Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Investor Presentation (January 2015)
27 slides from Helix Energy Solutions's investor presentation, Jan 5, 2015
Slide 1: Company Update January 2015
Company Update January 2015 Built for success, positioned for growth
Slide 2: Forward-Looking Statements
Built for success, positioned for growth 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. All statements, other than statements
Slide 3: Who We Are
Built for success, positioned for growth Helix is a specialty deepwater service provider to the offshore energy industry, focused on expanding our subsea infrastructure services in Well Intervention and Robotics. Who We Are *
Slide 4: Deepwater Subsea Services
Built for success, positioned for growth 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 tasks beyond the reach of dive crews.
Slide 5: Well Intervention
Built for success, positioned for growth Well Intervention
Slide 6: Well Intervention Overview
Built for success, positioned for growth Well Intervention Overview *
Slide 7: Well Intervention Current Asset Base
Built for success, positioned for growth Q4000 Well Enhancer Seawell H534 Skandi Constructor (chartered vessel) Intervention Riser Systems (IRS) Well Intervention Current Asset Base *
Slide 8: Future Well Intervention Growth
Built for success, positioned for growth Helix 534 In Service Q4 2013 Q5000 In Service 2015 Intervention Riser Systems Q7000 In Service 2016 Siem Helix 1,2 In Service 2016 Future Well Intervention Growth *
Slide 9: Global Subsea Well Inventory Growth
Built for success, positioned for growth Source: Quest Offshore Resources, Energy Database Global Subsea Well Inventory Growth *
Slide 10: Robotics
Built for success, positioned for growth Robotics
Slide 11: Robotics Overview
Built for success, positioned for growth 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 manpowe
Slide 12: Robotics Assets
Built for success, positioned for growth 56 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 New T1500 jet trencher entered fleet in Q2 2014 2
Slide 13: Chartered Vessel Fleet
Built for success, positioned for growth Olympic Canyon Grand Canyon 1 Rem Installer Deep Cygnus Deep Cygnus Chartered Vessel Fleet *
Slide 14: Chartered Vessel Fleet
Built for success, positioned for growth Currently four vessels under long-term charter Two additional vessels scheduled to enter fleet in 2015 Grand Canyon 2 Grand Canyon 3 The above vessels are a combination of fleet enhancement / replacement Spot vessels are continually added & subtracted to the
Slide 15: Future Robotics Growth
Built for success, positioned for growth 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 for energy and mining industries
Slide 16: What Sets Helix Apart in Robotics
Built for success, positioned for growth Helix charters its ROV support vessels, ensuring a modern fleet that can expand and contract based on regional requirements A fleet of advanced vehicles, including several units custom-built to our specifications The industry leader in subsea trenching and co
Slide 17: Production Facilities
Built for success, positioned for growth Production Facilities
Slide 18: Production Facilities
Built for success, positioned for growth 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 Location: Phoenix Field (GOM)
Slide 19: Debt & Liquidity
Built for success, positioned for growth Debt & Liquidity
Slide 20: Debt and Liquidity Profile
Built for success, positioned for growth Liquidity of approximately $1.1 billion at 09/30/2014 ($ amounts in millions) Includes impact of unamortized debt discount under our convertible senior notes. We define liquidity as the total of cash and cash equivalents ($547 million) plus unused capacity un
Slide 21: Debt Instrument Profile
Built for success, positioned for growth Total funded debt of $576 million at end of Q3 2014: $200 million Convertible Senior Notes – 3.25% (A) ($178 million net of unamortized debt discount) $281 million Term Loan – LIBOR + 2.25% (B) Annual amortization payments of 5% in years 1 and 2, 10% per annu
Slide 22: 2015 Outlook
Built for success, positioned for growth 2015 Outlook
Slide 23: 2014 Forecast
Built for success, positioned for growth Earnings per share estimates based on a corporate tax rate ranging from 25% - 30%. 2014 Forecast *
Slide 24: 2015 Outlook – Industry Conditions
Built for success, positioned for growth Recent slide in oil prices dampens the outlook for 2015 E&P spending likely to be reduced significantly across the supply chain Helix is likely to also be impacted by customer spending cuts in 2015 Exploration budgets will likely be more severely impacted tha
Slide 25: 2015 Outlook – Company Specific
Built for success, positioned for growth Q5000 should enter the fleet sometime in Q3 2015 Seawell “life extension” ongoing and is expected to take the vessel out of service for approximately 100 days in 2015 H534 and Q4000 both have scheduled regulatory drydocks in 2015 North Sea market expected to
Slide 26: Beyond 2015
Built for success, positioned for growth The demand for well intervention services expected to increase as the subsea wellhead count increases and ages Alliance with OneSubsea and Schlumberger expected to generate incremental opportunities for Helix vessels associated with production enhancement act
Slide 27: Follow Helix on Twitter and LinkedIn
Built for success, positioned for growth Follow Helix on Twitter: @Helix_ESG Join the discussion on LinkedIn: www.linkedin.com/company/helix
Helix Energy Solutions Group — Investor Presentation (January 2015) on 6ix