Helix Announces Long-Term Agreement in the Gulf of Mexico
Helix Energy Solutions Group (NYSE: HLX) has secured a new multi-year contract with Shell Offshore Inc for well intervention services in the U.S. Gulf of Mexico, starting in 2025. The agreement includes an increased minimum number of annual days for the Q5000 riser-based well intervention vessel, along with Intervention Riser Systems, ROVs, and comprehensive project management services.
This contract covers a range of operations from production enhancement to plug and abandonment well services. It also incorporates equipment from the Subsea Services Alliance, a collaboration between Helix and SLB. Helix's Executive VP and COO, Scotty Sparks, highlighted that this agreement reflects improving market conditions and increased demand for Helix's assets and services in the offshore energy industry.
Il Gruppo Helix Energy Solutions (NYSE: HLX) ha ottenuto un nuovo contratto pluriennale con Shell Offshore Inc per servizi di intervento sui pozzi nel Golfo del Messico, con inizio nel 2025. L'accordo prevede un aumento del numero minimo di giorni annuali per la nave da intervento Q5000, insieme ai Sistemi di Intervento Riser, ROV e servizi di gestione dei progetti completi.
Questo contratto copre una gamma di operazioni che spaziano dal potenziamento della produzione ai servizi di chiusura e abbandono dei pozzi. Includerà anche attrezzature dell'Alleanza Servizi Subacquei, una collaborazione tra Helix e SLB. Scotty Sparks, Vicepresidente Esecutivo e COO di Helix, ha sottolineato che questo accordo riflette le condizioni di mercato in miglioramento e la crescente domanda per le risorse e i servizi di Helix nel settore energetico offshore.
El Grupo Helix Energy Solutions (NYSE: HLX) ha conseguido un nuevo contrato de varios años con Shell Offshore Inc para servicios de intervención de pozos en el Golfo de México, que comenzará en 2025. El acuerdo incluye un aumento en el número mínimo de días anuales para el barco de intervención Q5000, junto con Sistemas de Riser de Intervención, ROV y servicios integrales de gestión de proyectos.
Este contrato abarca una variedad de operaciones que van desde mejoras en la producción hasta servicios de sellado y abandono de pozos. También incorpora equipos de la Alianza de Servicios Submarinos, una colaboración entre Helix y SLB. Scotty Sparks, Vicepresidente Ejecutivo y COO de Helix, destacó que este acuerdo refleja las mejoras en las condiciones del mercado y el aumento de la demanda por los activos y servicios de Helix en la industria energética offshore.
헬릭스 에너지 솔루션 그룹 (NYSE: HLX)은 2025년부터 시작되는 미국 멕시코 만에서의 웰 인터벤션 서비스에 대해 셸 오프쇼어 주식회사와 새로운 다년 계약을 체결했습니다. 이 계약에는 Q5000 리저 기반 웰 인터벤션 선박을 위한 연간 최소 일수 증가가 포함되어 있으며, 인터벤션 리저 시스템, ROV 및 종합 프로젝트 관리 서비스도 포함됩니다.
이 계약은 생산 향상부터 플러그 및 폐기 웰 서비스에 이르는 다양한 작업을 포함합니다. 또한 헬릭스와 SLB 간의 협업인 수중 서비스 동맹의 장비도 포함됩니다. 헬릭스의 수석 부사장 겸 COO인 스카티 스팍스는 이 계약이 개선되고 있는 시장 상황과 헬릭스 자산 및 서비스에 대한 수요 증가를 반영한다고 강조했습니다.
Le Groupe Helix Energy Solutions (NYSE: HLX) a obtenu un nouveau contrat pluriannuel avec Shell Offshore Inc pour des services d'intervention sur les puits dans le Golfe du Mexique, à partir de 2025. L'accord comprend un nombre minimum de jours annuels augmenté pour le navire d'intervention basé sur le riser Q5000, ainsi que des systèmes de riser d'intervention, des ROV et des services de gestion de projet complets.
Ce contrat couvre une gamme d'opérations allant de l'amélioration de la production aux services de colmatage et d'abandon des puits. Il intègre également du matériel de l'Alliance des Services Sous-Marins, une collaboration entre Helix et SLB. Scotty Sparks, Vice-Président Exécutif et COO de Helix, a souligné que cet accord reflète l'amélioration des conditions du marché et l'augmentation de la demande pour les actifs et les services de Helix dans le secteur de l'énergie offshore.
Die Helix Energy Solutions Group (NYSE: HLX) hat einen neuen mehrjährigen Vertrag mit Shell Offshore Inc über Brunneninterventionsdienste im Golf von Mexiko gesichert, der 2025 beginnt. Die Vereinbarung umfasst eine Erhöhung der Mindestanzahl an jährlichen Tagen für das riserbasierte Interventionsschiff Q5000 sowie Interventions-Riser-Systeme, ROVs und umfassende Projektmanagementdienste.
