Helix Energy Solutions Group Announces Delivery of Q5000 Semisubmersible Well Intervention Vessel

Strategic Insights -

Helix Energy Solutions Group, Inc. has announced the delivery of the Q5000 semisubmersible well intervention vessel from Sembcorp Marine's Jurong Shipyard to its wholly owned subsidiary, Helix Q5000 Holdings S.A.R.L. The vessel was delivered on April 30th, and in conjunction with the delivery, Helix Q5000 Holdings S.A.R.L. used the proceeds of the previously announced $250 million Q5000 credit facility to make the final shipyard payment. The remaining cash balance of the facility, approximately $148 million, will be used for general corporate and working capital needs.

Key Takeaways:

  • Helix Energy Solutions Group has taken delivery of the Q5000 semisubmersible well intervention vessel from Sembcorp Marine's Jurong Shipyard.
  • The vessel was delivered on April 30th, and the final shipyard payment was made using the proceeds of the $250 million Q5000 credit facility.
  • The remaining cash balance of the facility, approximately $148 million, will be used for general corporate and working capital needs.
  • Helix Energy Solutions Group 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.
  • The company is headquartered in Houston, Texas, and provides information about its operations and developments on its website, www.HelixESG.com, and through social media channels, including Twitter (@Helix_ESG) and LinkedIn (www.linkedin.com/company/helix-energy-solutions-group).
  • The company's forward-looking statements involve risks, uncertainties, and assumptions that could cause its results to differ materially from those expressed or implied by such statements.

Statistics:

  • The Q5000 credit facility is valued at $250 million.
  • The final shipyard payment for the Q5000 semisubmersible well intervention vessel was made using the proceeds of the Q5000 credit facility.
  • The remaining cash balance of the Q5000 credit facility is approximately $148 million.
  • Helix Energy Solutions Group has operations in the offshore energy industry, with a focus on well intervention and robotics operations.

Sources:

  • "HOUSTON -- Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that on April 30th its wholly owned subsidiary, Helix Q5000 Holdings S.A.R.L., took delivery of the Q5000 semisubmersible well intervention vessel from Sembcorp Marine's Jurong Shipyard."
  • "In conjunction with delivery of the vessel, Helix Q5000 Holdings S.A.R.L. used proceeds of the previously announced $250 million Q5000 credit facility to make the final shipyard payment."
  • "The remaining cash balance of the facility, approximately $148 million, will be used for general corporate and working capital needs."
  • "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."