8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 11, 2008

Helix Energy Solutions Group, Inc.
(Exact name of registrant as specified in its charter)

Minnesota	001-32936	95-3409686
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

400 North Sam Houston Parkway East, Suite 400 Houston, Texas	77060
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: 281-618-0400

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 11, 2008, Wade Pursell announced that he will resign as Executive Vice President and Chief Financial Officer of Helix Energy Solutions Group, Inc. (the “Company”) effective as of June 25, 2008. The Company is currently negotiating a separation agreement with Mr. Pursell the terms of which are unknown.

The Company also announced that its Board of Directors has appointed Anthony Tripodo as its Executive Vice President and Chief Financial Officer, effective June 25, 2008. The terms of Mr. Tripodo’s employment with the Company as Executive Vice President and Chief Financial Officer will be evidenced by an employment agreement currently under negotiation. The Company and Mr. Tripodo have entered into a letter agreement offering Mr. Tripodo employment on the following terms:

• Base Salary equal to $365,000,

• Initial Bonus equal to $75,000,

• 2008 Performance Bonus Opportunity equal to $450,000,

• Restricted Stock Grant of 70,500 shares, and

• Other standard benefits.

Mr. Tripodo is 55 years old and has served as a director of the Company since February 2003. Mr. Tripodo currently serves as the Executive Vice President and Chief Financial Officer of Tesco Corporation. From 2003 through the end of 2006, he was a Managing Director of Arch Creek Advisors LLC, a Houston based investment banking firm. From 2002 to 2003, Mr. Tripodo was Executive Vice President of Veritas DGC, Inc., an international oilfield service company specializing in geophysical services. Prior to becoming Executive Vice President, he was President of Veritas DGC’s North and South American Group. From 1997 to 2001, he was Executive Vice President, Chief Financial Officer and Treasurer of Veritas. Previously, Mr. Tripodo served 16 years in various executive capacities with Baker Hughes, including serving as Chief Financial Officer of both the Baker Performance Chemicals and Baker Oil Tools divisions. There is no family relationship between Mr. Tripodo and any director or executive officer of the Company.

A copy of the Company’s press release announcing the resignation of Mr. Pursell and the appointment of Mr. Tripodo is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Number	Description
99.1	Press Release of Helix Energy Solutions Group, Inc. dated June 11, 2008 reporting resignation and appointment of Chief Financial Officer.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 11, 2008
	HELIX ENERGY SOLUTIONS GROUP, INC.
	By:	/s/ Alisa B. Johnson
		Alisa B. Johnson Senior Vice President and General Counsel

Index to Exhibits

Exhibit No.   Description

99.1 Press Release of Helix Energy Solutions Group, Inc. dated June 11, 2008 reporting resignation and appointment of Chief Financial Officer.

EX-99.1

Exhibit 99.1

PRESS RELEASE
 
www.HelixESG.com

Helix Energy Solutions Group, Inc. • 400 N. Sam Houston Parkway E., Suite 400 • Houston, TX 77060 • 281-618-0400 • Fax: 281-618-0505

For Immediate Release 08-011

	Contact:	H. Clifford Buster
Date: June 11, 2008	Title:	Vice President & Treasurer

HELIX APPOINTS NEW CHIEF FINANCIAL OFFICER

HOUSTON, TX — Helix Energy Solutions (NYSE: HLX) announced today that Wade Pursell has given his notice that he will be stepping down as Helix’s Executive Vice President and Chief Financial Officer, effective as of June 25, 2008. Helix’s Board of Directors has appointed Anthony Tripodo to be the Executive Vice President and Chief Financial Officer of Helix, to be effective as of June 25, 2008.

Mr. Tripodo is currently the Executive Vice President and Chief Financial Officer of Tesco Corporation, and has over 28 years of experience, including various executive positions, in the energy industry. Mr. Tripodo, who has served on Helix’s Board of Directors since 2003, will resign from the Helix Board.

Mr. Kratz, Helix’s President and Chief Executive Officer, stated: “It is with genuine sadness that we say farewell to Wade. Wade has served the company well for many years making many valuable contributions and has become a real friend. I and everyone at Helix wish only the best for our friend and I am sure he will do well in his future endeavors.

We welcome Tony to management of Helix, and look forward to working with him in his new capacity. Tony brings with him a breadth of company as well as industry experience. We believe that Tony’s experience, expertise, and knowledge of our company from his five years of service on our Board will make him an important contributor to Helix.”

Helix Energy Solutions, headquartered in Houston, Texas, is an international offshore energy company that provides development solutions and other key life of field services to the open energy market as well as to our own oil and gas business unit.

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, 2007. We assume no obligation and do not intend to update these forward-looking statements.