Helix to Commence Secondary Public Offering of Cal Dive Common Stock

HOUSTON--(Business Wire)--
Helix Energy Solutions (NYSE:HLX) announced today that it intends to commence an
underwritten secondary public offering of 20 million shares of its majority
owned subsidiary, Cal Dive International, Inc. (NYSE:DVR), which will include an
option for the underwriters to purchase an additional 3 million shares to cover
over-allotments, if any. Helix also announced that it has entered into an
agreement with Cal Dive under which, simultaneously with and conditioned upon
closing the offering, it will sell to Cal Dive an additional $14 million in
shares at a per share price that is equal to the price at which Helix sells
shares under the offering. After the closing of offering and the Cal Dive
repurchase transaction, Helix will cease to own a majority of Cal Dive`s common
stock. Helix intends to use all proceeds from the offering and the stock
repurchase for general corporate purposes.

In connection with the offering, Credit Suisse Securities (USA) LLC and Merrill
Lynch & Co. are acting as joint book-running managers and Raymond James &
Associates and Johnson Rice & Company L.L.C. are acting as co-managers for the
offering.

Cal Dive has filed a registration statement, including a prospectus, with the
Securities and Exchange Commission for the offering to which this communication
relates. Before investing, investors should read the prospectus in that
registration statement, the accompanying prospectus supplement, and other
documents Cal Dive has filed with the SEC for more complete information about
Cal Dive and this offering.

Investors may obtain these documents for free by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer
participating in the offering will arrange to send the prospectus and the
prospectus supplement upon request by contacting Credit Suisse Securities (USA)
LLC at Prospectus Dept., One Madison Avenue, New York, NY 10010, 1-800-221-1037
or Merrill Lynch & Co. at 4 World Financial Center, New York, NY 10080, attn:
Prospectus Department.

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such
jurisdiction.

Helix Energy Solutions, headquartered in Houston, Texas, is an international
offshore energy company that provides reservoir development solutions and other
contracting services to the energy market as well as to its own oil and gas
business unit. Helix`s contracting services segment utilizes its vessels and
offshore equipment that when applied with its methodologies reduce finding and
development costs and cover the complete lifecycle of an offshore oil and gas
field. Helix`s oil and gas segment engages in prospect generation, exploration,
development and production activities. Helix operates primarily in the Gulf of
Mexico, North Sea, Asia Pacific and Middle East Regions.

This press release contains 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; any
statements regarding future economic conditions or performance; any statements
of expectation or belief; 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, 2008. We
assume no obligation and do not intend to update these forward-looking
statements.

Helix Energy Solutions
Tony Tripodo, 281-618-0400
Chief Financial Officer

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