March 2023
Helix Energy Solutions
Piper Sandler 23rd Annual Energy 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 share repurchase authorization or program; 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; our spending and cost management efforts and our ability to manage changes; our strategy; visibility and future utilization; energy transition or energy security; any projections of financial items including projections as to guidance and other outlook information; future operations expenditures; our plans, strategies and objectives for future operations; 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 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 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.
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2 |
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
- The Helix business model has been to focus on the late life cycle of oil and gas and support of renewables growth. This is not a pivot; continues to be our business model
- 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; major capital investment in fleet is complete for the foreseeable market
- Non-rigintervention is faster, lower cost and largely accomplishes the same work as a rig with a lower carbon footprint
- Track record 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
- Strong expected cash flow generation with relatively low capex requirement and low debt levels in the near-term
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4 |
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ABOUT US
Company Overview
Four reportable business segments: Well Intervention, Robotics, Shallow Water Abandonment and Production Facilities
Liquidity1 of $285 million, net debt2 of $75 million and contract backlog of $847 million as of December 31, 2022 Subsea Services Alliance with SLB provides integrated equipment and services for subsea well intervention
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Revenue by Segment |
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2022 |
20233 |
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10% |
7% |
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14% |
19% |
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$873 |
Revenue by Market5
202220233
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3% |
1% |
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10% |
12% |
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million |
$1,020 - $1,200 |
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million |
52%
44%
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58% |
58% |
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18% |
16% |
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Well Intervention |
Shallow Water Abandonment4 |
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Robotics |
Production Facilities |
35%
43%
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Production Maximization |
Renewables |
DecommissioningOther
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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
2 Net Debt is a non-GAAP financial measure; see non-GAAP reconciliations below 3 Revenue based on 2023 Forecasted Outlook
4 Shallow Water Abandonment includes the results of Helix Alliance beginning July 1, 2022 (date of acquisition)
- 5 Revenue percentages net of intercompany eliminations
Attachments
Disclaimer
Helix Energy Solutions Group Inc. published this content on 20 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2023 12:58:07 UTC.
