Helix Energy Solutions Group, Inc. announced that it has acquired from Marathon Oil Corporation certain operating depths associated with the Droshky Prospect on Green Canyon Block 244, along with related infrastructure. As part of the transaction, Helix will perform the required plug and abandonment operations for which Marathon Oil will pay certain agreed upon amounts.

Owen Kratz, President and Chief Executive Officer of Helix, stated, “This transaction represents the first instance of executing our strategy to secure utilization for our assets in non-traditional ways during this continuing challenging market period. We may see some production revenues from the acquired property; however, the principal driver for this transaction is asset utilization.”

About Helix

Helix Energy Solutions Group, Inc. (NYSE: HLX), headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

About Marathon Oil

Marathon Oil Corporation (NYSE: MRO) is an independent global exploration and production company. Based in Houston, Texas, the Company operates in North America, Europe and Africa. Each of the Company’s three reportable operating segments is organized based upon both geographic location and the nature of the products and services it offers.