Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Corporate Update (August 2011)
23 slides from Helix Energy Solutions's corporate update, Aug 23, 2011
Slide 1: Company Update
HELIX ENERGY SOLUTIONS GROUP Company Update August 2011
Slide 2: Forward-Looking Statements
EXHIBIT 99.2 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements, other than statements of historical fact, are “forward-looking st
Slide 3: Services for Each Stage of the Field Life Cycle
EXHIBIT 99.2 Services for Each Stage of the Field Life Cycle Drilling Field Development Production Decommissioning • Seabed Evaluation / • Pipeline, Flowline and • Coiled Tubing, Wireline, • Field Decommissioning Coring Umbilical Installation Slickline, and Drillstring- • Plug & Abandonment • Wellbo
Slide 4: Business Segments
EXHIBIT 99.2 Business Segments Well Intervention Offshore Q4000 Production Facilities Seawell Helix Producer I Well Enhancer Helix Fast Response System Normand Clough (JV) Marco Polo TLP (50%) Mobile VDS/SILs Independence Hub Semi (20%) Deepwater Oil & Gas Production Contracting GOM shelf and deepwa
Slide 5: Strategically Differentiated Fleet
EXHIBIT 99.2 Strategically Differentiated Fleet • Helix Producer I is the only DP FPU in the Gulf of Mexico • Q4000 is the world’s only category B semisubmersible intervention vessel available to the open market • Saturation diving deployed globally (Seawell, Well Enhancer, Intrepid, Normand Clough)
Slide 6: Well Intervention Assets
EXHIBIT 99.2 Well Intervention Assets MSV DP3 Well MSV DP2 Normand Enhancer Clough MSV DP2 Seawell MODU DP3 Q4000 Helix provides well operation and decommissioning services with the flagship Q4000 semisubmersible, the Seawell riserless well intervention vessel, the Well Enhancer coiled tubing / wire
Slide 7: Production Facilities
EXHIBIT 99.2 Production Facilities Independence Hub Semi (20%) • Location: Mississippi Canyon 920 • Depth: 8,000 ft. • Production capacity: • 1 BCFD Marco Polo TLP (50%) • Location: Green Canyon 608 • Depth: 4,300 ft. • Production capacity: • 120,000 BOPD • 300 MMCFD Helix Producer I FPU • Location:
Slide 8: Robotics
EXHIBIT 99.2 Robotics The Helix ROV fleet consists of The state of the art I-Trencher The T-1200 jet trencher is 40+ vehicles, covering the system trenches, lays pipe up to 16” currently under construction (1H spectrum of deepwater in diameter, and backfills in a single 2012 delivery) to support con
Slide 9: Subsea Construction Vessels
EXHIBIT 99.2 Subsea Construction Vessels DP Reel Lay Vessel Express Helix’s dual-reel pipelay and subsea construction vessel has established an extensive track record of field installation projects around the world. DP Reel Lay Vessel Intrepid Intrepid has the flexibility to be deployed as a pipelay
Slide 10: Helix Fast Response System (HFRS)
EXHIBIT 99.2 Helix Fast Response System (HFRS) • Utilizes vessels and subsea systems proven in Macondo spill response • Capability to capture and process up to 55,000 bpd in water depths to 10,000 feet at 15,000 psi • 24 independent E&P operators have signed on to include HFRS in drilling permit app
Slide 11: Offshore Renewable Energy Support
EXHIBIT 99.2 Offshore Renewable Energy Support • Generated non-oilfield revenues of $36.5 million on power cable burial projects in 2010 • Provide trenching, cable burial and ROV support for offshore wind farm development • Current focus on export lines (field to shore) • Future opportunities in-fie
Slide 12: Helix Oil and Gas
EXHIBIT 99.2 Helix Oil and Gas 12/31/2010 Reserve Profile • 376 Bcfe • ≈ 55% Deepwater GOM • ≈ 40% proved developed • ≈ 40% Oil • PV-10 $1.3 billion Mid-August Average Production Profile • ≈ 134 mmcfe/d* • ≈ 70% of production is oil • ≈ 65% of production is deepwater • Phoenix ≈ 10,500 boe/d, net* *
Slide 13: Key Balance Sheet Metrics
EXHIBIT 99.2 Key Balance Sheet Metrics 13
Slide 14: Debt and Liquidity Profile
EXHIBIT 99.2 Debt and Liquidity Profile ($ amounts in millions) Liquidity of approximately $923 million at 8/22/2011 (A) Includes impact of unamortized debt discount under our Convertible Senior Notes. (B) Liquidity, as we define it, is equal to cash and cash equivalents ($372 million), plus availab
Slide 15: Debt Profile
EXHIBIT 99.2 Debt Profile Credit Facilities, Commitments and Amortization December 2012 (Potential Put by Holders, Actual Maturity December 2025): •$300 Million Convertible Notes - Interest only until put by noteholders or called by Helix. First put/call date is December 2012, although noteholders h
Slide 16: Debt Profile (continued)
EXHIBIT 99.2 Debt Profile (continued) Credit Facilities, Commitments and Amortization January 2016: •$500 Million High Yield Notes ($550 million at June 30, 2011) • Interest only until maturity (January 2016) or called by Helix. First Helix call date is January 2012 (first call price of 104.75). • H
Slide 17: 2011 Outlook
EXHIBIT 99.2 2011 Outlook 17
Slide 18: 2011 Outlook
EXHIBIT 99.2 2011 Outlook 2011 Forecast 2011 Broad Metrics 2010 Actual (revised) (original) Forecast Oil and Gas 50 Bcfe 49 Bcfe 47 Bcfe Production EBITDAX $575+ million $475 million $430 million CAPEX $275 million $225 million $179 million Commodity Price 2011 Forecast 2011 2010 Actual Deck (revise
Slide 19: 2011 Outlook
EXHIBIT 99.2 2011 Outlook • Contracting Services o Strong backlog for the Q4000, Well Enhancer and Seawell in 2011 o Continued robotics utilization recovery in second half of 2011, driven primarily by activity outside the GOM o Backlog for Express and Intrepid improved, although some backlog subject
Slide 20: 2011 Outlook
EXHIBIT 99.2 2011 Outlook • Capital Expenditures o Contracting Services ($115 million) § No major vessel projects planned for 2011 § Caesar thruster upgrade continues through Q3 § Incremental investment in robotics business o Oil and Gas ($160 million) § Focus capital investment on oil development w
Slide 21: Summary of Aug 2011 - Dec 2012 Hedging Positions
EXHIBIT 99.2 Summary of Aug 2011 - Dec 2012 Hedging Positions * * As of August 22, 2011. 21
Slide 22: EXHIBIT 99.2
EXHIBIT 99.2 HELIX ENERGY SOLUTIONS GROUP aa
Slide 23: EXHIBIT 99.2
EXHIBIT 99.2
Helix Energy Solutions Group — Corporate Update (August 2011) on 6ix