Helix Energy Solutions Group, Inc. Announces Redemption of Its 3.25% Convertible Senior Notes Due 2032

HOUSTON–(BUSINESS WIRE)–Helix Energy Solutions Group, Inc. (NYSE:HLX) announced today that it
has delivered a notice to the trustee for its 3.25% Convertible Senior
Notes due 2032 (the “Notes”) under which it has called all of the
outstanding Notes for redemption on May 4, 2018 (the “Redemption Date”).
The redemption price for the Notes is equal to 100% of the principal
amount thereof plus accrued and unpaid interest (including contingent
interest, if any) up to, but not including, the Redemption Date. The
aggregate principal amount of the Notes outstanding is $809,000.

The Notes became convertible upon Helix’s call for their redemption and
may be converted at any time before the close of business on May 3,
2018, the business day immediately preceding the Redemption Date. The
Notes are convertible into shares of Helix’s common stock at a rate of
39.9752 shares per $1,000 principal amount of the Notes, equivalent to a
conversion price per share of approximately $25.0155. However, Helix has
elected to deliver cash to satisfy its entire conversion obligation upon
any conversion of the Notes. Holders who wish to convert their Notes
must comply with the requirements set forth in the Notes and related
indenture.

The address of The Bank of New York Mellon Trust Company, N.A., which is
acting as the paying agent and the conversion agent, is as follows:

This press release shall not constitute a notice of redemption with
respect to or an offer to purchase or sell (or the solicitation of an
offer to purchase or sell) any securities, nor shall there be any sale
of any securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

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.

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 our strategy; any statements
regarding visibility and future utilization; any projections of
financial items; any statements regarding future operations
expenditures; any statements regarding the plans, strategies and
objectives of management for future operations; any statements regarding
our ability to enter into and/or perform commercial contracts; any
statements concerning developments; any statements regarding future
economic conditions or performance; any statements regarding the
proposed redemption; any statements of expectation or belief; 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 that could cause results to
differ materially from those in the forward-looking statements,
including but not limited to the terms of the redemption; the
performance of contracts by suppliers, customers and partners; actions
by governmental and regulatory authorities; operating hazards and
delays, which includes delays in delivery, chartering or customer
acceptance of assets or terms of their acceptance; our ultimate ability
to realize current backlog; employee 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 Helix’s most recently filed Annual Report on Form 10-K and in
Helix’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.

Contacts

Helix Energy Solutions Group, Inc.
Erik Staffeldt, 281-618-0400
Senior
Vice President & CFO