SEC Form 4 
FORM 4	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 	  
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	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).			
1. Name and Address of Reporting Person*
EINHORN DAVID	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	2. Issuer Name and Ticker or Trading Symbol 
HELIX ENERGY SOLUTIONS GROUP INC [ HLX ] 	5. Relationship of Reporting Person(s) to Issuer 
(Check all applicable) 
	Director	X	10% Owner	
	Officer (give title below)		Other (specify below)	

	3. Date of Earliest Transaction (Month/Day/Year)
09/10/2008 		
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) 
	Form filed by One Reporting Person	
X	Form filed by More than One Reporting Person	
	
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	
1. Title of Security (Instr. 3) 	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8) 	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 	5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 	7. Nature of Indirect Beneficial Ownership (Instr. 4) 	
			Code	V	Amount	(A) or (D)	Price				
Common Stock, no par value	09/10/2008		P		32,100	A	$27.0556 	834,954(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/10/2008		P		8,900	A	$27.0307 	843,854(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/10/2008		P		50,800	A	$26.8762 	894,654(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/11/2008		P		18,100	A	$26.9208 	912,754(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/11/2008		P		48,100	A	$26.7585 	960,854(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/11/2008		P		14,100	A	$26.4342 	974,954(1)(2) 	I	See Footnote(3) 	
Common Stock, no par value	09/10/2008		P		135,900	A	$27.0556 	3,531,293(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/10/2008		P		38,100	A	$27.0307 	3,569,393(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/10/2008		P		215,207	A	$26.8762 	3,784,600(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/11/2008		P		77,000	A	$26.9208 	3,861,600(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/11/2008		P		203,800	A	$26.7585 	4,065,400(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/11/2008		P		60,000	A	$26.4342 	4,125,400(1)(2) 	I	See Footnote(4) 	
Common Stock, no par value	09/10/2008		P		59,000	A	$27.0556 	1,534,001(1)(2) 	I	See Footnote(5) 	
Common Stock, no par value	09/10/2008		P		16,500	A	$27.0307 	1,550,501(1)(2) 	I	See Footnote(5) 	
Common Stock, no par value	09/10/2008		P		93,400	A	$26.8762 	1,643,901(1)(2) 	I	See Footnote(5) 	
Common Stock, no par value	09/11/2008		P		33,400	A	$26.9208 	1,677,301(1)(2) 	I	See Footnote(5) 	
Common Stock, no par value	09/11/2008		P		88,400	A	$26.7585 	1,765,701(1)(2) 	I	See Footnote(5) 	
Common Stock, no par value	09/11/2008		P		25,900	A	$26.4342 	1,791,601(1)(2) 	I	See Footnote(5) 	
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities) 	
1. Title of Derivative Security (Instr. 3) 	2. Conversion or Exercise Price of Derivative Security 	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8) 	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 	6. Date Exercisable and Expiration Date (Month/Day/Year)	7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 	8. Price of Derivative Security (Instr. 5) 	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 	11. Nature of Indirect Beneficial Ownership (Instr. 4) 	
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares					
1. Name and Address of Reporting Person*
EINHORN DAVID	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	
1. Name and Address of Reporting Person*
GREENLIGHT CAPITAL LLC	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	
1. Name and Address of Reporting Person*
GREENLIGHT CAPITAL INC	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	
1. Name and Address of Reporting Person*
DME Advisors, LP	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	
1. Name and Address of Reporting Person*
DME Advisors GP, L.L.C.	

(Last)	(First)	(Middle)	
140 EAST 45TH STREET	
24TH FLOOR	

(Street) 
NEW YORK	NY	10017	

(City)	(State)	(Zip)	
	
Explanation of Responses:	
1. The filing of this Form 4 shall not be construed as an admission that David Einhorn, the senior managing member of Greenlight Capital, L.L.C. ("Greenlight LLC") and DME Advisors GP, LLC ("DME GP") and the president of Greenlight Capital, Inc. ("Greenlight Inc."), or any of Greenlight LLC, Greenlight Inc., DME GP or DME Advisors, LP ("DME") is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any of the shares of common stock, no par value (the "Common Stock") of Helix Energy Solutions Group, Inc. ("Issuer"), owned by Greenlight Capital, L.P. ("Greenlight Fund"), Greenlight Capital Qualified, L.P. ("Greenlight Qualified"), Greenlight Capital Offshore, Ltd. ("Greenlight Offshore") or an account managed by DME (the "Managed Account").	
2. Pursuant to Rule 16a-1, each of Mr. Einhorn, Greenlight LLC, Greenlight Inc., DME GP and DME disclaims beneficial ownership except to the extent of their respective pecuniary interests.	
3. Greenlight LLC controls the voting and disposition of these shares of Common Stock through the account of Greenlight Fund, of which Greenlight LLC is the general partner. Greenlight LLC receives an allocation of net profits from and owns a partnership interest in Greenlight Fund. Mr. Einhorn reports the shares held indirectly by Greenlight LLC because, as the senior managing member of Greenlight LLC at the time of purchase, Mr. Einhorn controlled the disposition and voting of the securities. Additionally, Mr. Einhorn owns a limited partnership interest in Greenlight Fund	
4. Greenlight LLC controls the voting and disposition of these shares of Common Stock through the account of Greenlight Qualified, of which Greenlight LLC is the general partner. Greenlight LLC receives an allocation of net profits from and owns a partnership interest in Greenlight Qualified. Mr. Einhorn reports the shares held indirectly by Greenlight LLC because, as the senior managing member of Greenlight LLC at the time of purchase, Mr. Einhorn controlled the disposition and voting of the securities	
5. DME controls the voting and disposition of these shares of Common Stock through the Managed Account, for which DME serves as the investment manager. DME receives an asset-based fee and an allocation of net profit from the Managed Account. Mr. Einhorn reports the shares held indirectly by the Managed Account because, as senior managing member of DME GP, the general partner of DME, at the time of purchase, Mr. Einhorn controlled the disposition and voting of the securities.	
	/s/ Daniel Roitman, on behalf of David Einhorn	09/12/2008	
	/s/ Daniel Roitman, Chief Operating Officer of Greenlight Capital, L.L.C.	09/12/2008	
	/s/ Daniel Roitman, Chief Operating Officer of Greenlight Capital, Inc.	09/12/2008	
	/s/ Daniel Roitman, Chief Operating Officer of DME Advisors GP, L.L.C., General Partner of DME Advisors, L.P.	09/12/2008	
	/s/ Daniel Roitman, Chief Operating Officer of DME Advisors GP, L.L.C.	09/12/2008	
	** Signature of Reporting Person	Date	
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).	
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
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