Shell Signs Long Term Contract for Helix ESG’s Q4000

Q4000’s 600 ton Huisman Multi Purpose Tower (MPT), image (c) R. Almeida/gCaptain

Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has entered into a new multi-year contract with Shell to provide well intervention services in the U.S. Gulf of Mexico utilizing their semi-submersible deepwater well intervention rig, Q4000.

The Q4000, made somewhat famous within the offshore sector as the primary well intervention asset utilized during the Deepwater Horizon disaster in 2010, has been performing work for Shell since 2011 under a Master Service Agreement. The new contract announced today is for a three-year duration, commencing 2015 through the end of 2017.

“Shell has remained a customer for Helix over a number of years, and we appreciate their confidence in our Company’s well intervention services. Given the current state of the oil and gas markets, we view this contract as a step forward in further executing our business strategy,” commented Helix ESG’s President and Chief Executive Officer, Owen Kratz.

In 2012, gCaptain paid a visit to the Q4000 while it was in drydock, see our report and images HERE.

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