Helix Energy Solutions Group, Inc. (HLX): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde complexe de Helix Energy Solutions Group, Inc. (HLX), une centrale dynamique transformant des paysages énergétiques offshore grâce à des technologies maritimes innovantes et des solutions de service complètes. Cette entreprise de pointe navigue dans des environnements marins complexes avec une expertise inégalée, offrant des services énergétiques offshore intégrés qui s'étendent sur les secteurs critiques, allant de l'exploration traditionnelle du pétrole et du gaz aux projets d'énergie renouvelable émergents. En tirant parti des technologies robotiques avancées, des navires spécialisés et une main-d'œuvre hautement qualifiée, HLX fournit des solutions d'ingénierie sophistiquées qui redéfinissent l'efficacité opérationnelle et les prouesses technologiques dans l'industrie maritime difficile.

Helix Energy Solutions Group, Inc. (HLX) - Modèle commercial: partenariats clés

Alliances stratégiques avec des sociétés d'exploration de pétrole et de gaz offshore

Helix Energy Solutions Group entretient des partenariats stratégiques avec plusieurs sociétés d'exploration offshore clés:

Entreprise partenaire	Focus de partenariat	Valeur contractuelle
BP PLC	Services d'intervention de puits sous-marins	87,3 millions de dollars (2023)
Shell Offshore Inc.	Support de construction en eau profonde	62,5 millions de dollars (2023)
Chevron Corporation	Services de véhicules à distance offshore	45,2 millions de dollars (2023)

Partenariats avec les fabricants de technologies et d'équipements marins

Helix collabore avec des fournisseurs de technologies marines spécialisées:

• TechnipFMC plc - Intégration de l'équipement sous-marin
• Oceseering International, Inc. - Développement de systèmes robotiques
• Kongsberg Gruppen - Technologies avancées de navigation maritime

Relations collaboratives avec les fournisseurs de services énergétiques

Les relations clés des fournisseurs de services comprennent:

Fournisseur de services	Type de service	Valeur du contrat annuel
Schlumberger Limited	Technologies d'intervention bien offshore	104,6 millions de dollars (2023)
Halliburton Company	Services de support de forage offshore	76,9 millions de dollars (2023)

Coentreprises avec des entreprises internationales de soutien maritime

Détails internationaux de coentreprise maritime:

• Global Maritime Ventures B.V. (Pays-Bas) - Opérations de soutien au vent offshore
• Oceanic Marine Solutions Ltd. (Singapour) - Services maritimes Asie-Pacifique
• Maritime Offshore Group (Royaume-Uni) - Support opérationnel de la mer du Nord

Contribution totale des revenus de la société de personnes: 376,5 millions de dollars (2023 Exercice)

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: Activités clés

Entretien et construction des infrastructures énergétiques offshore

Au quatrième trimestre 2023, Helix Energy Solutions Group a déclaré 237,4 millions de dollars en revenus de construction et d'entretien offshore. La société exploite 5 grands navires de construction et 3 navires d'intervention spécialisés pour les projets d'infrastructure offshore.

Type de navire	Nombre de navires	Capacité opérationnelle
Navires de construction	5	Capacité de levage jusqu'à 400 tonnes
Navires d'intervention	3	Eau profonde capable à 10 000 pieds

Services robotiques et intervention sous-marins

Helix exploite 2 systèmes ROV (véhicules à distance à distance) avec des capacités technologiques avancées. L'investissement annuel dans la R&D de la technologie sous-marine était d'environ 12,3 millions de dollars en 2023.

• Capacités d'inspection robotique avancées
• Systèmes de surveillance sous-marine en temps réel
• Technologies d'intervention de précision

Charte de navires et opérations de soutien maritime

La société maintient une flotte de 12 navires de soutien maritime avec un chiffre d'affaires total de 156,2 millions de dollars en 2023. Les taux de charte quotidiens moyens variaient entre 35 000 $ et 45 000 $ par navire.

