Helix Energy Makes Executive Management Changes

Helix Energy Solutions

Helix Energy Solutions reports that Martin R. Ferron will succeed Owen E. Kratz as Chief Executive Officer effective October 1, 2006. Mr. Kratz will continue with the company in the role of Executive Chairman of the Board.

Owen Kratz, Chairman and Chief Executive Officer of Helix stated, "Martin has worked closely with me for almost a decade and has been very instrumental in helping to drive the tremendous growth of the company during that period. I look forward to continuing this successful relationship, following the respective title change, as we have a shared vision for the future of Helix. This succession better reflects the relative responsibilities that each of us has been serving and will continue to serve."

Mr. Ferron has been with Helix Energy Solutions or its predecessor, Cal Dive International, since 1997. He became President in 1999 and served as Chief Operating Officer from January 1998 until August 2005. Mr. Ferron has also served on the company's Board of Directors since September 1998.

Helix Energy Solutions, headquartered in Houston, Texas, is an energy services company that provides innovative solutions to the oil and gas industry worldwide for marginal field development, alternative development plans, field life extension and abandonment, with service lines including diving services, shelf and deepwater construction, robotics, well operations, well engineering and subsurface consulting services, platform ownership and oil and gas production.