Skip to main content Q4 2011 CONFERENCE CALL – Helix Energy Solutions Investor Presentation | Shale Experts
Loading...
Pm

Q4 2011 CONFERENCE CALL – Helix Energy Solutions

Helix Energy Solutions · Feb 23, 2012 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 1
    February 23, 2012 Fourth Quarter 2011 Conference Call
  2. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 2
    Presentation Outline Executive Summary Summary of Q4 2011 Results (pg. 4) Operational Highlights by Segment Contracting Services (pg. 9) Oil & Gas (pg. 15) Key Balance Sheet Metrics (pg. 20) 2012 Outlook (pg. 22) Non-GAAP…
  3. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 3
    Executive Summary 4
  4. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 4
    Executive Summary ( in millions, except per share data) Quarter Ended Year Ended 12/31/2011 12/31/2010 9/30/2011 12/31/2011 12/31/2010 Revenues 396 306 372 1,399 1,200 Gross Profit: 140 32 126 475 223 Operating 35% 10% 34% 34%…
  5. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 5
    Executive Summary Q4 2011 EPS of 0.16 per diluted share o Impairment charges totaling 107.5 million (69.9 million after-tax) primarily associated with a reduction in carrying values of certain U.S. oil and gas properties and…
  6. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 6
    Executive Summary Oil and Gas (continued) o Oil and gas production totaled 2.24 MMboe (13.4 Bcfe) in Q4 2011 versus 1.95 MMboe (11.7 Bcfe) in Q3 2011 (year-to-date production of 8.7 MMboe / 52.2 Bcfe) Avg realized price for oil of…
  7. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 7
    Operational Highlights 8
  8. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 8
    Contracting Services ( in millions, except percentages) Quarter Ended 98% utilization in Well Ops December 31 Sept 30 2011 2010 2011 87% utilization in Subsea Revenues (A) Construction due to improved utilization for the Caesar…
  9. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 9
    Earnings in Equity Investments ( in millions) Quarter Ended December 31 Sept 30 2011 2010 2011 Independence Hub 4 4 4 Deepwater Gateway (Marco Polo) 1 1 1 SapuraCrest Helix JV (Australia) 1 1 - Equity in Earnings 6 6 5 10
  10. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 10
    Contracting Services Well Ops GOM Q4000 worked for Shell and Anadarko on multiple projects throughout Q4 100% utilization achieved in Q4 Current backlog extends into 2013 North Sea Seawell and Well Enhancer posted a combined…
  11. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 11
    Contracting Services Robotics 93% chartered vessel utilization and 92% trencher utilization ROV and trencher utilization up in the Gulf of Mexico and North Sea Completed first ROVDrill project in the North Sea: successfully…
  12. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 12
    Contracting Services Subsea Construction Express and Intrepid were 100% utilized during Q4 (excluding the Caesar) Express worked on projects for Chevron, Apache and Newfield Intrepid was deployed to California in October.…
  13. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 13
    Contracting Services Utilization 100% 99% 99% 98% 93% 90% 87% 85% 83% 80% 69% 67% 63% 60% 60% 4Q 2010 3Q 2011 40% 4Q 2011 20% 0% Subsea Construction Vessels ROV / Trencher Support Well Intervention Vessels ROVs…
  14. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 14
    Oil & Gas Financial Highlights ( in millions, except production and price data) Quarter Ended December 31 Sept 30 2011 2010 2011 Revenue 196 137 159 Gross Profit - Operating 97 24 60 Oil & Gas Impairments and ARO Increases (A)…
  15. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 15
    Oil & Gas Operating Costs ( in millions, except per Boe data) Quarter Ended December 31 Sept 30 2011 2010 2011 Total per Boe Total per Boe Total per Boe DD&A (A) 48 21.64 69 30.40 50 25.50 (B) Operating and Other: Operating…
  16. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 16
    Oil & Gas Total Proved and Probable Reserves Oil Gas Total Mbbls MMcf Mboe Total estimated proved reserves at 12/31/2010 24,818 227,264 62,695 Revision of previous oil and gas estimates 3,475 (108,947) (14,683) Production (5,785)…
  17. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 17
    Oil & Gas Reserve Report Highlights At December 31, 2011 Proved Proved Total Developed Undeveloped Total Estimated Reserves (MMboe) 23 16 39 Shelf 13 9 22 Deepwater 10 7 17 Oil (MMbbls) 13 10 23 Gas (Bcf) 60 37 97 SEC…
  18. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 18
    Summary of Jan 2012 Dec 2013 Hedging Positions * Total Volume Pricing Swap Average Collar Price Oil (Bbls) Collars Swaps Hedged Basis Pricing Floor Ceiling 2012 900,000 - 900,000 WTI - 96.67 118.57 2012 1,667,500 192,500 1,860,000…
  19. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 19
    Key Balance Sheet Metrics 20
  20. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 20
    Debt and Liquidity Profile ( amounts in millions) 2,027 2,000 1,100 1,803 1,500 825 1,361 1,358 1,155 Liquidity (B) 1,090 Debt (A) 967 1,000 550 609 500 275 0 0 12/31/2008 12/31/2009 12/31/2010…
  21. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 21
    2012 Outlook 22
  22. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 22
    2012 Outlook Broad Metrics 2012 Forecast 2011 Actual Oil and Gas 7.5 MMboe 8.7 MMboe Production EBITDAX 600 million 669 million CAPEX 445 million 229 million Commodity Price 2012 Forecast 2011 Actual Deck Oil 104.80 /…
  23. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 23
    2012 Outlook Contracting Services o Strong backlog for the Q4000, Well Enhancer and Seawell through 2012 Q4000 building backlog into 2013 o Well Enhancer working in West Africa and transits back to the North Sea late first quarter…
  24. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 24
    2012 Outlook Oil and Gas o Forecasted 2012 overall production of 7.5 MMboe, including Wang (Phoenix field) and Danny 2 (Bushwood field) exploration wells Assumes Wang production commences Q4 Assumes Danny 2 production commences…
  25. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 25
    2012 Outlook - Capex Capital Expenditures o Contracting Services (250 million) Announced new build semi submersible intervention vessel (approximately 130 million of capex in 2012) Regulatory dry docks for four vessels Continued…
  26. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 26
    Non-GAAP Reconciliations 27
  27. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 27
    Non-GAAP Reconciliations Adjusted EBITDAX ( in millions) Quarter Ended Year Ended December 31 Sept 30 December 31 2011 2010 2011 2011 2010 Net income (loss) applicable to common shareholders 17 (50) 46 130 (127) Non-cash…
  28. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 28
    Non-GAAP Reconciliations Revenue and Gross Profit As Reported ( in millions) Quarter Ended December 31 Sept 30 2011 2010 2011 Revenues Contracting Services 206 185 230 Production Facilities 19 20 20 Intercompany elim. -…
  29. Q4 2011 CONFERENCE CALL – Helix Energy Solutions – slide 29
    30

From the store

Browse maps, data & reports in the Shale Experts store