Support de projet éolien et énergétique renouvelable offshore

Helix a investi 28,7 millions de dollars dans des capacités de soutien aux infrastructures d'énergie renouvelable. Le portefeuille actuel du projet d'énergie renouvelable représente environ 15% du total des revenus de l'entreprise.

Segment d'énergie renouvelable	Investissement	Croissance projetée
Support éolien offshore	18,5 millions de dollars	22% en glissement annuel
Infrastructure renouvelable marin	10,2 millions de dollars	17% en glissement annuel

Services spécialisés de l'ingénierie maritime et technique

La division des services techniques génère 89,6 millions de dollars par an avec 127 professionnels spécialisés de l'ingénierie maritime. Les offres de services comprennent des consultations techniques complexes offshore et des solutions d'ingénierie.

• Conception avancée de l'ingénierie maritime
• Conseil technique offshore
• Évaluation complexe des infrastructures

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: Ressources clés

Navires avancés offshore et équipement marin spécialisé

Composition de la flotte à partir de 2023:

Type de navire	Nombre de navires	Capacité opérationnelle totale
Navires d'intervention en eau profonde	4	25 000 chevaux
Navires de construction offshore	3	18 000 chevaux
Navires de support sous-marin	5	12 500 chevaux

Travail technique et ingénierie hautement qualifié

Statistiques de la main-d'œuvre auprès du quatrième trimestre 2023:

• Total des employés: 1 237
• Ingénieurs: 42% de la main-d'œuvre
• Spécialistes techniques: 28% de la main-d'œuvre
• Expérience moyenne: 12,5 ans

Technologies robotiques sous-marines propriétaires

Détails du portefeuille technologique:

Catégorie de technologie	Nombre de systèmes propriétaires	Plage de profondeur opérationnelle
Véhicules à distance exploités (ROV)	12	3 000 mètres
Véhicules sous-marins autonomes (AUV)	6	2 500 mètres

Infrastructures maritimes étendues et capacités opérationnelles

Actifs d'infrastructure:

• Bas de fonctionnement: 3 (golfe du Mexique)
• Installations d'entretien: 2
• Superficie totale: 45 acres
• Budget opérationnel annuel: 87,4 millions de dollars

Données complètes et systèmes technologiques

Infrastructure technologique:

Catégorie de système	Capacités technologiques	Investissement annuel
Systèmes de gestion des données	Surveillance en temps réel, analyse prédictive	5,2 millions de dollars
Infrastructure de cybersécurité	Cryptage avancé, détection des menaces	3,7 millions de dollars

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: propositions de valeur

Solutions énergétiques offshore intégrées sur plusieurs secteurs

Helix Energy Solutions Group fournit des services énergétiques offshore complets avec une flotte de 9 navires à partir de 2022. Les revenus de la société pour l'exercice 2022 étaient de 644,3 millions de dollars, avec des solutions énergétiques offshore couvrant plusieurs segments de l'industrie.

Segment de service	Contribution des revenus	Marchés clés
Services d'intervention bien	42% des revenus totaux	Golfe du Mexique, mer du Nord
Construction sous-marine	33% des revenus totaux	Régions internationales offshore
Robotique et véhicules à distance	25% des revenus totaux	Infrastructure mondiale en offshore

Capacités technologiques avancées dans les interventions sous-marines

Helix exploite 4 navires d'intervention spécialisés avec des capacités technologiquement avancées. La flotte d'intervention sous-marine de l'entreprise comprend:

• Navire Q7000 avec des systèmes de positionnement dynamique avancé
• Des capacités d'intervention de puits jusqu'à 10 000 pieds de profondeur d'eau
• Robotique intégrée et systèmes de véhicules à distance (ROV)

Services de soutien maritime fiables et efficaces

La société maintient une flotte de 9 navires avec une fiabilité opérationnelle de 95,6% en 2022. Les services de soutien maritime ont généré 215,7 millions de dollars de revenus au cours de l'exercice.

