Helix sheds non-core assets, shareholders respond with support

IRJ Mar 9 - Helix Energy Solutions, headquartered from Houston, Texas, has received raucous response from investors following its announcement of seeking advisors as it goes about selling off its oil and gas operations. The company makes this announcement as part of its December 2008 strategic decision to shed its non-core assets and move to focus on deepwater wells and subsea construction. Since the original 2008 announcement the company has already sold off its marine contracting business, Cal Dive International, and its reservoir consulting business, Helix RDS. Since this latest announcement hit our screens, shares in Helix have escalated to 92 cents, or 7.8 per cent to US$12.78 as of Monday.

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