Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Conference Presentation (October 2011)
23 slides from Helix Energy Solutions's conference presentation, Oct 27, 2011
Slide 1: Company Update
Company Update November 2011
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” wit
Slide 3: Services for Each Stage of the Field Life Cycle
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 • Wellbore Drilling •
Slide 4: Business Segments
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 deepwater Pipelay P
Slide 5: Strategically Differentiated Fleet
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) • Well Enhan
Slide 6: Well Intervention Assets
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 / wireline / slickl
Slide 7: Production Facilities
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 Phoe
Slide 8: Robotics
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 construction ser
Slide 9: Subsea Construction Vessels
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, installatio
Slide 10: Helix Fast Response System (HFRS)
Helix Fast Response System (HFRS) • Utilizes vessels and subsea systems proven in Gulf of Mexico spill response and containment efforts • 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 d
Slide 11: Offshore Renewable Energy Support
Offshore Renewable Energy Support • Projected 2011 non-oilfield revenues of ~$54 million on power cable burial projects • Provide trenching, cable burial and ROV support for offshore wind farm development • Current focus on export lines (field to shore) • Future opportunities in-field (inter-array c
Slide 12: Helix Oil and Gas
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-October Average Production Profile • ≈ 128 mmcfe/d* • ≈ 70% of production is oil • ≈ 65% of production is deepwater • Phoenix ≈ 12,000 boe/d, net* * As of Octob
Slide 13: Key Balance Sheet Metrics
Key Balance Sheet Metrics 13
Slide 14: Debt and Liquidity Profile
Debt and Liquidity Profile Liquidity of approximately $933 million at 9/30/2011 (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 ($375 million), plus available capacity under our revolving credi
Slide 15: Debt Profile
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 have the right
Slide 16: Debt Profile (continued)
Debt Profile (continued) Credit Facilities, Commitments and Amortization January 2016: •$475 Million Senior Unsecured Notes • Interest only until maturity (January 2016) or called by Helix. First Helix call date is January 2012 (first call price of 104.75). • Repurchased $75 million in Q3 at an aver
Slide 17: 2011 Outlook
2011 Outlook 17
Slide 18: 2011 Outlook
2011 Outlook 2011 Forecast 2011 Broad Metrics 2010 Actual (revised) (original) Forecast Oil and Gas 50 Bcfe 49 Bcfe 47 Bcfe Production EBITDAX $625+ million $475 million $430 million CAPEX $275 million $225 million $179 million Commodity Price 2011 Forecast 2011 2010 Actual Deck (revised) (original)
Slide 19: 2011 Outlook
2011 Outlook • Contracting Services o Strong backlog for the Q4000, Well Enhancer and Seawell in 2011 and building well into 2012 o Well Enhancer to work in West Africa this winter o Intrepid deployed to California performing field development projects through early 2012 o Express working through a
Slide 20: 2011 Outlook
2011 Outlook • Capital Expenditures o Contracting Services ($110 million) § Continued incremental investment in robotics business, with a focus on adding trenching spread capacity § Seeking to deploy capital in well intervention business § Caesar thruster upgrade completion o Oil and Gas ($165 milli
Slide 21: Summary of Oct 2011 - Dec 2013 Hedging Positions
Summary of Oct 2011 - Dec 2013 Hedging Positions * * As of October 23, 2011. 21
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Helix Energy Solutions Group — Conference Presentation (October 2011) on 6ix