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Oct. 28, 2015, 2:57 PM
- Helix Energy Solutions (HLX +7.8%) says its Q5000 well intervention unit entered service last week and is currently on hire for a client in the Gulf of Mexico.
- HLX says deployment of the Q5000 is the culmination of a three-year effort to to launch a second semisubmersible purpose-built well intervention asset after the Q4000.
- HLX says its contract with BP, which was scheduled to begin in Q3 2015, will now begin April 2016, but the contract period remains at five years.
Oct. 20, 2015, 3:59 PM
- Helix Energy Solutions (HLX +26.9%) surges higher after beating Q3 earnings estimates, and revenues rose 9% Q/Q to $182M even as they fell ~$10M short of expectations.
- HLX says well intervention revenue rose 11% Q/Q, reflecting a greater number of utilized days in the quarter for two of its North Sea vessels, and robotic revenue also added 11% Q/Q as vessel utilization rose to 87%.
- Nevertheless, CEO Owen Kratz warns that industry conditions will remain challenging, and expects Q4 results to be affected by normal seasonal factors in the North Sea as well as a continuation of the weak industry environment.
Oct. 20, 2015, 12:45 PM
Oct. 20, 2015, 12:23 AM
- Helix Energy Solutions (NYSE:HLX): Q3 EPS of $0.09 beats by $0.01.
- Revenue of $182.46M (-46.5% Y/Y) misses by $10.2M.
Oct. 18, 2015, 5:35 PM
Oct. 2, 2015, 5:37 PM
Sep. 24, 2015, 6:58 PM
- Rambus (NASDAQ:RMBS) has moved up 6.5% after hours on news it's replacing Ryland Group (NYSE:RYL) in the S&P SmallCap 600 after the close on Oct. 1.
- Ryland, which is up 1.5% after hours, is getting acquired by Standard Pacific (NYSE:SPF) in a deal expected to close on that date. Standard Pacific -- which is changing its name to CalAtlantic Group -- is leaving the SmallCap 600 along with Ryland, to join the S&P MidCap 400.
- Meanwhile, the other SmallCap 600 spot will be taken by Helix Energy Solutions (HLX -3.2%), which is leaving the MidCap 400 now that its market cap (about $557M) is "more representative of the small-cap market space." Helix is up 0.3% after hours.
- Previously: Industry eyes Ryland/Standard Pacific merger (Jun. 15 2015)
- Previously: Homebuilders Standard Pacific, Ryland Group agree to merge (Jun. 14 2015)
Jul. 21, 2015, 12:45 PM
Jul. 20, 2015, 6:08 PM
- Helix Energy Solutions Group (NYSE:HLX): Q2 EPS of -$0.03 misses by $0.18.
- Revenue of $166.01M (-45.7% Y/Y) misses by $27.71M.
Jul. 19, 2015, 5:35 PM
Jun. 12, 2015, 5:43 PM
- Helix Energy Solutions (NYSE:HLX) has delayed taking delivery of a $350M well intervention vessel by a year until 2017, evidence that the deepwater oil and gas industry may still be 18 months away from rebounding as opposed to quicker recoveries possible in the more-nimble onshore U.S. shale business, Raymond James director of energy research Marshall Adkins says.
- "Everybody is totally rethinking their projects and the demand for rigs is waning," Adkins says, adding that it makes sense for HLX to voluntarily delay the next wave of its flagship vessel even if it may cost the company some work in the short term.
- Deepwater exploration is continuing, albeit at a slower pace, but "it’s just taking a little while to get the costs down," Adkins says.
Apr. 20, 2015, 6:05 PM
- Helix Energy Solutions Group (NYSE:HLX): Q1 EPS of $0.19 beats by $0.12.
- Revenue of $189.64M (-25.2% Y/Y) misses by $8.72M.
Apr. 19, 2015, 5:35 PM
Apr. 7, 2015, 5:36 PM
Mar. 2, 2015, 12:46 PM
- Helix Energy (HLX -1.9%) slides after warning via investor presentation slides that 2015 will be a challenging year, confirming concerns stated earlier in the year.
- HLX says 2015 results will come in "well below" 2014; says its customers are aggressively cutting spending, with some seeking to renegotiate contracts and cancel contracts even with cancellation feeds, and some have deferred contracted work into later periods.
- HLX also outlines a ~$400M capex budget for 2015.
Feb. 27, 2015, 2:42 PM
- BP is pushing back the start date for its contract with Helix Energy Solutions (HLX -2.2%) for the Q5000 well intervention vessel, sending HLX shares to 52-week lows.
- The well was scheduled to begin work in the Gulf of Mexico in Q3, but the amended agreement defers the start of the work to April 1, 2016.
- The amendment also contains certain other modifications that HLX says will give it greater flexibility to market the vessel to other potential customers, including prior to starting the work for BP.
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