Helix Energy secures well intervention contract in U.S. Gulf

[Offshore oil and gas production and exploration business, Gases processing platform produced crude oil and gas before sent to onshore refinery.]
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Helix Energy Solutions (NYSE:HLX [https://seekingalpha.com/symbol/HLX]) +1.2% pre-market Thursday after saying it was awarded [https://seekingalpha.com/pr/20207364-helix-energy-solutions-awarded-multi-year-contract-in-the-gulf-of-america] a multi-year contract with an unnamed "major operator" to provide production enhancement and well abandonment services in the U.S. Gulf beginning in 2026; financial terms were not disclosed.

The contract, which includes a minimum commitment of vessel utilization split over three years, involves utilizing either the Q5000 or Q4000 riser-based well intervention vessel, a 10k or 15k intervention riser system, remotely operated vehicles, and project management and engineering services.

"We are pleased to expand our backlog by successfully executing another multi-year contract for well intervention services," Helix (NYSE:HLX [https://seekingalpha.com/symbol/HLX]) Executive VP and COO Scotty Sparks said.

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