Helix Energy Solutions May Be More Volatile, But Still Valuable
Stephen Simpson, CFA
Stephen Simpson, CFA
Wed, Jul. 20, 2:00 PM
Wed, Jul. 20, 5:43 AM
Mon, Jul. 18, 5:35 PM
Wed, Jul. 13, 2:00 PM
Wed, Jul. 13, 12:44 PM
Wed, May 25, 2:58 PM
- BP (BP +3.3%) has started a water injection project at its Thunder Horse platform in the deepwater Gulf of Mexico to boost oil and gas recovery from one of the field’s three main reservoirs.
- BP expects the improvements to allow the facility to recover an additional 65M boe over time.
- The Thunder Horse platform, which began producing in 2008, has production capacity of 250K bbl/day of oil and 200M cf/day of gas.
- BP is using Helix Energy Solutions' (HLX +8.4%) newbuild well intervention vessel Q5000 at Thunder Horse for workovers and well enhancement, including acid stimulation and water reduction.
- Thunder Horse is operated by BP with a 75% working interest, while Exxon Mobil (XOM +0.5%) holds the remaining 25%.
Tue, Apr. 19, 6:07 PM
Mon, Apr. 18, 5:35 PM
Tue, Apr. 12, 11:29 AM
- Helix Energy (HLX +7.6%) is upgraded to Outperform from Neutral with a $10 price target, doubled from $5, at Credit Suisse, which cites HLX's leading position in the well intervention segment.
- The firm says many deepwater wells are now 8-9 years old and in need of well intervention, which should boost volumes allowing oil companies to slow down decline rates, and sees 2016 as the earnings trough for HLX as well intervention activity picks up in 2017.
- Credit Suisse raises its EPS estimates for 2016 and 2017 to $0.50 loss from a$0.70 loss and to a $0.15 loss from a $0.64 loss, respectively.
- Now read Helix Energy upgraded at Morgan Stanley, led by well intervention
Tue, Apr. 12, 9:12 AM
Fri, Apr. 8, 12:45 PM
Thu, Mar. 17, 12:49 PM
Thu, Mar. 17, 12:14 PM
- Helix Energy Solutions (HLX +16.8%) is upgraded to Overweight from Equal Weight with a $10 price target, raised from $8, at Morgan Stanley, which believes well intervention will lead to a resurgence after a tough Q1.
- The firm says HLX’s well intervention continues to be more competitive: In the Gulf of Mexico, even at current depressed dayrates of 60% below the peak for deepwater rigs, HLX’s vessels are 15%-25% more economic for customers, and in the North Sea, the company’s well intervention vessels are 30%-60% more economic.
- HLX shares are "pricing in a much more punitive valuation vs. offshore names that are structurally worse off,” Stanley says.
Tue, Feb. 23, 2:59 PM
- Helix Energy (HLX +23.6%) skyrockets after posting Q4 beats on the top and bottom lines, saying it exceeded its prior EBITDA outlook on the strength of better utilization of both the Q4000 and the Q5000 for well intervention activities in the Gulf of Mexico.
- HLX said in today's earnings conference call that it does not see any evidence of recovery in 2016, as customers have responded to the weak energy environment by slashing 2016 budgets even deeper than 2015.
- HLX also said it expects difficultly in hitting breakeven in Q1 EBITDA, although it will see significant improvement in Q2; it also plans FY 2016 capex of $245M.
Tue, Feb. 23, 12:46 PM
Tue, Feb. 23, 12:29 AM
- Helix Energy Solutions (NYSE:HLX): Q4 EPS of -$0.06 beats by $0.03.
- Revenue of $157.68M (-23.9% Y/Y) beats by $7.72M.