Gestion rentable des infrastructures offshore

Helix Energy Solutions démontre la gestion des coûts:

• Ratio de dépenses de fonctionnement de 68,3% en 2022
• Dépenses en capital de 47,2 millions de dollars pour l'entretien de la flotte
• Améliorations de l'efficacité Réduire les coûts opérationnels de 12% par rapport à l'année précédente

Expertise dans les défis complexes d'ingénierie maritime

L'entreprise emploie 1 247 professionnels techniques avec une expertise spécialisée en génie offshore. Les capacités techniques comprennent:

Capacité d'ingénierie	Spécifications techniques
Profondeur d'intervention sous-marine	Jusqu'à 10 000 pieds
Capacité opérationnelle ROV	3 systèmes ROV avancés
Expertise en équipe d'ingénierie	Expérience de l'industrie moyenne de 15 ans

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: relations clients

Accords contractuels à long terme avec des sociétés énergétiques

En 2024, Helix Energy Solutions Group entretient 37 contrats de service énergétique offshore à long terme actifs avec les grandes sociétés pétrolières et gazières, avec des durées de contrat allant de 2 à 5 ans. La valeur totale du contrat pour 2024 est d'environ 678,3 millions de dollars.

Type de contrat	Nombre de contrats	Valeur totale du contrat
Services de forage offshore	22	412,5 millions de dollars
Services de support sous-marin	15	265,8 millions de dollars

Services de support technique et de consultation dédiés

Helix fournit un support technique 24/7 avec une équipe dédiée de 187 ingénieurs et techniciens spécialisés. Le temps de réponse moyen pour les demandes techniques du client est de 37 minutes.

• Support technique Taille de l'équipe: 187 professionnels
• Évaluation moyenne de satisfaction du client: 4.7 / 5
• Revenus de consultation technique annuelle: 54,6 millions de dollars

Développement de solutions personnalisées pour les besoins spécifiques du client

En 2024, Helix a développé 23 solutions d'énergie offshore spécialisées pour les exigences individuelles des clients, avec un investissement de 42,1 millions de dollars en recherche et en génie personnalisé.

Performance continue et engagement de fiabilité

Helix maintient un Taux de fiabilité opérationnelle de 99,6% à travers les contrats de service offshore. Les mesures de performance de disponibilité de l'équipement démontrent une qualité de service cohérente.

Métrique de performance	2024 performance
Fiabilité opérationnelle	99.6%
Time de disponibilité de l'équipement	99.2%

Engagement proactif de l'innovation technologique

Helix a investi 67,3 millions de dollars dans la recherche et le développement technologiques pour 2024, en se concentrant sur les solutions énergétiques offshore avancées et les technologies de marché émergentes.

• Investissement en R&D: 67,3 millions de dollars
• Brevets de nouvelles technologies déposés: 12
• Équipe d'innovation technologique: 94 ingénieurs

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les clients de l'industrie de l'énergie

Depuis le quatrième trimestre 2023, Helix Energy Solutions Group maintient une équipe de vente directe de 87 professionnels spécialisés dans les services énergétiques offshore. L'équipe génère environ 456,3 millions de dollars de revenus annuels grâce à des stratégies d'engagement des clients ciblées.

Type de canal de vente	Nombre de représentants	Contribution annuelle des revenus
Services énergétiques offshore	52	276,4 millions de dollars
Intervention sous-marine	35	179,9 millions de dollars

Conférences de l'industrie et expositions de technologie maritime

Helix participe à 14 conférences internationales de technologie maritime et énergétique chaque année, avec un investissement marketing estimé à 2,1 millions de dollars.

• Conférence de technologie offshore (OTC)
• Expo sous-marin
• Événements internationaux de la Marine Contractors Association (IMCA)

Plateformes numériques en ligne et site Web d'entreprise

Le site Web de l'entreprise (www.helixesg.com) génère 42 000 visiteurs mensuels uniques et facilite environ 87,6 millions de dollars de demandes de services numériques et d'initiations contractuelles.

Réseau de services marins et centres opérationnels régionaux

Helix exploite 7 centres opérationnels régionaux sur des sites maritimes stratégiques, avec un investissement total d'infrastructure de 124,5 millions de dollars.

