Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it
has entered into a five-year contract with BP to provide well
intervention services to BP in the US Gulf of Mexico with Helix’s
deepwater well intervention semisubmersible vessel, the Q5000,
currently being constructed in Singapore. The contract is for a minimum
270 days each year and is expected to commence between April and August
2015 following the delivery of the vessel from the shipyard. The
contract also includes a first right of refusal for additional days each
year and an option to extend for two successive one-year terms.
“We appreciate the confidence BP has shown in our Company’s well
intervention services, and look forward to this integral step in further
executing our business strategy,” said Helix President and Chief
Executive Officer Owen Kratz.
About Helix
Helix Energy Solutions Group, headquartered in Houston, Texas, is an
international offshore energy company that provides key life of field
services to the energy market. For more information about Helix, please
visit our website at www.HelixESG.com.
Forward-Looking Statements
Statements included in this news release regarding the timing of
commencement of the contract, 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
the performance of contracts by suppliers, customers and partners;
actions by governmental and regulatory authorities; operating hazards
and delays; employee management issues; local, national and worldwide
economic conditions; uncertainties inherent in the exploration for and
development of oil and gas; complexities of global political and
economic developments; geologic risks, volatility of oil and gas prices;
market conditions, 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 www.sec.gov.
We assume no obligation and do not intend to update these
forward-looking statements except as required by law.
