X0202 4 2008-03-24 0 0000866829 HELIX ENERGY SOLUTIONS GROUP INC HLX 0001041815 KRATZ OWEN E 400 N SAM HOUSTON PARKWAY E SUITE 400 HOUSTON TX 77060 1 1 0 0 PRESIDENT & CEO Common Stock 2008-03-24 4 C 0 431871 29.18 D 3332216 D Futures Contract (obligation to sell) 25.20 2008-03-24 4 C 0 500000 0.00 D 2008-03-24 2008-03-24 Common Stock 500000 0 D On February 24, 2005, the reporting person entered into a three-year Forward Sale Agreement with an unaffiliated third party. The agreement obligated the reporting person to deliver up to 1,000,000 shares of Helix Common Stock in two installments of up to 500,000 on March 10, 2008 and up to 500,000 on March 24, 2008. The number of shares to be delivered by the reporting person was to be based on the closing price of Helix Common Stock on each of the applicable settlement dates. As a result of this agreement and based on a maturity-date price equal to $29.18, the reporting person is required to deliver 431,871 shares of Helix Common Stock on March 24,2008. Mr. Kratz also has indirect holdings of 1,000,000 shares owned by Joss Investments Limited Partnership, the general partner of which is an entity that Mr. Kratz controls. /s/ A. Wade Pursell, by power of attorney 2008-03-25