WADE PURSELL 3/12/01 Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). ----------------------------------------- **Signature of Reporting Person Date Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.