Shares of Helix Energy Solutions (HLX) - Get Helix Energy Solutions Group, Inc. Report were jumping nearly 10% during Monday afternoon trading as the American oil and gas services company is said to be exploring strategic alternatives.

The Houston-based offshore energy firm is said to be working with bankers regarding its possible sale, the Wall Street Journal first reported.

Shares of Helix Energy have sunk over 20% year-to-date. The company most recently reported a net loss of $6.4 million and revenue of $150.3 million for its second-quarter.

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Helix, which boasts a market cap of about $1 billion, is the world's principal contractor for live-well intervention, a method which has helped to establish the company as one of the industry's solutions for containing possible future subsea oil spills.

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