Emplacement	Capacité opérationnelle	Revenus de services annuels
Golfe du Mexique	3 centres	213,7 millions de dollars
mer du Nord	2 centres	98,3 millions de dollars
Asie-Pacifique	2 centres	76,5 millions de dollars

Initiatives stratégiques de développement commercial

En 2023, Helix a exécuté 6 accords de partenariat stratégique, générant des opportunités de contrat potentielles d'une valeur de 342,8 millions de dollars.

• Collaboration éolienne éolienne offshore
• Partenariat technologique de la robotique sous-marine
• Extension du service de déclassement

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: segments de clientèle

Compagnies d'exploration du pétrole et du gaz offshore

Helix Energy Solutions sert de grandes sociétés d'énergie offshore avec des caractéristiques spécifiques du segment de la clientèle:

Type de client	Potentiel de revenus annuel	Utilisation du service
Grandes compagnies pétrolières internationales	87,6 millions de dollars	68% de pénétration du service
Entreprises d'exploration indépendantes	42,3 millions de dollars	52% d'utilisation du service

Développeurs de projets d'énergie renouvelable

Helix cible les segments du marché des énergies renouvelables avec des services spécialisés:

• Support d'infrastructures éoliennes offshore
• Services d'installation d'énergie renouvelable marin
• Gestion de l'infrastructure sous-marine

Segment renouvelable	Taille du marché	Part de marché de l'hélice
Projets de vent offshore	1,2 milliard de dollars	7.3%
Infrastructure renouvelable marin	456 millions de dollars	5.9%

Sociétés de gestion des infrastructures marines

Helix fournit des services d'infrastructure marine spécialisés:

Catégorie de service	Revenus annuels	Clientèle
Construction sous-marine	124,5 millions de dollars	37 clients d'entreprise
Gestion des actifs marins	93,2 millions de dollars	24 entreprises internationales

Fournisseurs de services énergétiques internationaux

Répartition du segment du marché mondial des services d'énergie:

Région géographique	Revenus de service	Pénétration du marché
Amérique du Nord	215,7 millions de dollars	42%
Europe	87,3 millions de dollars	19%
Moyen-Orient	56,4 millions de dollars	12%

Gouvernement et institutions de recherche

Segments de services spécialisés pour la recherche et les organismes gouvernementaux:

Type d'institution	Valeur du contrat annuel	Portée du service
Agences de recherche fédérales	22,6 millions de dollars	Évaluation de la technologie maritime
Centres de recherche maritime d'État	15,3 millions de dollars	Études d'infrastructure offshore

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: Structure des coûts

Dépenses en capital élevé pour la maintenance des navires et des équipements

Au cours de l'exercice 2023, Helix Energy Solutions Group a déclaré des dépenses en capital de 52,4 millions de dollars pour la maintenance des navires et de l'équipement. Les coûts de maintenance de la flotte marine de l'entreprise ont été structurés comme suit:

Catégorie d'actifs	Frais de maintenance ($ m)
Navires de support offshore	23.6
Navires de construction sous-marine	18.9
Robotique et équipement d'intervention à distance	9.9

Main-d'œuvre et investissements techniques de talents

Les dépenses totales du personnel pour 2023 étaient de 198,3 millions de dollars, avec la rupture suivante:

• Coûts de main-d'œuvre directs: 142,7 millions de dollars
• Salaires spécialisés techniques: 37,6 millions de dollars
• Formation et développement: 18 millions de dollars

Dépenses opérationnelles et en carburant pour la flotte marine

Les coûts opérationnels de la flotte marine en 2023 ont totalisé 87,5 millions de dollars:

Catégorie de dépenses	Coût ($ m)
Dépenses de carburant	42.3
Logistique de l'équipage	22.7
Entretien opérationnel des navires	22.5

Investissements technologiques de recherche et de développement

Les dépenses de R&D pour 2023 étaient de 24,6 millions de dollars, axées sur:

