Helix Energy Solutions operates primarily in the United States and, more specifically, the Gulf of Mexico Region.
In 2009, HLX generated a net income of $101.9 million on revenues of $1.46 billion. This represents a real turnaround from 2008, when the company incurred a net loss of $639.1 million on revenues of $2.11 billion.
Helix Energy operates through three reportable business segments.
Depending on the level of certainty associated with recovering oil and natural gas, reservoirs can be classified as either proved or unproved. Proved reserves can be further classified as proved developed non-producing (PDNP) or proved undeveloped (PUD). PDNP reserves have had enough work done to ready them for drilling, but no oil or gas has been extracted yet. PUD reserves have had no work done on them, but predictions about the amount of oil and natural gas in these reserves are assumed to be relatively accurate.
There are more than 90 publicly traded energy companies focusing on oil wells, drilling, exploration and drilling equipment. Of these companies, the following have been identified as competitors by Helix Energy Solutions.