QUOTE AND NEWS
Motley Fool  Jul 20  Comment 
The bar is so low that meeting expectations deserves a round of applause.
OilVoice  Jul 20  Comment 
Helix Energy Solutions Group Inc. NYSE HLX reported a net loss of 10.7 million or 0.10 per diluted share for the second quarter of 2016 compared to a net loss of 2.6 million or 0.03 per
OilVoice  Jun 6  Comment 
Helix Energy Solutions Group Inc. NYSE HLX announced today that it has completed its contract renegotiations with Petroacuteleo Brasileiro S.A. and has entered into amendments to its well interv
Motley Fool  Apr 20  Comment 
Earnings, offerings, and production reports also helped fuel big gains in Callon Petroleum, Helix Energy Solutions, Sanchez Energy, and Calumet Specialty Products Partners today.
Benzinga  Apr 12  Comment 
Credit Suisse’s Gregory Lewis believes that well intervention is an effective means of boosting volumes and slowing the decline in rates of old wells. The analyst upgraded the rating for Helix Energy Solutions Group Inc (NYSE: HLX) from Neutral...
Motley Fool  Apr 5  Comment 
Better-than-expected earnings leading up to the month, a little love from oil prices, and an analyst upgrade combined to give Helix's shares a hefty boost last month.




 

Helix Energy Solutions (NYSE:HLX) is an oilfield services company that builds, maintains and maximizes the output from offshore oil and gas reservoirs.

Company Overview

Helix Energy Solutions operates primarily in the United States and, more specifically, the Gulf of Mexico Region.

Business and Financial Metrics[1]

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.

Business Segments[2]

Helix Energy operates through three reportable business segments.

  • Contracting Services (54.5% of revenues): This segment builds, manages and repairs oil and gas reservoirs that are "marginal" i.e. no longer wanted by or too small to be material to larger corporations.[3] Some of the segment's other services include exploration, modeling and inspection of potential future reservoirs and the decommissioning of abandoned pipes and platforms.[4]
  • Shelf Contracting (27.7% of revenues): This segment focuses on diving related-activities and shallow water construction.[5]
  • Oil and Gas Operations (26.4% of revenues): This segment purchases and maintains oil and gas properties for the company.[6]

Trends and Forces

67% of the company's proved reserves are undeveloped

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.[7]

Competition

There are more than 90 publicly traded energy companies focusing on oil wells, drilling, exploration and drilling equipment.[8] Of these companies, the following have been identified as competitors by Helix Energy Solutions.

References

  1. HLX 2009 10-K pg. 43  
  2. HLX 2009 10-K pg. 49  
  3. Page 4, 2008 HLX 10-K, Business, Helix Energy Solutions
  4. Page 9, 2008 HLX 10-K, Business, Helix Energy Solutions
  5. HLX 2009 10-K pg. 48  
  6. Page 78, 2008 HLX 10-K, Notes to the Consolidated Financial Statements, Helix Energy Solutions
  7. Natural Gas Resource Base, Natural Gas Supply Association
  8. Oil Well Services & Equipment, Google Finance
  9. Global Industries, Google Finance
  10. Oceaneering International, Google Finance
  11. ACGY Acergy S.A., Google Finance
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