Helix Updates Well Intervention Fleet Backlog
HOUSTON -- November 12, 2012
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has
been awarded its initial customer contractual commitments for the Helix 534.
The Helix 534 was acquired in August from Transocean and is undergoing
modifications and upgrades necessary for conversion into a well intervention
vessel at the Jurong Shipyard in Singapore. The Helix 534 is scheduled to sail
from Singapore during the first quarter of 2013 and after transit to the Gulf
of Mexico, is expected to be placed into service in late second quarter 2013.
Backlog for the Helix 534 involves work in the Gulf of Mexico and extends into
Meanwhile, the Q4000 has extended its strong contractual backlog through 2014,
with strong customer interest into 2016.
Helix also announced today that the Skandi Constructor has also received its
initial contractual awards. The Skandi Constructor is a chartered vessel and
is expected to enter the Helix well intervention fleet in the spring of 2013.
Its initial contract involves work in the North Sea and follows with a project
off the eastern Canadian coast.
Helix’s two existing North Sea based well intervention vessels, the Seawell
and the Well Enhancer, have been awarded customer contracts into the fourth
quarter of 2013.
Owen Kratz, President and Chief Executive Officer of Helix, stated, “The
recent contract awards for our two new additions to the well intervention
fleet, the Helix 534 and the Skandi Constructor, as well as the growing
backlog for our existing fleet, reflects the strong market demand for
deepwater well intervention services as well as Helix’s market leadership for
these services. Furthermore, customer interest for our newbuild
semisubmersible well intervention vessel, the Q5000, remains high. The Q5000
is currently under construction at the Jurong Shipyard in Singapore and is
scheduled to enter the fleet in early 2015.”
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 as well as to its own
oil and gas business unit. For more information about Helix, please visit our
website at www.HelixESG.com.
This press release contains 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 "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, including, without limitation, statements regarding contract backlog;
the timing of vessels entering into service; the estimated duration of
customer contracts; future contract commencement dates and locations; and any
statements of assumptions underlying any of the foregoing. The forward-looking
statements are subject to a number of known and unknown risks, uncertainties
and other factors 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;
uncertainties inherent in the exploration for and development of oil and gas
and in estimating reserves; complexities of global political and economic
developments; geologic risks; volatility of oil and gas prices 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 the securities laws.
Helix Energy Solutions Group, Inc.
Terrence Jamerson, 281-618-0400
Director, Finance & Investor Relations
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