Helix sells three pipelay vessels

Helix Energy Solutions Group Inc. (NYSE: HLX) has agreed to sell its three pipelay vessels, the Caesar, Express, Intrepid, and related equipment in separate transactions for $252,750,000.

Offshore staff

HOUSTON –Helix Energy Solutions Group Inc. (NYSE: HLX) has agreed to sell its three pipelay vessels, the Caesar, Express, Intrepid, and related equipment in separate transactions for $252,750,000.

Helix has agreed to sell the Caesar, Express, and related equipment to Coastal Trade Ltd for $238,250,000. The sale is expected to close in two stages as each vessel completes existing contractual backlog. The Express closing is expected to occur in February 2013 and the Caesar closing is expected in July 2013.

In a separate transaction, Helix sold its pipelay vessel,Intrepid, to Stabbert Maritime Holdings, LLC for $14,500,000.

Helix retains its Ingleside, Texas, spoolbase.

10/17/2012

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