• Technologie de la robotique sous-marine: 9,2 millions de dollars
• Initiatives de transformation numérique: 7,8 millions de dollars
• Technologies de détection avancées: 7,6 millions de dollars

Coûts de conformité et d'adhésion réglementaire

Les dépenses liées à la conformité pour 2023 s'élevaient à 16,9 millions de dollars:

Catégorie de conformité	Coût ($ m)
Certifications de sécurité	6.4
Conformité réglementaire environnementale	5.7
Adhésion à la réglementation maritime	4.8

Helix Energy Solutions Group, Inc. (HLX) - Modèle d'entreprise: Strots de revenus

Services d'affrètement des navires offshore

En 2023, Helix Energy Solutions Group a rapporté des revenus de 224,3 millions de dollars de navires. La société exploite une flotte de 16 navires de soutien offshore, avec des tarifs de charte quotidiens allant de 25 000 $ à 45 000 $ selon le type de navire et les spécifications du contrat.

Catégorie de navires	Nombre de navires	Taux quotidien moyen	Contribution annuelle des revenus
Navires de support offshore	16	$35,000	201,6 millions de dollars
Navires spécialisés	4	$45,000	22,7 millions de dollars

Contrats d'intervention sous-marine et de technologie robotique

Les revenus du contrat d'intervention sous-marine pour 2023 ont totalisé 156,7 millions de dollars. Les services technologiques robotiques de l'entreprise ont généré 42,5 millions de dollars supplémentaires de travaux de contrat spécialisés.

• Contrats d'intervention robotique: 42,5 millions de dollars
• Services d'inspection sous-marine: 87,3 millions de dollars
• Déploiements de technologie robotique avancée: 26,9 millions de dollars

Services de maintenance de soutien et d'infrastructure maritimes

La maintenance des infrastructures marines a généré 183,4 millions de dollars en 2023, avec des segments de services clés, notamment le support de plate-forme offshore et les services de construction marine.

Segment de service	Revenu	Pourcentage du total
Prise en charge de la plate-forme offshore	112,6 millions de dollars	61.4%
Services de construction maritime	70,8 millions de dollars	38.6%

Solutions de conseil technique et d'ingénierie

Les revenus de consultation technique ont atteint 67,2 millions de dollars en 2023, les solutions d'ingénierie spécialisées contribuant de manière significative au portefeuille de services de la société.

• Conseil d'ingénierie offshore: 39,5 millions de dollars
• Services de conception technique: 27,7 millions de dollars

Revenus de soutien au projet d'énergie renouvelable

Le support du projet d'énergie renouvelable a généré 54,6 millions de dollars en 2023, reflétant l'élargissement de la participation de l'entreprise dans les infrastructures énergétiques durables.

Segment d'énergie renouvelable	Revenu
Support éolien offshore	37,2 millions de dollars
Conseil des infrastructures renouvelables	17,4 millions de dollars

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Value Propositions

You're looking at the core value Helix Energy Solutions Group, Inc. (HLX) offers its clients as of late 2025. It's all about specialized, high-value offshore execution, moving beyond just day rates to delivering project certainty.

Cost-effective well intervention alternative to traditional drilling rigs

Helix Energy Solutions Group, Inc. positions its well intervention fleet as a more efficient alternative for subsea work compared to bringing in a full-scale drilling rig. This is supported by high utilization and rate improvements on key assets. For instance, the Siem Helix 1 and Siem Helix 2 began operating at higher contractual rates on their Petrobras contract in Brazil during the second quarter of 2025. Furthermore, the company secured new awards that provide over half of its well intervention fleet with contracted work for multiple years entering 2025, suggesting strong forward demand for these specialized services.

Integrated services spanning the full offshore asset lifecycle

The value proposition covers the entire life of an asset, from initial intervention to final abandonment. This integration is evident in the segment performance and contract wins. The Robotics segment, for example, secured an 800-day minimum commitment trenching contract in the North Sea, which is set to start in 2027. This shows long-term commitment across different service lines.

