Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it
has closed the previously announced sale of Energy Resource Technology
GOM, Inc. (ERT), the Company′s oil and gas subsidiary, to Talos
Production LLC, a wholly owned subsidiary of Talos Energy LLC, a
privately held Houston-based oil and gas company. Proceeds from the
transaction were approximately $620 million in cash, as well as
overriding royalty interests in ERT′s successful Wang discovery and
certain exploration prospects. Jeffries & Company, Inc. served as the
exclusive financial advisor to Helix in conjunction with the transaction.
A portion of the cash proceeds from the sale of ERT will be used to
repay the Company′s term loans and revolving credit facility
indebtedness as required by the governing credit agreement.
Owen Kratz, President and Chief Executive Officer of Helix, stated that
'the sale of ERT is an important milestone in the Company′s previously
announced strategic plans to grow its Well Intervention and Robotics
businesses.?
About Helix
Helix Energy Solutions Group, headquartered in Houston, Texas, is an
international offshore energy company that provides development
solutions and other key life of field services to the energy market. For
more information about Helix, please visit our website at
Forward-Looking Statements
Statements included in this news release regarding the use of proceeds
from the transaction, Helix′s strategy and other statements that are not
historical facts are forward-looking statements. These statements
involve risks and uncertainties including, but not limited to, operating
hazards and delays, risks associated with international operations,
actions by customers and other third parties, the future prices of oil
and gas, and other risks described from time to time in our reports
filed with the Securities and Exchange Commission ('SEC'), including the
Company's most recently filed Annual Report on Form 10-K and in the
Company′s other filings with the SEC, which are available free of charge
on the SEC′s website at We assume no obligation and do not intend to update these
forward-looking statements except as required by law.
Helix Energy Solutions Group, Inc.
Terrence Jamerson, 281-618-0400
Director,
Finance & Investor Relations
