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Stock Market & Financial Investment News

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December 13, 2012
13:58 EDTHLXHelix Energy announces sale of oil and gas subsidiary for base price $610M
Helix Energy Solutions Group has entered into a definitive agreement to sell Energy Resource Technology GOM, 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. The selling price involves a base purchase price of $610M plus contingent consideration in the form of overriding royalty interests on ERT's Wang exploration prospect as well as certain other exploration prospects. In addition, the parties have agreed to adjust the purchase price at closing, upward or downward, depending upon the results of the Wang exploration well. The estimated value of the transaction is approximately $700M if the Wang exploration prospect is successful and meets expectations. If the Wang exploration prospect is determined to be unsuccessful, the estimated value of the transaction to Helix is closer to $600M.
News For HLX From The Last 14 Days
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March 26, 2015
18:01 EDTHLXHelix Energy announces Shell contract for Q4000
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March 16, 2015
16:36 EDTHLXHelix Energy COO Cliff Chamblee to retire
Helix Energy announced that effective May 11, Cliff Chamblee will retire after 36 years in the offshore services business and will resign as EVP and COO. Also effective May 11, Scotty Sparks will be promoted to the position of EVP– Operations. Scotty has been with Helix since 2001. He currently holds the office of VP– Commercial and Strategic Development, and has also served in various positions within Helix’s robotics subsidiary, including as SVP, during his tenure at Helix. Prior to that Scotty held various positions within the industry, including Operations Manager at Global Marine Systems.

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