Helix Energy Solutions Group, Inc. Announces the Expiration and Final Results of Its Offer to Purchase Its 3.25% Convertible Senior Notes Due 2032

Helix Energy Solutions Group, Inc. (NYSE:HLX) announced today the
expiration and final results of its previously announced offer to
purchase its outstanding 3.25% Convertible Senior Notes due 2032 (the
“Notes”) at the option of the holders of the Notes pursuant to the terms
of the indenture governing the Notes. The offer to purchase and
withdrawal rights with respect to tendered Notes expired at 5:00 p.m.,
New York City time, on March 15, 2018. Holders of an aggregate of
$59,306,000 principal amount of the Notes exercised the holders’ right
to surrender their Notes for repurchase, and an aggregate of $809,000
principal amount of the Notes remains outstanding. Helix currently
expects the repurchase price for any Notes that have been validly
surrendered for purchase and not withdrawn by the expiration of the
offer to purchase will be paid on March 20, 2018.

The holders’ right to surrender their Notes for repurchase was made
pursuant to the terms of a Company Notice dated February 14, 2018, which
was attached as an exhibit to the Tender Offer Statement on Schedule TO
filed by Helix with the Securities and Exchange Commission (“SEC”) on
February 14, 2018. Holders of the Notes and other interested parties may
obtain a free copy of these documents at the SEC’s website, www.sec.gov,
or from the trustee, which is The Bank of New York Mellon Trust Company,
N.A.

Press Release for Informational Purposes Only

This press release is for informational purposes only and does not
constitute an offer to purchase, or solicitation of an offer to sell,
any Notes. None of Helix, its board of directors, or its employees makes
any recommendation to any holder as to whether to exercise or refrain
from exercising their right to surrender Notes for repurchase, and no
one has been authorized by any of them to make such a recommendation.

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
consummation of the settlement of the repurchase and document
availability; 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 settlement of the repurchase; market
conditions; 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 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.

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