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<TITLE>Filed by Bowne Pure Compliance</TITLE>
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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): January 23, 2009</B>

<P style="font-size: 24pt" align="center"><B>Helix Energy Solutions Group,
Inc.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Minnesota</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>001-32936</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>95-3409686</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>400 North Sam Houston Parkway East, <BR>
Suite 400<BR>
Houston, Texas</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>77060</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>281-618-0400</B>
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cellpadding="0" width="30%" border="0">

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  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;2.01 Completion of
Acquisition or Disposition of Assets.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On January&nbsp;23,
2009, the Company entered into a stock repurchase agreement with Cal Dive for
the sale of 13,564,669 shares of Cal Dive&#8217;s common stock to Cal Dive for
aggregate consideration equal to $86,000,000 or $6.34 per share. The purchase
price represents an approximate 2% discount to the 30&nbsp;day average trading
price of Cal Dive&#8217;s Common Stock as of January&nbsp;16, 2009. Helix
closed the transaction on January&nbsp;28, 2009. Helix will use the proceeds of
the sale for general corporate purposes.&nbsp; Prior to the completion of the
transaction, the Company owned approximately 57.2% of Cal Dive&#8217;s common
stock. After the consummation of this transaction Helix will own 47,942,022 of
the 93,946,409 shares of Cal Dive common stock outstanding such that Helix
maintains approximately a 51% ownership interest in Cal Dive.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The description of
the provisions of the Agreement are qualified in their entirety by reference to
the full and complete terms of the Agreement, which is attached hereto as
Exhibit&nbsp;10.1 and is incorporated by reference herein.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;3.02 Unregistered
Shares of Equity Securities.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On January&nbsp;23,
2009, Fletcher International, Ltd. elected to redeem 30,000 shares of its
Series&nbsp;A-2 Cumulative Convertible Preferred Stock (the &#8220;Preferred
Stock&#8221;) in exchange for 5,938,776 shares of the Company&#8217;s common
stock. The redemption was completed, and the shares of common stock issued, on
January&nbsp;27, 2009. The Preferred Stock had been previously issued to
Fletcher International, Ltd. and, in accordance with the terms of such series,
was convertible and redeemable by the holder of such shares. The shares of
Preferred Stock being redeemed by Fletcher International, Ltd, constitute all
of the issued and outstanding shares of such series of Preferred Stock. The
common stock issued to Fletcher International, Ltd. upon the redemption of the
preferred stock was registered pursuant to an effective registration statement
filed with the Securities and Exchange Commission. Fletcher International, Ltd.
is also the holder of the Company&#8217;s Series&nbsp;A-1 Cumulative
Convertible Preferred Stock.

<P style="font-size: 10pt; text-indent: 4%" align="justify">The issuance
described above was made based&nbsp;on&nbsp;an
exemption&nbsp;from&nbsp;registration under the Securities Act of 1933, as
amended (the &#8220;Securities&nbsp;Act&#8221;), pursuant to
&nbsp;Section&nbsp;3(a)(9) &nbsp;of the Securities &nbsp;Act and applicable
state laws. This issuance qualified for this&nbsp;exemption from registration
because it was an exchange by the issuer with an existing security holder
exclusively where no commission or other remuneration was paid or given
directly or indirectly for soliciting such exchange.

<P style="font-size: 10pt" align="justify"><B>Item&nbsp;7.01 Regulation&nbsp;FD
Disclosure.</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">On January&nbsp;25,
2009, Helix issued a press release containing information related to the sale
of shares to Cal Dive. Attached hereto as Exhibit&nbsp;99.1, and incorporated
by reference herein, is that press release.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt; text-indent: 4%" align="justify">On January&nbsp;26,
2009, Helix issued a press release containing information related to the
redemption of its Series A-2 Cumulative Convertible Preferred Stock. Attached
hereto as Exhibit&nbsp;99.2, and incorporated by reference herein, is that
press release.

