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):  October 4, 2004

____________________


GLOBAL INDUSTRIES, LTD.
(Exact name of registrant as specified in its charter)



Louisiana
(State or other jurisdiction
of incorporation or organization)

2-56600

(Commission File
Number)

72-1212563

(I.R.S. Employer
Identification No.)






8000 Global Drive


70665


P.O. Box 442, Sulphur, LA

(Address of principal executive offices)


70664-0442
(Zip code)





Registrant's telephone number, including area code:  (337) 583-5000




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):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the 
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the 
Exchange Act (17 CFR 240.13e-4(c))
Section 1 - Registrant's Business and Operations











Item 2.01. 

 On September 2, 2004, Global Industries, Ltd., ("Global"), entered into a definitive 
agreement with Hercules Liftboat Company, LLC (formerly Mercury Offshore Assets, LLC, 
"Hercules") to sell 
all 22 liftboats in Global's fleet, spare parts and other assets relating to it's liftboat operations as well as certain real estate in Iberia Parish, 
Louisiana to Hercules for $53.5 million in cash.  The sale of Global's liftboat 
operations was completed on October 4, 2004.  A copy of the press release 
announcing the completion of this transaction is included as Exhibit 99.1 to 
this Current Report on Form 8-K and incorporated by reference into this Item 
2.01.


  

Item 9.01.  Financial Statements and Exhibits  
        (a)    Financial 
statements of businesses acquired.
                
Global will file any required financial statements not later than seventy-one 
days after the date that this Current Report on Form 8-K is required to be 
filed.     
        (b)    Pro forma 
financial information.
                
Global will file any required financial statements not later than seventy-one 
days after the date that this Current Report on Form 8-K is required to be 
filed. 
        (c)    Exhibits.

                
99.1    Press release dated October 4, 2004.
 
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 hereunto duly authorized. 


                                                            
                                                                    GLOBAL INDUSTRIES, LTD.


Dated:  October 8, 2004                            By:  /s/        Timothy W. Miciotto



                                                                       Name:  Timothy W. Miciotto

                                                                    Title:  Senior Vice President/CFO

 


EXHIBIT INDEX

 


Exhibit

Number        Exhibit Description  


  

  
    99.1               Press release 
    dated October 
    4, 2004.
  

             




 





    
EXHIBIT 99.1

[GLOBAL INDUSTRIES, LTD. LOGO]

FOR IMMEDIATE RELEASE

PRESS RELEASE CONTACT: WILLIAM J. DORE', JR.
 



Global Industries Completes Sales of DB Arapaho and 
Liftboat Division



CARLYSS, LOUISIANA (October 4, 2004) - Global Industries, 
Ltd. (Nasdaq: GLBL) announced today that it has completed the 
previously announced sales of the DB Arapaho and the Liftboat Division. 
The Arapaho, an 800-ton conventional derrick barge currently based in the 
U.S. Gulf of Mexico, was sold on September 29th, 2004 to a subsidiary 
of Tetra Technologies, Inc. The Liftboat Division was sold on October 4, 2004 to 
Hercules Liftboat Company, LLC (formerly Mercury Offshore Assets LLC).

Global Industries provides pipeline construction, platform 
installation and removal, diving services, and other marine support to the oil 
and gas industry in the Gulf of Mexico, West Africa, Asia Pacific, the 
Mediterranean, Middle East/India, South America, and Mexico's Bay of Campeche. 
The Company's shares are traded on the NASDAQ National Market System under the 
symbol "GLBL."

This press release may contain forward-looking information 
based on current information and expectations of the Company that involve a 
number of risks, uncertainties, and assumptions. Among the factors that could 
cause the actual results to differ materially are industry conditions, prices of 
crude oil and natural gas, the Company's ability to obtain and the timing of new 
projects, and changes in competitive factors. Should one or more of these risks 
or uncertainties materialize, or should the underlying assumptions prove 
incorrect, actual outcomes could vary materially from those indicated.

For more information, contact Investor Relations, Global Industries, Ltd., 11490 Westheimer, 
Suite 400, Houston, Texas 77077. Tel: 281.529.7979 or
www.globalind.com.