Welcome to our dedicated page for Helix Energy Solutions Grp news (Ticker: HLX), a resource for investors and traders seeking the latest updates and insights on Helix Energy Solutions Grp stock.
Helix Energy Solutions Group Inc. (HLX) delivers specialized offshore energy services through advanced well intervention and robotics operations. This news hub provides investors and industry professionals with timely updates on corporate developments, strategic initiatives, and operational milestones.
Access authoritative coverage of HLX's activities across core service areas including subsea robotics deployments, well intervention projects, and offshore decommissioning operations. Our curated news collection features earnings announcements, partnership agreements, regulatory filings, and technology innovations directly from verified sources.
Key updates include developments in HLX's global operations across the Gulf of Mexico, North Sea, and West Africa. Track the company's progress in integrating robotic solutions with traditional offshore expertise to address complex energy challenges.
Bookmark this page for streamlined access to HLX's latest press releases and market-moving updates. Check back regularly for comprehensive coverage of this offshore energy services leader.
Helix Energy Solutions Group (NYSE: HLX) has secured new three-year vessel charter and service contracts with Petrobras for its riser-based well intervention vessels, Siem Helix 1 and Siem Helix 2, operating offshore Brazil. The contracts, valued at an estimated $786 million, include options for an additional three years each. These agreements follow a competitive tender process and build upon Helix's seven-year working relationship with Petrobras.
The Siem Helix 2 has been working for Petrobras since 2017, completing over 100 well interventions in the Santos and Campos Basins. The Siem Helix 1 previously worked for Petrobras from April 2017 to July 2021, completing 74 well interventions in the same basins. Both vessels are advanced, purpose-built well intervention vessels capable of performing various subsea services.
Helix Energy Solutions Group (NYSE: HLX) has announced its participation in three upcoming industry events in September 2024:
- Barclays' CEO Energy-Power Conference in New York on September 4
- NYSE Energy & Utilities Virtual Investor Day on September 10
- Pickering Energy Partners Energy Conference in Austin on September 18
Investor presentations from these events will be accessible on Helix's website. Helix, headquartered in Houston, Texas, is an international offshore energy services company specializing in well intervention, robotics, and decommissioning operations. The company plays a important role in supporting the global energy transition by maximizing production from existing oil and gas reserves, decommissioning end-of-life fields, and supporting renewable energy developments.
Helix Energy Solutions Group, Inc. (NYSE: HLX) has amended its asset-based revolving credit facility (ABL Facility). The key changes include:
1. Extension of the term from September 30, 2026 to August 2, 2029, subject to earlier senior debt maturities.
2. Increase in the letter of credit basket size from $20 million to $55 million.
Erik Staffeldt, Executive VP and CFO, stated that the amendment provides financial flexibility for operational bonding requirements, including an upcoming campaign in Nigeria on the Q4000. The extension aligns with Helix's simplified capital structure, with no significant debt maturities until 2029. Bank of America, N.A. continues as the Administrative Agent for the ABL Facility.
Helix Energy Solutions Group (NYSE: HLX) reported strong Q2 2024 results with a net income of $32.3 million ($0.21 per diluted share), a significant improvement from a net loss of $26.3 million in Q1 2024 and higher than net income of $7.1 million in Q2 2023. Adjusted EBITDA rose to $96.9 million from $47.0 million in Q1 2024. Revenue increased to $364.8 million, a 22% rise from Q1 2024. The Well Intervention segment saw a 4% revenue increase QoQ, while Robotics revenues grew by 61% due to higher vessel and trenching activities. Shallow Water Abandonment improved but remains soft. Free Cash Flow was $(16.2) million, impacted by a $58.3 million earn-out payment. Operating cash flows were $(12.2) million, with higher earnings offset by working capital outflows. Cash and cash equivalents stood at $275.1 million with total liquidity of $370.1 million. Long-term debt was $318.6 million, with net debt at $43.6 million.
Helix Energy Solutions Group (NYSE: HLX) is set to release its second quarter 2024 financial results on Wednesday, July 24, 2024, after the market closes. The results and an associated presentation will be available on the company's website. Helix will also host a teleconference and webcast to discuss the results on Thursday, July 25, 2024, at 9:00 a.m. Central Time. U.S. participants can dial 1-800-715-9871, while international participants can dial 1-646-307-1963, using the passcode 'Staffeldt'. A live and replay webcast of the call will be accessible on the Helix website.
Helix Energy Solutions Group, based in Houston, is an international offshore energy services company specializing in well intervention, robotics, and decommissioning operations. The company's services support the global energy transition by maximizing oil and gas production, decommissioning end-of-life fields, and aiding renewable energy initiatives.