<P style="font-size: 10pt; text-indent: 4%" align="justify">This information is
not deemed to be &#8220;filed&#8221; for the purposes of Section&nbsp;18 of the
Securities Exchange Act of 1934, as amended (&#8220;Exchange Act&#8221;), or
otherwise subject to the liabilities of that section, and such information is
not incorporated by reference into any registration statements or other
document filed under the Securities Act of 1933, as amended (&#8220;Securities
Act&#8221;), or the Exchange Act, regardless of the general incorporation
language contained in such filing, except as shall be expressly set forth by
specific reference to this filing.

<P style="font-size: 10pt; text-indent: 4%" align="center">&nbsp;

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<P style="font-size: 10pt" align="justify"><B>Item&nbsp;9.01 Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="justify">(c)&nbsp;<I>Exhibits.</I>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%" border="0">
<!-- Begin Table Head -->
<TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->

<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top" align="left" style="border-bottom: #000000 1px solid">Number</TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" valign="bottom" align="left">Description</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="top">
  <TD align="left">10.1</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Stock Repurchase Agreement by and between
Helix Energy Solutions Group, Inc. and Cal Dive International Inc.</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="top">
  <TD align="left">99.1</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Press Release of Helix Energy Solutions Group,
Inc. dated January&nbsp;25, 2009 regarding the sale of stock to Cal Dive
International Inc.</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="top">
  <TD align="left">99.2</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Press Release of Helix Energy Solutions Group,
Inc. dated January&nbsp;26, 2009 regarding the redemption of its
Series&nbsp;A-2 Cumulative Convertible Preferred Stock.
</TD>
</TR>
</TABLE>

</DIV>



<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 4%" align="justify">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.

<P style="font-size: 10pt" align="justify">Date: January&nbsp;28, 2009

<DIV align="center">
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  <TD width="48%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD colspan="2" valign="top" align="left">HELIX ENERGY SOLUTIONS GROUP, INC.</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">By: </TD>
  <TD style="border-bottom: 1px solid #000000" valign="top" align="left">/s/ Anthony Tripodo</TD>
 </TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Anthony Tripodo<BR>
Executive Vice President and Chief Financial Officer</TD>
</TR>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
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<P style="font-size: 10pt" align="center"><B>Index to Exhibits</B>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%" border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->

<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top" align="left">Exhibit&nbsp;No.</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Description</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


 <TR valign="top">
  <TD align="left">10.1</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Stock Repurchase Agreement by and between
Helix Energy Solutions Group, Inc. and Cal Dive International Inc.</TD>
 </TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="top">
  <TD align="left">99.1</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Press Release of Helix Energy Solutions Group,
Inc. dated January&nbsp;25, 2009 regarding the sale of stock to Cal Dive
International Inc.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

