By Sam Boughedda
Investing.com -- Helix Energy Solutions Group Inc (NYSE:HLX) announced Thursday after the close that it has entered into a multi-year deal with Shell (LON:RDSa) Offshore Inc to provide well intervention services in the U.S. Gulf of Mexico.
Helix shares closed Thursday's session down 1.44%, although they are up 53.7% in 2022.
The companies have signed a three-year deal that includes an anticipated 75 days utilization per year with the option to add additional utilization days.
Helix will provide either the Q4000 or Q5000 well intervention vessel, a 10k or 15k Intervention Riser System, remotely operated vehicles, project management, and engineering services.
“Shell continues to be a valued customer of Helix. We appreciate their continued confidence in our fully integrated well intervention services, our commitment to safety and cost-effective and efficient solutions," said Scotty Sparks, Helix’s executive vice president and Chief Operating Officer.
No financial details were disclosed.