Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Conference Presentation (August 2012)
29 slides from Helix Energy Solutions's conference presentation, Aug 22, 2012
Slide 1: Helix Energy Solutions Group Dynamically Positioned
Helix Energy Solutions Group Dynamically Positioned August 2012
Slide 2: Forward-Looking Statements
* 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 statements” w
Slide 3: Who We Are
* Who We Are Helix is a specialty deepwater service provider to the offshore energy industry, focused on expanding our dynamically positioned fleet and growing our subsea infrastructure services in Well Intervention and Robotics. We utilize free cash flow from our Oil and Gas business to support exp
Slide 4: Contracting Services Provider Strategic Areas of Focus
Contracting Services Provider Strategic Areas of Focus Well Intervention: Entering a wellbore to initiate, enhance or restore production as part of the well’s natural life cycle Robotics: Providing remotely operated vehicles (ROVs) to perform deepwater service tasks beyond the reach of dive crews Wh
Slide 5: Well Intervention: Dynamically Positioned for Growth
* WELL INTERVENTION Dynamically Positioned for Growth
Slide 6: Well Intervention Overview
Well Intervention Overview Well intervention involves entering a wellbore in order to initiate, maximize or abandon production across the life of a well. *
Slide 7: Well Intervention Assets
Well Intervention Assets * Helix 534 Skandi Constructor Q-Plus Well Enhancer Q4000 Seawell
Slide 8: What Sets Helix Apart in Well Intervention
What Sets Helix Apart in Well Intervention The Helix fleet pioneered modern deepwater well intervention techniques MSV Seawell, the industry’s first dedicated monohull light well intervention vessel MODU Q4000, the industry’s first semi-submersible vessel dedicated to riser-deployed well interventio
Slide 9: Robotics: Expanding the Fleet to Meet Growing Demand
* ROBOTICS Expanding the Fleet to Meet Growing Demand
Slide 10: Robotics Overview
Robotics Overview Helix provides ROVs and crews to perform subsea tasks, including: Umbilical and flowline trenching services Geotechnical coring Comprehensive workclass ROV services Dynamically positioned ROV support vessels Tooling and intervention services Technical manpower and project managemen
Slide 11: Robotics Assets
Robotics Assets 45 Work-class ROVs – the backbone of the fleet, capable of performing a broad array of subsea construction and well intervention tasks 4 Trenching ROVs – key to pipeline installation in heavily-trafficked waters 2 Coring ROVs (ROVDrills) – provide seabed composition intelligence for
Slide 12: What Sets Helix Apart in Robotics
What Sets Helix Apart in Robotics Helix charters its ROV support vessels, ensuring a modern fleet that can expand and contract based on regional requirments A fleet of advanced vehicles, including several units custom-built to our specifications The industry leader in subsea trenching and coring cap
Slide 13: Future Robotics Growth
Future Robotics Growth Additional work-class ROVs for current and emerging markets Newbuild charter vessels optimized for renewable energy markets, as well as oil and gas markets (3) Grand Canyon vessels to enter fleet over the next 2 years Trenching ROVs for burial operations worldwide ROVDrill sea
Slide 14: Subsea Construction
* SUBSEA CONSTRUCTION
Slide 15: Subsea Construction Assets
DP S-Lay Vessel Caesar Caesar’s onboard pipe welding and testing capability allows the vessel to lay virtually unlimited lengths of pipe up to 30” in diameter. DP Reel Lay Vessel Express Dual-reel pipelay and subsea construction vessel has an extensive track record of field installation projects aro
Slide 16: Production Facilities
* PRODUCTION FACILITIES
Slide 17: 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: Helix’s Phoenix field (GC 237) Production capacity:
Slide 18: Oil & Gas: Gulf of Mexico Oil and Gas Producer
* OIL & GAS Gulf of Mexico Oil and Gas Producer
Slide 19: Oil & Gas Business
Oil & Gas Business * Our proven ability to exploit reserves in a cost-effective manner leads us to believe there is additional potential in our existing asset base Current oil & gas assets are expected to generate substantial free cash flow over the next 5 years, helping fund planned contracting ser
Slide 20: Helix is Not a Traditional E&P Company
Helix is Not a Traditional E&P Company * Traditional E&P Company Strategy Helix E&P Strategy Significant finding costs / lease sales Acquired interests in established fields and basins Significant exploration costs and risk Exploitation / well intervention Use of Helix service assets for value creat
Slide 21: Balance Sheet Metrics / 2012 Outlook
* Convertible Notes Term Loans / Revolver Senior Unsecured Notes MARAD Debt BALANCE SHEET METRICS / 2012 OUTLOOK *
Slide 22: Debt and Liquidity Profile
* Liquidity of approximately $1.1 billion at 6/30/2012 Liquidity, as we define it, is equal to cash and cash equivalents ($650 million), plus available capacity under our revolving credit facility ($454 million). ($ amounts in millions) Debt and Liquidity Profile
Slide 23: Debt Maturity Profile
Total funded debt of $1.2 billion at end of Q2 2012 consisting of: $358 million Convertible Notes – 3.25%(A) ($321 million net of unamortized debt discount) $377 million Term Loans – LIBOR + 3.25% on $278 million, and LIBOR + 2.75% on $99 million $100 million Revolver borrowings – LIBOR + 2.75% $454
Slide 24: Financial Outlook
Financial Outlook * Broad Metrics 2012 Outlook (revised) 2012 Outlook (original) 2011 Actual Oil and Gas Production 7.0 MMBoe 7.5 MMBoe 8.7 MMBoe EBITDAX >$600 million ~$600 million $669 million CAPEX ~$635 million ~$445 million $229 million Commodity Price Deck Commodity Price Deck 2012 Outlook (re
Slide 25: Summary of July 2012 – Dec 2013 Hedging Positions
* Summary of July 2012 – Dec 2013 Hedging Positions * *As of July 20, 2012
Slide 26: 2012 Outlook Contracting Services
* 2012 Outlook Contracting Services Strong backlog for the Q4000, Well Enhancer and Seawell through 2013 Q4000 building backlog into 2014 Intrepid is now cold stacked, thus foregoing its scheduled regulatory dry dock in 2012 Express working in the North Sea in Q3, returns to the Gulf of Mexico end o
Slide 27: 2012 Outlook Oil and Gas
* 2012 Outlook Oil and Gas Forecasted 2012 overall production of approximately 7.0 MMboe, including Danny II (Bushwood field) expected to commence in Q4 (oil / liquids) Previously drilled Nancy gas well (Bushwood field) now completed and expected to commence production in Q4 Wang (Phoenix field) exp
Slide 28: 2012 Outlook - Capex
* 2012 Outlook - Capex Capital Expenditures Contracting Services (~$435 million) Announced new build semi submersible intervention vessel (approximately $130 million of capex in 2012) Approximately $63 million incurred thru Q2 Acquired the Transocean drillship, Discoverer 534 Drillship to undergo co
Slide 29: Follow Helix ESG
* Follow Helix ESG on Twitter: www.twitter.com/Helix_ESG Join the discussion on LinkedIn: www.linkedin.com/company/helix
Helix Energy Solutions Group — Conference Presentation (August 2012) on 6ix