Helix Energy Solutions Announces Contract Extension with Talos for Helix Producer I
23 November 2022 - 12:23AM
Business Wire
Extension of Production Processing contract
demonstrates strength of relationship with long-term customer
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today
that an affiliate of Talos Energy Inc. (“Talos”) (NYSE:TALO) has
extended for one year the term of its contract with Helix for the
Helix Producer I floating production vessel in the Gulf of Mexico.
The one-year extension term is scheduled to conclude on June 1,
2024 with Talos having the option to extend the contract
annually.
Scotty Sparks, Helix’s Executive Vice President and Chief
Operating Officer, stated, “We are pleased to extend our contract
on the Helix Producer I and look forward to continuing our
long-term working relationship with Talos. The Helix Producer I is
a unique vessel that has provided safe and reliable production
processing for Talos, and this extension further demonstrates our
ability to continue meeting our clients’ needs. We continue to
support the Energy Transition by offering clients the ability to
maximize production from their existing wells.”
The Helix Producer I is a ship-shaped dynamically positioned
(DP2) floating production unit. The vessel is designed to produce
hydrocarbons and export to shore via pipeline or tanker and is
equipped with a disconnectable transfer system (DTS), which allows
the vessel to weathervane during production. This setup also allows
disconnection from flowlines, pipelines and umbilicals, enabling
the vessel to safely navigate away from severe weather and other
potentially unsafe conditions. The vessel has been processing
production from the Phoenix field since 2010.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston,
Texas, is an international offshore energy services company that
provides specialty services to the offshore energy industry, with a
focus on well intervention and robotics operations. Our services
are centered toward and well positioned to facilitate global energy
transition by maximizing production of remaining oil and gas
reserves, decommissioning end-of-life oil and gas fields, and
supporting renewable energy developments. For more information
about Helix, please visit our website at www.helixesg.com.
Forward-Looking Statements
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, any statements regarding
the contract and extension thereof and the parties thereto, the
COVID-19 pandemic and oil price volatility and their respective
effects and results, our protocols and plans, our current work
continuing, the spot market, our ability to identify, effect and
integrate acquisitions, joint ventures or other transactions,
including the integration of the Alliance acquisition; our spending
and cost reduction plans and our ability to manage changes; our
strategy; any statements regarding visibility and future
utilization; any projections of financial items including
projections as to guidance and other outlook information; any
statements regarding future operations expenditures; any statements
regarding our plans, strategies and objectives for future
operations; any statements regarding our ability to enter into,
renew and/or perform commercial contracts; any statements
concerning developments; any statements regarding our
environmental, social and governance ("ESG") initiatives; any
statements regarding future economic conditions or performance; any
statements of expectation or belief; and any statements of
assumptions underlying any of the foregoing. Forward-looking
statements are subject to a number of known and unknown risks,
uncertainties and other factors that could cause results to differ
materially from those in the forward-looking statements, including
but not limited to the results and effects of the COVID-19 pandemic
and actions by governments, customers, suppliers and partners with
respect thereto; market conditions; results from acquired
properties; demand for our services; the performance of contracts
by suppliers, customers and partners; actions by governmental and
regulatory authorities; operating hazards and delays, which include
delays in delivery, chartering or customer acceptance of assets or
terms of their acceptance; our ability to secure and realize
backlog; the effectiveness of our ESG initiatives and disclosures;
human capital management issues; 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 our most recently filed Annual Report on Form 10-K and in
our 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, which speak
only as of their respective dates, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221122005866/en/
Helix Energy Solutions Group, Inc. Erik Staffeldt, Executive
Vice President and CFO email: estaffeldt@helixesg.com Ph:
281-618-0400
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