Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Raymond James 36th Annual Institutional Investors Conference (March 2015)
27 slides from Helix Energy Solutions's conference presentation, Mar 2, 2015
Slide 1: Raymond James 36th Annual Institutional Investors Conference
Raymond James 36th Annual Institutional Investors Conference Navigating the present, focused on the future. March 3, 2015
Slide 2: Forward Looking Statements
Forward Looking Statements Navigating the present, focused on the future. * This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Al
Slide 3: Who We Are
Who We Are Navigating the present, focused on the future. * Helix is a specialty deepwater service provider to the offshore energy industry, focused on expanding our subsea infrastructure services in Well Intervention and Robotics.
Slide 4: Deepwater Subsea Services
Deepwater Subsea Services Navigating the present, focused on the future. * Well Intervention: Entering a wellbore to initiate, enhance, restore or decommission production as part of the well’s natural life cycle. Robotics: Providing remotely operated vehicles (ROVs) to perform deepwater service task
Slide 5: Well Intervention
Well Intervention Navigating the present, focused on the future. *
Slide 6: Well Intervention Overview
Well Intervention Overview Navigating the present, focused on the future. *
Slide 7: Well Intervention Current Asset Base
Well Intervention Current Asset Base Navigating the present, focused on the future. * Q4000 Skandi Constructor (chartered vessel) Well Enhancer Seawell Intervention Riser Systems H534
Slide 8: Future Well Intervention Growth
Future Well Intervention Growth Navigating the present, focused on the future. * Q5000 – Expected completion Q2 2015 Intervention Riser Systems Q7000 – Under Construction Siem Helix 1, 2 – In Service 2016
Slide 9: Aging Global Subsea Wellhead Count
Aging Global Subsea Wellhead Count Navigating the present, focused on the future. * Source: Quest Offshore Resources, Energy Database Data as of August 2014
Slide 10: Robotics
Robotics Navigating the present, focused on the future. *
Slide 11: Robotics Overview
Robotics Overview Navigating the present, focused on the future. * 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
Slide 12: Robotics Assets
Robotics Assets Navigating the present, focused on the future. * 50 Work-class ROVs The backbone of the fleet, capable of performing a broad array of subsea construction and well intervention tasks 5 Trenchers The key to pipeline installation in heavily trafficked waters 2 ROV Drills: Provide seabed
Slide 13: Chartered Vessel Fleet
Chartered Vessel Fleet Navigating the present, focused on the future. * Grand Canyon Olympic Canyon Deep Cygnus Rem Installer
Slide 14: Chartered Vessel Fleet
Chartered Vessel Fleet Navigating the present, focused on the future. * Currently four vessels under long-term charter Two additional vessels scheduled to enter fleet in 2015 that are a combination of fleet enhancement / replacement Grand Canyon II Grand Canyon III Spot vessels are continually added
Slide 15: Future Robotics Growth
Future Robotics Growth Navigating the present, focused on the future. * Newbuild chartered vessels optimized for renewable energy markets, as well as oil & gas markets Additional work-class ROVs for current and emerging markets Trenchers for burial operations worldwide ROVDrill seabed coring units f
Slide 16: What Sets Helix Apart in Robotics
What Sets Helix Apart in Robotics Navigating the present, focused on the future. * Oil & Gas Renewable Energy Subsea Mining Specialty Services Helix charters its ROV support vessels, ensuring a modern fleet that can expand and contract based on regional requirements A fleet of advanced vehicles, inc
Slide 17: Production Facilities
Production Facilities Navigating the present, focused on the future. *
Slide 18: Production Facilities
Production Facilities Navigating the present, focused on the future. * Independence Hub Semi (20%) Location: Mississippi Canyon (GOM) Partner: Enterprise Products Operator: Anadarko Marco Polo TLP (50%) Location: Green Canyon (GOM) Partner: Enterprise Products Operator: Anadarko Helix Producer I FPU
Slide 19: Debt & Liquidity
Debt & Liquidity Navigating the present, focused on the future. *
Slide 20: Debt & Liquidity Profile
Debt & Liquidity Profile Navigating the present, focused on the future. * Includes impact of unamortized debt discount under our convertible senior notes. We define liquidity as the total of cash and cash equivalents ($476 million) plus unused capacity under our revolving credit facility ($584 milli
Slide 21: Debt Instrument Profile
Debt Instrument Profile Navigating the present, focused on the future. * Pro forma for Q5000 Term Loan Total funded debt of $822 million at end of 2014 $200 million Convertible Senior Notes – 3.25% 1 ($179 million net of unamortized debt discount) $277 million Term Loan – LIBOR + 2.25% 2 Annual amor
Slide 22: 2015 Outlook
2015 Outlook Navigating the present, focused on the future. *
Slide 23: 2015 Outlook – Industry Conditions
2015 Outlook – Industry Conditions Navigating the present, focused on the future. * Collapse in oil prices drives a reduction in spending by our customers across the supply chain; Helix is not immune. Nature of cyclical downturn: Driven by oversupply of oil Lack of demand elasticity (slow global eco
Slide 24: 2015 Outlook – Company Specific
2015 Outlook – Company Specific Navigating the present, focused on the future. * 2015 is expected to be challenging as a result of the following factors: Our customers are aggressively cutting spending and certain of our customers are seeking to renegotiate contracts, as well as seeking to cancel co
Slide 25: 2015 Outlook – Capex
2015 Outlook – Capex Navigating the present, focused on the future. * 2015 capex budget of approximately $400 million consisting of the following:1 $305 million in growth capital, primarily for newbuilds currently underway, including: $170 million for Q5000 (includes $15 million contingency) $40 mil
Slide 26: Beyond 2015
Beyond 2015 Navigating the present, focused on the future. * Entering 2015, Helix is well positioned to weather the down cycle Approximately $900 million of remaining capital commitments at the end of 2014 Liquidity of $1.1 billion at the end of 2014 Helix is focused on positioning for a recovery by
Slide 27: Navigating the present, focused on the future.
Navigating the present, focused on the future. HLX Listed NYSE® Follow Helix on Twitter - @Helix_ESG www.linkedin.com/company/helix