Jefferies & Co. analyst Stephen Gengaro said activity levels in Helix's contracting services business ''should start to rebound in the second half of 2010 as customer inquiries have increased and Helix redeploys vessels away from internal use to third-party contract work,'' according to Forbes.

Texas-based Helix (HLX) did not set a timetable for its latest divestment. No possible buyers were directly mentioned in press reports covering the news. Helix had 2009 revenue of $1.46 billion. The shares have more than tripled in the past 52 weeks.

Helix provides contract services to oil and gas firms operating in the Gulf of Mexico, Asia, the North Sea and Africa. As of December 31, 2009, it had 578 billion cubic feet equivalent of estimated proved reserves. The company said it is talking with advisers for assistance on the divestment, but no names were disclosed.