September 2023
Helix Energy Solutions
Barclays' CEO Energy-Power Conference
INTRODUCTION
Forward-Looking Statements
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: our plans, strategies and objectives for future operations; visibility and future utilization; energy transition or energy security; any projections of financial items including projections as to guidance and other outlook information; our share repurchase authorization or program; our ability to identify, effect and integrate acquisitions, joint ventures or other transactions, including the integration of the Alliance acquisition; oil price volatility and its effects and results; our protocols and plans; our current work continuing; the spot market; our spending and cost management efforts and our ability to manage changes; future operations expenditures; our ability to enter into, renew and/or perform commercial contracts; developments; our environmental, social and governance ("ESG") initiatives; 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 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 filings with the Securities and Exchange Commission ("SEC"), including our most recently filed Annual Report on Form 10-K, 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.
2
At Helix, our purpose
is to enable energy transition through:
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Maximizing Existing |
Lowering Decommissioning |
Offshore Renewables & |
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Reserves |
Costs |
Wind Farms |
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Enhancing remaining production |
Restoring the seabed in an |
Transitioning our energy economy |
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from existing oil and gas wells |
environmentally safe manner |
to a sustainable model |
ABOUT US
Company Overview
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and full field decommissioning operations. Our services are centered on a three-legged business model well positioned for a global energy transition by maximizing production of existing oil and gas reserves, supporting renewable energy developments and decommissioning end-of-life oil and gas fields.
2,474 Helix employees1 worldwide primarily operating in the Gulf of Mexico (including Helix Alliance), Brazil, North Sea, Asia Pacific and West Africa regions
- The Helix business model has been to focus on the late life cycle of oil and gas and support of renewables growth.
- Helix created the drill rig alternative technology and is the only provider of non-rigriser-based well intervention, with built-for-purpose fleet operating globally
- Non-rigintervention largely accomplishes the same work as a rig but is faster, lower cost and has a lower carbon footprint
- Track record of approximately 2,000 subsea wells and over 30 years of global experience
- Industry-leadingsupplier of subsea services, operating state of the art remote operated vehicles (ROVs), seabed trenchers and support vessels
- Large and growing addressable market in both well intervention (including maximizing existing reserves and decommissioning) and robotics support of offshore wind farms
- Leading supplier of full-field decommissioning services to the Gulf of Mexico shelf
- Core Health, Safety and Environment values with proven track record
- Comprehensive array of solutions offered in conjunction with strategic alliance with SLB; continuing innovation and research and development of new technologies
- Expected strong free cash flow generation and low debt levels in the near-term
Well Intervention Vessels
7 Seven dedicated well intervention vessels
Intervention Systems
12 Eight intervention riser systems, three subsea intervention lubricators, and one riserless openwater abandonment module
Shallow Water Abandonment
20 Vessels
Nine liftboats, six OSV's, three diving vessels, one heavy lift barge and one crew boat
ROV Support Vessels
5 Five ROV support vessels on term charters
Robotics Assets
47 Seven trenching systems, one boulder grab and 39 work class ROVs
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21 |
Shallow Water Abandonment Systems |
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15 P&A systems and six coiled tubing |
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systems |
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4 |
1Headcount as of August 17, 2023 |
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5 |
Regional Offices |
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Houston, Texas, USA (HQ) |
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Aberdeen, United Kingdom |
Rio de Janeiro, Brazil
Singapore
Houma, Louisiana
ABOUT US
Company Overview
Four reportable business segments: Well Intervention, Robotics, Shallow Water Abandonment and Production Facilities
Liquidity1 of $285 million, net debt2 of $78 million and contract backlog of $910 million as of June 30, 2023
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Revenue by Secgment5 |
Revenue by Market5 |
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2022 |
20233 |
2022 |
20233 |
||||
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3% |
1% |
||||||
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8% |
|||||||
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10% |
8% |
||||||
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10% |
|||||||
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14% |
22% |
35% |
|||||
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$873 |
|||||||
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$559 |
51% |
52% |
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million |
58% |
million |
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35% |
56% |
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18% |
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19% |
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Well Intervention |
Shallow Water Abandonment4 |
Production Maximization |
Renewables |
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Robotics |
Production Facilities |
Decommissioning |
Other |
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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 a non-GAAP financial measure; see non-GAAP reconciliations below |
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3 |
Revenue by segment and revenue by market based on the six months ended June 30, 2023 |
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4 |
Shallow Water Abandonment includes the results of Helix Alliance beginning July 1, 2022 (date of acquisition) |
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5 |
5 Revenue percentages net of intercompany eliminations |
Attachments
Disclaimer
Helix Energy Solutions Group Inc. published this content on 05 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2023 21:46:22 UTC.
