HOUSTON, May 31 /PRNewswire-FirstCall/ -- Helix Energy Solutions Group,
Inc. (Nasdaq: HELX) announced today that Cal Dive International, Inc. (a
wholly-owned subsidiary) filed with the Securities and Exchange Commission
a Form S-1 for its planned initial public offering (IPO) of a minority
interest in Cal Dive's common stock.
The offering will be made only by means of a prospectus. Once
available, preliminary prospectuses may be obtained from Cal Dive
International, Inc., 400 North Sam Houston Parkway E, Houston, Texas 77060
or by calling (281) 618-0400.
A registration statement relating to the IPO of Cal Dive International,
Inc. stock has been filed with the Securities and Exchange Commission but
has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement
becomes effective. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall there be
any sale of Cal Dive International, Inc. common stock in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
About Cal Dive International, Inc.
Cal Dive International, Inc., a wholly-owned subsidiary of Helix Energy
Solutions, is a marine contractor that provides diving, pipelay and pipe
burial services to the offshore oil and natural gas industry.
About Helix Energy Solutions
Helix Energy Solutions 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.
FORWARD-LOOKING STATEMENTS
This press release and attached presentation contain 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 statements that could be deemed "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995, including, without limitation, any projections of revenue,
gross margin, expenses, earnings or losses from operations, or other
financial items; future production volumes, results of exploration,
exploitation, development, acquisition and operations expenditures, and
prospective reserve levels of property or wells; any statements of the
plans, strategies and objectives of management for future operations; any
statement concerning developments, performance or industry rankings
relating to services; any statements regarding future economic conditions
or performance; any statements of expectation or belief; any statements
regarding the proposed merger of Remington Oil and Gas Corporation into a
wholly-owned subsidiary of Helix or the anticipated results (financial or
otherwise) thereof; and any statements of assumptions underlying any of the
foregoing. The risks, uncertainties and assumptions referred to above
include the performance of contracts by suppliers, customers and partners;
employee management issues; complexities of global political and economic
developments, geologic risks and other risks described from time to time in
our reports filed with the Securities and Exchange Commission ("SEC"),
including the Company's Annual Report on Form 10- K for the year ending
December 31, 2005; and, with respect to the proposed Remington merger,
actual results could differ materially from Helix's expectations depending
on factors such as the combined company's cost of capital, the ability of
the combined company to identify and implement cost savings, synergies and
efficiencies in the time frame needed to achieve these expectations, prior
contractual commitments of the combined companies and their ability to
terminate these commitments or amend, renegotiate or settle the same, the
combined company's actual capital needs, the absence of any material
incident of property damage or other hazard that could affect the need to
effect capital expenditures, any unforeseen merger or acquisition
opportunities that could affect capital needs, the costs incurred in
implementing synergies and the factors that generally affect both Helix's
and Remington's respective businesses as further outlined in "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
in each of the companies' respective Annual Reports on Form 10-K for the
year ended December 31, 2005. Actual actions that the combined company may
take may differ from time to time as the combined company may deem
necessary or advisable in the best interest of the combined company and its
shareholders to attempt to achieve the successful integration of the
companies, the synergies needed to make the transaction a financial success
and to react to the economy and the combined company's market for its
exploration and production. We assume no obligation and do not intend to
update these forward-looking statements.
ADDITIONAL INFORMATION
Helix and Remington have filed a proxy statement/prospectus and other
relevant documents concerning the proposed merger transaction with the SEC.
Investors are urged to read the proxy statement/prospectus and any other
relevant documents filed with the SEC because they contain important
information. You can obtain the documents free of charge at the website
maintained by the SEC at http://www.sec.gov . In addition, you may obtain
documents filed with the SEC by Helix free of charge by requesting them in
writing from Helix or by telephone at (281) 618-0400. You may obtain
documents filed with the SEC by Remington free of charge by requesting them
in writing from Remington or by telephone at (214) 210-2650. Helix and
Remington, and their respective directors and executive officers, may be
deemed to be participants in the solicitation of proxies from the
stockholders of Remington in connection with the merger. Information about
the directors and executive officers of Helix and their ownership of Helix
stock is set forth in the proxy statement for Helix's 2006 Annual Meeting
of Shareholders. Information about the directors and executive officers of
Remington and their ownership of Remington stock is set forth in the Annual
Report on Form 10-K for the year ended December 31, 2005, as amended by
Form 10-K/A. Investors may obtain additional information regarding the
interests of such participants by reading the proxy statement/prospectus.
SOURCE Helix Energy Solutions Group, Inc.
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Related links:
http://www.HelixESG.com
CONTACT:
Wade Pursell Chief Financial Officer of Helix
Energy Solutions Group, Inc., +1-281-618-0400, or fax,
+1-281-618-0505
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