Helix Energy Solutions Group, Inc. (NYSE: HLX) announced on Tuesday (Nov22) that an affiliate of Talos Energy Inc. (Talos) (NYSE:TALO) has extended for one year the term of its contract with Helix for the Helix Producer I floating production vessel in the Gulf of Mexico. The one-year extension term is scheduled to conclude on June 1, 2024 with Talos having the option to extend the contract annually.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “We are pleased to extend our contract on the Helix Producer I and look forward to continuing our long-term working relationship with Talos. The Helix Producer I is a unique vessel that has provided safe and reliable production processing for Talos, and this extension further demonstrates our ability to continue meeting our clients’ needs. We continue to support the Energy Transition by offering clients the ability to maximize production from their existing wells.”
The Helix Producer I is a ship-shaped dynamically positioned (DP2) floating production unit. The vessel is designed to produce hydrocarbons and export to shore via pipeline or tanker and is equipped with a disconnectable transfer system (DTS), which allows the vessel to weathervane during production. This setup also allows disconnection from flowlines, pipelines and umbilicals, enabling the vessel to safely navigate away from severe weather and other potentially unsafe conditions. The vessel has been processing production from the Phoenix field since 2010.