Helix Sells Subsurface Reservoir Consulting Business

Helix Energy Solutions announced the sale of Helix RDS, its subsurface reservoir consulting business based in Aberdeen, Scotland, to a subsidiary of Baker Hughes Incorporated for $25 million. Helix RDS is a provider of reservoir engineering, geophysical, production technology and associated specialized consulting services to the upstream oil and gas industry. Helix Energy Solutions acquired Helix RDS in November, 2005.

Helix Energy Solutions, headquartered in Houston, Texas, is an international offshore energy company that provides reservoir development solutions and other contracting services to the energy market as well as to its own oil and gas business unit. Helix's contracting services segment utilizes its vessels and offshore equipment that when applied with its methodologies reduce finding and development costs and cover the complete lifecycle of an offshore oil and gas field. Helix's oil and gas segment engages in prospect generation, exploration, development and production activities. Helix operates primarily in the Gulf of Mexico, North Sea, Asia Pacific and Middle East Regions.
 

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