 <TR valign="top">
  <TD nowrap align="left" width="3%">99.2</TD>
  <TD>&nbsp;</TD>
  <TD align="justify">Press Release of Helix Energy Solutions Group,
Inc. dated January&nbsp;26, 2009 regarding the redemption of its
Series&nbsp;A-2 Cumulative Convertible Preferred Stock.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">5
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{"company-data": {"conformed-name": "HELIX ENERGY SOLUTIONS GROUP INC", "cik": "0000866829", "assigned-sic": "1389", "irs-number": "953409686", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32936", "film-number": "09551505"}, "business-address": {"street1": "400 N SAM HOUSTON PKWY E", "street2": "SUITE 400", "city": "HOUSTON", "state": "TX", "zip": "77060", "phone": "2816180400"}, "mail-address": {"street1": "400 N SAM HOUSTON PKWY E", "street2": "SUITE 400", "city": "HOUSTON", "state": "TX", "zip": "77060"}, "former-company": {"former-conformed-name": "CAL DIVE INTERNATIONAL INC", "date-changed": "19960821"}}
Filed by Bowne Pure Compliance
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): January 23, 2009
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 2.01 Completion of
Acquisition or Disposition of Assets.
On January 23,
2009, the Company entered into a stock repurchase agreement with Cal Dive for
the sale of 13,564,669 shares of Cal Dive's common stock to Cal Dive for
aggregate consideration equal to $86,000,000 or $6.34 per share. The purchase
price represents an approximate 2% discount to the 30 day average trading
price of Cal Dive's Common Stock as of January 16, 2009. Helix
closed the transaction on January 28, 2009. Helix will use the proceeds of
the sale for general corporate purposes.  Prior to the completion of the
transaction, the Company owned approximately 57.2% of Cal Dive's common
stock. After the consummation of this transaction Helix will own 47,942,022 of
the 93,946,409 shares of Cal Dive common stock outstanding such that Helix
maintains approximately a 51% ownership interest in Cal Dive.
The description of
the provisions of the Agreement are qualified in their entirety by reference to
the full and complete terms of the Agreement, which is attached hereto as
Exhibit 10.1 and is incorporated by reference herein.
        .
Item 3.02 Unregistered
Shares of Equity Securities.
On January 23,
2009, Fletcher International, Ltd. elected to redeem 30,000 shares of its
Series A-2 Cumulative Convertible Preferred Stock (the "Preferred
Stock") in exchange for 5,938,776 shares of the Company's common
stock. The redemption was completed, and the shares of common stock issued, on
January 27, 2009. The Preferred Stock had been previously issued to
Fletcher International, Ltd. and, in accordance with the terms of such series,
was convertible and redeemable by the holder of such shares. The shares of
Preferred Stock being redeemed by Fletcher International, Ltd, constitute all
of the issued and outstanding shares of such series of Preferred Stock. The
common stock issued to Fletcher International, Ltd. upon the redemption of the
preferred stock was registered pursuant to an effective registration statement
filed with the Securities and Exchange Commission. Fletcher International, Ltd.
is also the holder of the Company's Series A-1 Cumulative
Convertible Preferred Stock.
The issuance
described above was made based on an
exemption from registration under the Securities Act of 1933, as
amended (the "Securities Act"), pursuant to
 Section 3(a)(9)  of the Securities  Act and applicable
state laws. This issuance qualified for this exemption from registration
because it was an exchange by the issuer with an existing security holder
exclusively where no commission or other remuneration was paid or given
directly or indirectly for soliciting such exchange.
Item 7.01 Regulation FD
Disclosure.
On January 25,
2009, Helix issued a press release containing information related to the sale
of shares to Cal Dive. Attached hereto as Exhibit 99.1, and incorporated
by reference herein, is that press release.
On January 26,
2009, Helix issued a press release containing information related to the
redemption of its Series A-2 Cumulative Convertible Preferred Stock. Attached
hereto as Exhibit 99.2, and incorporated by reference herein, is that
press release.
This information is
not deemed to be "filed" for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended ("Exchange Act"), or
otherwise subject to the liabilities of that section, and such information is
not incorporated by reference into any registration statements or other
document filed under the Securities Act of 1933, as amended ("Securities
Act"), or the Exchange Act, regardless of the general incorporation
language contained in such filing, except as shall be expressly set forth by
specific reference to this filing.
Item 9.01 Financial
Statements and Exhibits.
(c)
Exhibits.
Number
Description
10.1
Stock Repurchase Agreement by and between
Helix Energy Solutions Group, Inc. and Cal Dive International Inc.
99.1
Press Release of Helix Energy Solutions Group,
Inc. dated January 25, 2009 regarding the sale of stock to Cal Dive
International Inc.
99.2
Press Release of Helix Energy Solutions Group,
Inc. dated January 26, 2009 regarding the redemption of its
Series A-2 Cumulative Convertible Preferred Stock.
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: January 28, 2009
HELIX ENERGY SOLUTIONS GROUP, INC.
By:
/s/ Anthony Tripodo
Anthony Tripodo
Executive Vice President and Chief Financial Officer
Index to Exhibits
Exhibit No.
Description
10.1
Stock Repurchase Agreement by and between
Helix Energy Solutions Group, Inc. and Cal Dive International Inc.
99.1
Press Release of Helix Energy Solutions Group,
Inc. dated January 25, 2009 regarding the sale of stock to Cal Dive
International Inc.
99.2
Press Release of Helix Energy Solutions Group,
Inc. dated January 26, 2009 regarding the redemption of its
Series A-2 Cumulative Convertible Preferred Stock.