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Helix Energy Solutions Group, Inc. (symbol: HLX) is a prominent offshore energy services company, with a rich history dating back to the 1960s. Founded by pioneering oilfield divers, the company has been instrumental in advancing the offshore industry. Today, Helix specializes in addressing complex offshore challenges with a fleet of superior vessels that operate in subsea fields across all major producing regions globally.
Helix is renowned for its diversified operations, which include the management of its own offshore oilfields and the laying of thousands of miles of pipelines in the Gulf of Mexico. The company also provides an extensive range of specialized work-class ROVs (Remotely Operated Vehicles), making it a preferred partner for other oil companies worldwide. Additionally, Helix is the leading contractor for live well intervention, a service that has positioned the company as the industry's foremost solution for containing potential subsea oil spills.
Helix’s business is categorized into four primary segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment.
- Well Intervention: This segment includes vessels and equipment used for well intervention services in the Gulf of Mexico, the North Sea, and Brazil. Helix’s expertise in this area is a vital component of its service offerings.
- Robotics: Helix’s robotics operations leverage advanced technology to provide critical support in subsea environments, enhancing operational efficiency and safety.
- Production Facilities: This segment focuses on the management and operation of offshore production facilities, contributing to the company’s robust revenue stream.
- Shallow Water Abandonment: Helix also handles the abandonment of shallow water operations, ensuring environmentally responsible decommissioning of offshore installations.
Helix derives the majority of its revenue from operations in the United States, particularly in the Gulf of Mexico. The company also has significant operations in Brazil, the North Sea, Asia Pacific, and West Africa, reinforcing its position as a global leader in offshore energy services.
The latest news from Helix Energy Solutions Group reflects the company’s ongoing commitment to innovation and operational excellence. Stay updated with Helix’s latest developments and performance metrics, which underscore its industry leadership and future growth potential.
Helix Energy Solutions Group, Inc. (NYSE: HLX) will release its third quarter 2022 results on October 24, 2022, after market close. A review of the results will take place on October 25, 2022, at 9:00 a.m. Central Time via live webcast and teleconference. Investors can access the webcast on Helix's website. The company specializes in offshore energy services, focusing on well intervention and robotics operations. For further details, visit www.HelixESG.com.
Helix Energy Solutions Group (NYSE: HLX) has secured a two-year extension of its well intervention contracts with Petrobras for the Siem Helix 2 vessel, set to conclude in December 2024. This extension follows the current contracts and underscores improving global and Brazilian market conditions. The Siem Helix 2 vessel, which has conducted over 60 well interventions for Petrobras, enhances production and supports Helix's Energy Transition model. The continued partnership emphasizes Helix's capacity for delivering innovative solutions, driven by an experienced team.
Helix Energy Solutions Group's subsidiary, Deepwater Abandonment Alternatives, has acquired a 62.5% interest in the Thunder Hawk Field from MP Gulf of Mexico, LLC. The transaction, effective November 1, 2021, involves minimal cash outlay as Helix assumes abandonment obligations. This acquisition aligns with Helix's Energy Transition model, allowing the company to capitalize on production revenues while managing decommissioning responsibilities. CEO Owen Kratz emphasized the acquisition's strategic significance in extending existing reserves and enhancing revenue opportunities.
Helix Energy Solutions Group, Inc. (NYSE: HLX) will participate in two significant events. The first is Barclays’ CEO Energy-Power Conference on September 7, 2022, in New York City at the Sheraton New York Times Square Hotel. The second is Pickering Energy Partners' Annual Energy Conference, TE&M Fest, on September 15, 2022, in Austin, Texas, at the Austin Marriott Downtown Hotel. Presentations will be made available on Helix's investor page at www.HelixESG.com.
Helix Energy Solutions Group (NYSE: HLX) reported a net loss of $29.7 million for Q2 2022, an improvement from $42.0 million in Q1 2022 but a decline from a $13.7 million loss in Q2 2021. Adjusted EBITDA rose to $16.8 million from $2.5 million in Q1 2022, though it decreased from $24.8 million in Q2 2021. Revenues were $162.6 million, slightly up from $161.9 million a year earlier. The company closed a $120 million acquisition of the Alliance group and expects stronger results in the second half of 2022 due to improved offshore market activity.
Helix Energy Solutions Group, Inc. (NYSE: HLX) will release its second quarter 2022 financial results on July 25, 2022, post-market. A live review is scheduled for July 26, 2022, at 9:00 a.m. Central Time, accessible via webcast and teleconference. Investors can join the teleconference by calling 1-800-786-6956 (US) or 1-212-231-2902 (international) with the passcode 'Staffeldt'. Both the press release and the accompanying presentation will be available on Helix’s website www.HelixESG.com.
Helix Energy Solutions Group, Inc. (NYSE: HLX) announced the acquisition of Alliance group of companies, enhancing its decommissioning offerings in the Gulf of Mexico. This acquisition supports Helix's ESG initiatives and extends its capacity in both shelf and deepwater abandonment services. Additionally, Helix amended its asset-based revolving credit facility, increasing the line to $100 million and linking pricing to sustainability targets. CEO Owen Kratz emphasized the strategic importance of this acquisition for Helix's energy transition efforts.
Helix Energy Solutions Group (NYSE: HLX) has announced its acquisition of the Alliance group for
Helix Energy Solutions Group (NYSE: HLX) reported a net loss of $42.0 million, or $(0.28) per diluted share, for Q1 2022, a significant increase from a $2.9 million loss in Q1 2021. Adjusted EBITDA dropped to $2.5 million from $36.2 million a year ago. Revenues fell to $150.1 million, down 8% from Q4 2021 and 8% year-over-year. While Well Intervention revenues declined by 20% year-over-year due to lower rates and vessel downtime, Robotics showed a 69% increase compared to Q1 2021. Operational cash flow was $(17.4) million, a decline from prior periods.
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