Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Q2 2008 Earnings Presentation
21 slides from Helix Energy Solutions's earnings presentation, Jul 31, 2008
Slide 1: Second Quarter Earnings Conference Call July 31, 2008
Second Quarter Earnings Conference Call July 31, 2008
Slide 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 statements that could be deemed "forward-looking statements
Slide 3: Presentation Outline
Presentation Outline Executive Summary Summary of Results Strategy Update 2008 Outlook Update Operational Highlights by Segment Contracting Services Oil & Gas Questions & Answers Umbilical reels on the MSV Express
Slide 4: Executive Summary Highlights
Executive Summary Highlights ($ in millions, except per share data)
Slide 5: Executive Summary Highlights of the Quarter
Executive Summary Highlights of the Quarter Record revenues and gross profit based on strong performance across all business segments. Consolidated revenues, gross profit and net income increased 20%, 59% and 23% respectively compared to the 1st quarter of 2008. Helix Contracting Services revenues i
Slide 6: 2008 Objectives
2008 Objectives Sell down interests in Oil & Gas properties to capture value while mitigating risk, reduce intercompany profit deferral and fund capital program. Completed sale of 10% working interest in Bushwood in April. Total proceeds of approximately $181 million received for 30% working interes
Slide 7: 2008 Outlook Update
2008 Outlook Update ($ in millions, except per share data) Guidance reaffirmed as improvements in commodity prices offset lower property sales and weakness in shelf contracting Shelf contracting lowered to middle of revised DVR guidance range Earnings contribution from Caesar deferred to 2009 Annual
Slide 8: Operational Highlights by Segment
OPERATIONAL HIGHLIGHTS BY SEGMENT Launch of the MSV Well Enhancer in Rotterdam on May 31, 2008
Slide 9: Contracting Services
Contracting Services ($ in millions, except percentages)
Slide 10: Contracting Services Continued
Contracting Services Continued
Slide 11: Contracting Services Commentary
Contracting Services Commentary Helix Contracting Services The Intrepid completed the Anadarko Powerplay pipe-in-pipe project and commenced installation of the Noonan flowline. The MSV Express continues working offshore India on the Reliance KGD6 project. Olympic Triton installed the first segment o
Slide 12: Shelf Contracting (Cal Dive) and Production Facilities
Shelf Contracting (Cal Dive) Utilization and margins improved due to more traditional seasonality. See separate earnings release and conference call for this majority owned subsidiary. Production Facilities Independence Hub platform shut in on April 9, 2008 as the result of a leak in the Independenc
Slide 13: Oil & Gas Financial Highlights
Oil & Gas Financial Highlights Comments Significant growth in revenue and gross profit due to favorable commodity price environment Production of 14.9 Bcfe in line with expectations; down from prior periods due to reduction in capital allocated to shelf exploration Net gains on sale of property duri
Slide 14: Oil & Gas Operating Costs
Oil & Gas Operating Costs ($ in millions, except per Mcfe data)
Slide 15: Summary of 2008 - 2009 Hedging Positions
Summary of 2008 - 2009 Hedging Positions (July 2008 - December 2009)
Slide 16: Non GAAP Reconciliations Adjusted EBITDAX
Non GAAP Reconciliations Adjusted EBITDAX ($ in millions)
Slide 17: Non GAAP Reconciliations Revenue and Gross Profit As Reported
Non GAAP Reconciliations Revenue and Gross Profit As Reported ($ in millions)
Slide 18: Non GAAP Reconciliations 2008 Outlook Update - Adjusted EBITDAX
Non GAAP Reconciliations 2008 Outlook Update - Adjusted EBITDAX ($ in millions)
Slide 19: Non GAAP Reconciliations 2008 Initial Outlook - Adjusted EBITDAX
Non GAAP Reconciliations 2008 Initial Outlook - Adjusted EBITDAX ($ in millions)
Slide 20: Contracting Services - World Class Fleet and Capabilities
Contracting Services - World Class fleet and Capabilities Robotics (Canyon Offshore) 42 ROVs 5 trenchers 2000 HP i- trencher 2 ROV drill units Portable pipelay system (2008; under construction) Long term charters DP2 Northern Canyon DP2 Olympic Canyon DP2 Olympic Triton DP2 Island Pioneer DP2 Seacor
Slide 21: Thank You
oat FLIX ENERGY SOLUTIONS Thank You
Helix Energy Solutions Group — Q2 2008 Earnings Presentation on 6ix