Dieser Vertrag umfasst eine Reihe von Operationen, die von Produktionssteigerung bis hin zu Plug- und Abbrucharbeiten reichen. Er umfasst auch Ausrüstung von der Subsea Services Alliance, einer Zusammenarbeit zwischen Helix und SLB. Scotty Sparks, Executive VP und COO von Helix, betonte, dass diese Vereinbarung die verbessernden Marktbedingungen und die steigende Nachfrage nach Helix‘ Vermögenswerten und Dienstleistungen in der Offshore-Energiewirtschaft widerspiegelt.
- Secured multi-year contract with Shell Offshore Inc for well intervention services
- Increased minimum number of annual days for Q5000 vessel utilization
- Contract covers comprehensive range of services from production enhancement to plug and abandonment
- Reflects improving market conditions and increased demand for Helix's services
- None.
Insights
Helix Energy Solutions Group's new multi-year contract with Shell Offshore Inc. is a positive development for the company's financial outlook. The agreement, starting in 2025, promises an increased minimum number of annual service days, which should translate to more stable and predictable revenue streams. This long-term commitment from a major player like Shell validates Helix's market position and could potentially improve investor confidence.
The contract's focus on fully integrated operations, from production enhancement to decommissioning, aligns well with the growing demand for comprehensive offshore energy services. This could lead to improved utilization rates for Helix's assets, particularly the Q5000 vessel, potentially driving higher profit margins. However, investors should note that the financial impact won't be immediate, as the contract begins in 2025, leaving room for market conditions to change in the interim.
This agreement signifies a notable shift in the offshore energy services market. The long-term nature of the contract suggests that major oil companies like Shell are planning for extended operations in the Gulf of Mexico, despite the global push towards renewable energy. It's particularly interesting that the contract covers both production enhancement and decommissioning services, indicating a balanced approach to maximizing existing reserves while preparing for future field closures.
The mention of the Subsea Services Alliance, combining Helix's capabilities with SLB (formerly Schlumberger), highlights the increasing importance of integrated service offerings in the offshore sector. This trend towards comprehensive solutions could potentially raise barriers to entry for smaller, specialized service providers, further consolidating Helix's market position. The contract also underscores the growing focus on efficient and environmentally responsible offshore operations, which aligns with the broader energy transition narrative.
Helix's new contract with Shell is indicative of a recovering offshore services market. The company's statement about "improving market conditions and increased demand" for its assets and services suggests a potential upturn in the sector. This could signal positive momentum for other players in the offshore energy services industry.
The contract's emphasis on well intervention and decommissioning services aligns with the dual trends of maximizing production from existing fields and responsibly managing end-of-life assets. This balanced approach could position Helix favorably in a market that's navigating the complexities of energy transition. Investors should watch for similar long-term commitments from other major oil companies, which could indicate a broader industry trend and potentially impact stock valuations across the sector. However, it's important to consider that the contract's 2025 start date means that current market dynamics may shift significantly before its commencement.
Commitment affirms Helix’s strength as a market-leading global well intervention and decommissioning services provider
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, stated, “We are pleased to announce that Helix has successfully executed a long-term contract with Shell, a valued customer we have safely worked with on numerous projects around the world and with whom we look forward to continuing our excellent relationship. The contract is reflective of improving market conditions and increased demand for Helix’s assets and services, as we continue executing on our strategy by providing best-in-class and global leading well intervention services.”
About Helix
Helix Energy Solutions Group, Inc., headquartered in
About Subsea Services Alliance
For more information about the Subsea Services Alliance, please visit its website at www.subseaservicesalliance.com.
Forward-Looking Statements
This press release 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 contract, the work and/or initiatives thereunder and the parties thereto; the current market or demand for our services; our ability to enter into, renew and/or perform commercial contracts; our current work continuing; and any impact on our financial and operating results and estimates; any statements regarding our strategy; any statements regarding our business model or the global energy transition; and any statements of assumptions underlying any of the foregoing. The 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 terms of the contract and/or any work thereunder or extension thereof; actions by governments, customers, suppliers and partners; market conditions; demand for our services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which includes delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; our ultimate ability to realize current backlog; employee 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 (the “SEC”), including Helix’s most recently filed Annual Report on Form 10-K and in Helix’s 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 the securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903702651/en/
Erik Staffeldt, Executive Vice President and CFO
email: estaffeldt@helixesg.com
Ph: 281-618-0465
Source: Helix Energy Solutions Group, Inc.
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