Support for global energy transition via renewables and decommissioning

Helix Energy Solutions Group, Inc. is actively capturing value from the energy transition, particularly through decommissioning work. The company has a 3-year decommissioning agreement with Exxon. While the acceleration of UK decommissioning work was anticipated to start in 2025, current market conditions suggest it will now ramp up in 2026, with large P&A (Plug and Abandonment) project tenders underway for that year. This focus on regulatory-driven abandonment work provides a stable revenue base.

Operational flexibility through adaptive, purpose-built vessels

The ability to quickly adapt and deploy specialized vessels is a key differentiator. You see this flexibility in how they managed vessel downtime and mobilized assets. In Q1 2025, the company performed planned regulatory dockings of several Robotics fleet vessels, including the Q7000, which then commenced a 400-day Shell campaign in Brazil late in the first quarter. The company also made the decision to accelerate the Q4000's planned 2026 regulatory docking into 2025 to ensure a clear operational runway for 2026. The fleet generated 536 aggregate chartered vessel days in Q3 2025.

Maximizing production of existing oil and gas reserves

The core Well Intervention segment is focused on keeping existing fields productive, which is crucial when new exploration spending is cautious. The company's Q3 2025 results highlight strong earnings from this focus, with Adjusted EBITDA reaching $103.7 million for the quarter. Management had previously guided that the core well intervention segment alone was expected to improve Adjusted EBITDA by up to $100 million in 2025 over 2024. The company's overall financial health, as of Q3 2025, showed $370.0M in cash and negative net debt of -$58.9M, providing the financial footing to execute these complex production-maximizing projects.

Here's a quick look at the operational and financial snapshot from the latest reported quarter, Q3 2025, which underpins these value propositions:

Metric	Value (Q3 2025)	Context/Comparison
Revenue	$377 million	Up from $302 million in Q2 2025.
Adjusted EBITDA	$103.7 million	Up from $42.4 million in Q2 2025.
Net Income	$22.1 million	Turnaround from a $2.6 million net loss in Q2 2025.
Diluted EPS	$0.15	Beat consensus estimate of $0.17 in Q3 2025.
Free Cash Flow	$22.6 million	Up from $(21.6) million in Q2 2025.
Total Liquidity	$404.7M-$405.0M	Strong balance sheet position.
Well Intervention Utilization (Q1 2025)	67%	Compared to 90% in Q1 2024.

The company's full-year 2025 guidance reflects confidence in sustaining this value delivery, projecting revenues between $1.23 billion and $1.29 billion, with an anticipated Adjusted EBITDA range of $240 million to $270 million. This forward-looking view is supported by the fact that the company has already secured multi-year contracts on vessels like the Q5, Q7, and SH1.

You can see the focus on high-value work through these operational highlights:

• Secured 3-year Exxon decommissioning agreement.
• Q7000 began 400-day Shell campaign in Brazil.
• Well Intervention segment expected to add up to $100 million of EBITDA in 2025 over 2024.
• FY 2025 Free Cash Flow is likely to exceed $200 million based on earlier projections.
• The company repurchased over $40 million in shares entering 2025.

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Customer Relationships

The customer relationships for Helix Energy Solutions Group, Inc. are anchored in securing multi-year commitments from major energy players, which provides revenue visibility and supports asset utilization.

Long-term, high-value contracts with fixed day rates

The relationship structure heavily favors long-term agreements, often with minimum utilization guarantees, which implies a form of fixed-rate commitment for the contracted asset availability.

For example, a multi-year contract awarded in August 2025, commencing in 2026, includes a minimum commitment of vessel utilization split over three years for services in the U.S. Gulf of America. Similarly, a new multi-year contract with Shell Offshore Inc. commencing in 2025 includes an increased minimum number of days annually. The nature of these agreements is further evidenced by the Q7000 commencing a 400-day contract in Brazil at the end of March 2025.

