NOVEMBER 16, 2022
Helix Energy Solutions
Bank of America Securities
2022 Global Energy
Conference
FORWARD-LOOKING STATEMENTS
References in this presentation to "our" or "Helix" means Helix Energy Solutions Group, Inc., together with our subsidiaries. References in this presentation to "Alliance" means Helix Alliance Decom, LLC, a wholly-owned subsidiary of Helix. This presentation contains forward- looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the COVID-19 pandemic and oil price volatility and their respective effects and results, our protocols and plans, our current work continuing, the spot market, our ability to identify, effect, and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; any statements regarding the Thunder Hawk transaction; our spending and cost reduction plans and our ability to manage changes; our strategy; any statements regarding visibility and future utilization; any projections of financial items including projections as to guidance and other outlook information; any statements regarding future operations expenditures; any statements regarding our plans, strategies and objectives for future operations; any statements regarding our ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding our environmental, social and governance ("ESG") initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ability to secure and realize backlog; the effectiveness of our ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in our reports filed with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.
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HELIX COMPANY OVERVIEW
Helix Energy Solutions provides specialty services to the offshore energy industry with a focus on well intervention and robotics operations. Our services are centered toward and well positioned to facilitate global energy transition by maximizing production of remaining oil and gas reserves, decommissioning end-of-life oil and gas fields, and supporting renewable energy developments
- Oil & Gas services cover the lifecycle of a field and are critical to maximizing production economics and safely decommissioning end-of-lifewells and infrastructure
- Expanding Renewables services where we currently offer trenching, site clearance and subsea support
- Expansion into full-field shallow water decommissioning in the Gulf of Mexico with the Alliance acquisition on July 1, 2022
Four reportable business segments: Well Intervention, Robotics, Production Facilities and Shallow Water Abandonment
Liquidity1 of $244 million, net debt2 of $99 million and contract backlog of $758 million as of September 30, 2022
Subsea Services Alliance with Schlumberger provides integrated equipment and services for subsea well intervention
Business Mix (Year ended December 31, 2021)
Revenue3
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10% |
Well Intervention |
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19% $723 |
Robotics |
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million |
Production Facilities |
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71% |
Shallow Water Abandonment5 |
|
1 |
Liquidity is calculated as the sum of cash and cash equivalents plus available capacity under the Company's ABL |
|
|
facility and excludes restricted cash, if any |
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2 |
Net debt is calculated as long-term debt, including current maturities of long-term debt, less cash and cash |
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equivalents and restricted cash |
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3 |
Percentages exclude eliminations |
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4 As of September 30, 2022 |
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3 |
5 |
Shallow Water Abandonment will include the results of Helix Alliance beginning July 1, 2022 (date of acquisition) |
Global Operations4
2,219 Helix employees worldwide primarily operating in the Gulf of Mexico (including Helix Alliance), Brazil, North Sea, Asia Pacific and West Africa regions
|
7 |
Well Intervention |
4 |
ROV Support |
40 |
Remotely Operated |
|
|
Vessels |
Vessels |
Vehicles (ROV) |
||||
|
Seven dedicated well |
Four ROV support vessels |
40 work class ROVs |
||||
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intervention vessels |
on term charters |
|||||
|
10 |
Intervention |
6 |
Robotics Assets |
5 |
Regional Offices |
|
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Systems |
Four trenching systems, |
Houston, Texas, USA (HQ) |
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Six intervention riser |
one boulder grab and |
Aberdeen, United Kingdom |
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one ROVDrill system |
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systems, three subsea |
Rio de Janeiro, Brazil |
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intervention lubricators, |
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Singapore |
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and one riserless |
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openwater abandonment |
Houma, Louisiana |
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module |
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Shallow Water Abandonment |
21 |
Shallow Water Abandonment |
||||
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Vessels |
||||||
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20 Systems |
||||||
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Ten liftboats, six OSV's, three diving |
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14 Marketable P&A systems and six |
vessels, one heavy lift barge and one |
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coiled tubing systems |
crew boat |
HELIX COMPANY OVERVIEW
- World's leading provider of both well intervention and subsea robotics technologies to offshore energy industry
- Our core offerings represent sustainable solutions for Energy Transition
- Our ability to help our customers achieve ESG successes provides long-term value to Helix shareholders
- Pioneer and established leading provider of well intervention solutions with a competitive advantage
- Track record of 1,631 subsea wells1 and over 30 years of global experience
- Large and growing addressable market in both well intervention (including production enhancement and decommissioning) and
1 Does not include Helix Alliance
robotics
- Industry-leading,built-for-purpose fleet that can be mobilized worldwide
- Experienced and highly skilled workforce
- Strong robotics franchise with deepwater ROV track record in oil & gas, renewable energy and specialty services that spans over 25 years
- Strong culture of innovation, with best-in-class operations and technology portfolio
- Core Health, Safety and Environment (HSE) values with proven track record
- Comprehensive array of solutions offered via strategic alliance with Schlumberger
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ENERGY TRANSITION
The three legs to our model establish Helix as a meaningful Energy Transition company with significant potential:
Maximizing Remaining Reserves
- Production Enhancement - continue assisting oil and gas producers maximize the recovery of existing fields, mitigating need for new drilling, using our methodologies and purpose-built assets
- Alternative solutions - extending end-of-life fields prior to our provision of abandonment solutions
Abandonment and Decommissioning
- Historical success as full-field abandonment contractor
- Expansion into Gulf of Mexico shallow water full-field abandonment with Alliance acquisition in 2022
- Believe regulators' renewed push for accelerated plug and abandonment (P&A) will accelerate growth of abandonment
Offshore Renewables and Wind Farms
- Cable trenching and site preparation services, with opportunities to expand
- Ability to offer further specialty support services and geographic expansion
Maximizing Remaining Reserves
Abandonment and Decommissioning
Offshore
Renewables and
Wind Farms
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Helix Energy Solutions Group Inc. published this content on 15 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2022 13:59:16 UTC.
