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Despite The North Sea Slowdown, Helix Energy Solutions Is Steady

Badsha Chowdhury profile picture
Badsha Chowdhury


  • HLX's well intervention asset utilization has improved significantly and is likely to stay strong.
  • The company's Q4000 and Q5000 (well intervention vessels) have contracted work in Q4 2021, extending into the next year.
  • However, the company's well intervention vessels in the North Sea have been stacked due to project slowdown.
  • A robust balance sheet and a relatively safe debt-to-equity ratio will keep investors interested in the stock.
AHTS vessel Island Valiant doing rig move operation for semi submersible rig Borgsten Dolphin next to Dunbar platform.

arild lilleboe/iStock via Getty Images

HLX Is Gearing Up

In the near to medium term, Helix Energy Solutions Group (NYSE:HLX) is likely to see a surge in abandonment work and riser-based well intervention scope of work in the US Gulf of Mexico. In West Africa, it

This article was written by

Badsha Chowdhury profile picture
I have more than 14 years of experience in analyzing and writing on stocks. I write on both long and short sides in an unbiased manner. I have been covering the energy sectors for the past 7 years, with the primary focus on the oilfield equipment services sector. I also cover the Industrial Supply industry. I occasionally co-author with Seeking Alpha contributor Thomas Prescott.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (5)

Johnny Skyhook profile picture
Piper Sandler just raised $HLX to overweight from neutral with a $5.60 price target, up from $4.50 previously.

Johnny Skyhook profile picture
From DowJones today:

Helix Energy Solutions Extends Siem Helix 2 Contract with Petrobras

Helix Energy Solutions Group, Inc. (NYSE: HLX) is pleased to announce that it has entered into an extension of its well intervention charter and services contracts for the Siem Helix 2 offshore Brazil with Petroleo Brasileiro S.A. (Petrobras).

The initial four-year contract for the Siem Helix 2 has been extended by one year at a reduced rate reflective of the current market. The Siem Helix 2 is now set to remain under contract with Petrobras until mid-December 2022 performing riser-based well intervention activities. The Siem Helix 2 is a purpose-built, advanced well intervention vessel capable of performing a wide range of subsea services including production enhancement, well decommissioning, subsea installation work, offshore crane and ROV operations, offshore construction work and emergency response capabilities.

My comments on this situation can be found here:


Long $HLX
Really appreciate your analysis here, and the previous ones as well. Long time holder of HLX and keeping the faith!
Johnny Skyhook profile picture
Thank you for the excellent analysis.
Badsha Chowdhury profile picture
@Johnny Skyhook Thank you for reading the article.
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