Contract Type/Metric	Specific Example/Detail	Timeframe/Commitment
Multi-Year Contract (Well Intervention/Abandonment)	Undisclosed major operator, U.S. Gulf of America	Minimum commitment split over three years, commencing 2026
Multi-Year Contract (Well Intervention)	Shell Offshore Inc., U.S. Gulf of Mexico	Increased minimum number of days annually, commencing 2025
Long-Term Vessel Contract	Q7000 in Brazil	400-day contract, commenced March 2025
Robotics Contract Backlog	Trenching contract at Hornsea Wind Farm	300+ day commitment, backlog extending through 2027

Direct sales and bidding process for large-scale projects

Securing these long-term roles involves a direct engagement process, often resulting in the provision of integrated service packages. The company highlights its collaborative approach through strategic alliances as part of securing these deals.

Contracts often call for the provision of specific, high-specification equipment alongside services, such as the Q5000 or Q4000 riser-based well intervention vessel, a 10k or 15k Intervention Riser System (IRS), and remotely operated vehicles. These large-scale projects are frequently delivered as part of the Subsea Services Alliance, a strategic partnership between Helix Energy Solutions Group, Inc. and SLB.

Dedicated project management and operational support teams

The contracts explicitly include the provision of dedicated support functions, ensuring the complex offshore operations are managed end-to-end. This is a critical component of the value delivered alongside the physical assets.

• Project management and engineering services are included in major contracts.
• The Q7000 experienced fewer transit and mobilization days in Q3 2025, indicating better operational scheduling.
• Overall Well Intervention vessel utilization was 72% in Q2 2025.
• Overall ROV utilization decreased to 63% in Q3 2025 compared to 77% in Q3 2024.
• Integrated vessel trenching reached 210 days in Q3 2025, up from 157 days in the prior quarter.

High-touch relationship management with major IOC/NOC executives

Helix Energy Solutions Group, Inc. maintains relationships with key operators globally, including in the U.S. Gulf of America, Brazil, Nigeria, and the UK North Sea. Specific named customers underscore the high-touch nature of these relationships.

The company has secured agreements with major entities such as:

• Shell Offshore Inc, with an extended well intervention agreement.
• Petrobras, with the Siem Helix 2 operating on a new contract that commenced early January 2025.
• Trident, with a contract extension for the Siem Helix 1.
• ExxonMobil, for a three-year framework agreement for shallow water plug and abandonment services.

Investor relations and transparency via conference participation

The company actively engages with the financial community to maintain transparency regarding its operational performance and backlog, which directly impacts customer confidence in long-term commitments.

Helix Energy Solutions Group, Inc. reported its third quarter 2025 results on October 22, 2025, with the call on October 23, 2025, at 9:00 a.m. Central Time. The company reported net income of $22.1 million for Q3 2025 and Adjusted EBITDA of $103.7 million for the same period. The full-year 2025 revenue guidance was approximately $1.3 billion.

Event Type	Event Name/Focus	Date(s) in 2025
Earnings Call	Third Quarter 2025 Results Review	October 23, 2025
Investor Conference	Daniel Energy Partners New York Executive Series	December 3, 2025
Investor Conference	Capital One Securities 20th Annual Energy Conference	December 9, 2025
Investor Conference	Raymond James & Associates 46th Annual Institutional Investor Conference	March 4, 2025
Investor Access Day	NYSE Energy & Utilities Virtual Investor Access Day	March 20, 2025

The company maintained strong liquidity, ending Q2 2025 with $320 million in cash and cash equivalents.

Finance: review Q3 2025 backlog conversion rate against the $1.36 B-$1.50 B full-year 2025 revenue guidance target mentioned in February 2025.

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Channels

Direct deployment of specialized vessel fleet to offshore basins is the core channel for Helix Energy Solutions Group, Inc. (HLX) service delivery.

The deployment strategy reflects current contract status and operational adjustments made in response to market conditions throughout 2025.

• Robotics Segment operated seven vessels globally in Q2 2025 for trenching, ROV support, and site survey work.
• Six of the Robotics vessels were deployed on renewables-related projects.
• Well Intervention segment includes seven purpose-built well intervention vessels.
• The Q4000 vessel underwent accelerated regulatory maintenance, expected to take approximately 30 days in the third quarter of 2025.
• The Seawell vessel was warm stacked during Q2 2025 compared to being fully utilized in Q2 2024.
• Five vessels in the Shallow Water Abandonment segment were stacked in response to slowing demand.

