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Thursday, December 13, 2012

Helix to sell oil and gas unit to Talos Energy, (NYSE: HLX)

Offshore energy company Helix Energy Solutions Group Inc said it would sell its oil and gas unit to privately held Talos Energy LLC for at least $610 million to focus on providing well intervention and robotics services. The deal value could go up to $700 million if Helix's Wang exploration well in the Gulf of Mexico meets expectations.

Helix Energy Solutions Group, Inc. (Helix) is an international offshore energy company, which provides field development solutions and other contracting services to the energy market, as well as to its own oil and gas properties. Shares of HLX fell by 2.16% or $-0.41/share to $18.54. In the past year, the shares have traded as low as $14.61 and as high as $21.09. On average, 813152 shares of HLX exchange hands on a given day and today's volume is recorded at 1010090.