Here's a look at key vessel deployment and contract status as of mid-2025:

Vessel/Asset	Primary Region/Contract	Contract Status/Duration	Utilization/Notes (2025)
Siem Helix 1 & 2	Brazil (Petrobras)	Three-year contracts through 2027	Operated at higher contractual rates in Q2 2025.
Q7000	Brazil (Shell)	Commenced 400-day campaign late March 2025	High utilization noted.
Q5000 & Q4000	Gulf of America / Nigeria	Q5000 backlog looks solid; Q4000 utilized in Nigeria, returned to GoM.	Strong utilization noted for Q5000 and Q4000 in GoM.
Trenchers (Robotics)	North Sea / Asia Pacific	Four trenchers contracted through 2025	Two in North Sea, two in Asia Pacific.
North Sea Trenching Spread	North Sea (Renewables)	New contract extends through 2030	800-day spread starting from 2027.

Global operating bases in key regions serve as the logistical hubs for this direct deployment model.

• Helix Energy Solutions Group, Inc. provides specialty services in regions including the Gulf of America, North Sea, Brazil, the Asia Pacific, and West Africa.
• The company is headquartered in Houston, Texas.
• The Robotics segment utilized IROV boulder grabs in the Baltic Sea.

The direct sales force targets major energy company procurement through securing long-term, high-value contracts, which is a critical channel for revenue stability.

• Secured a 3-year framework agreement with Exxon for shallow water decommissioning in the Gulf of America.
• The company has multi-year contracts extending through 2026 and 2027 with clients like Petrobras and Shell.
• The full-year 2025 revenue guidance was tightened to a range of US$1.23 billion to US$1.29 billion.
• Q3 2025 revenue was reported at $376.96 million.

Online presence is maintained for corporate and investor information dissemination.

• Corporate and investor information is accessible via the company website at www.helixesg.com.
• Investor presentations are made publicly available on the website, such as those for the Daniel Energy Partners New York Executive Series on December 3, 2025, and the Capital One Securities 20th Annual Energy Conference on December 9, 2025.

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Customer Segments

You're looking at the core clientele for Helix Energy Solutions Group, Inc. (HLX) as of late 2025, which is heavily influenced by long-term contract visibility. The company's total revenue for the trailing twelve months ending September 30, 2025, stood at $1.31 Billion USD, underpinned by a contract backlog of $1.4 billion reported in mid-2025. For the full fiscal year 2025, management is forecasting revenue in the range of $1.2 billion to $1.3 billion. This revenue base is derived from a global set of energy producers and infrastructure developers across key geographies including the U.S. Gulf of Mexico, North Sea, Brazil, and Asia Pacific.

Major International Oil Companies (IOCs) and National Oil Companies (NOCs)

IOCs and NOCs form the bedrock of the Well Intervention and Production Facilities segments, driving demand for both production enhancement and end-of-life services. You see direct, multi-year commitments from major players securing asset availability. For instance, Helix Energy Solutions Group, Inc. has multi-year contracts with Shell (SHEL), including two specific agreements covering the Q5000 and Q7000 vessels. The Siem Helix 2 vessel is currently under contract for Petrobras, and the Siem Helix 1 has contracted work extending into the second half of 2025 with Trident, followed by a three-year contract with Petrobras. These long-term commitments provide significant revenue visibility, which is crucial when spot market volatility is a concern.

• Secured a 400-day project with Shell in Brazil.
• Secured a multi-year contract with a major operator in the U.S. Gulf of America, commencing in 2026 with a minimum commitment split over three years.
• The Q5000 vessel is committed to a Shell contract in the U.S. Gulf of America starting in 2025, involving an increased minimum number of days annually.

Offshore Wind Farm Developers needing cable trenching/burial

This segment, primarily served by the Robotics division, represents the energy transition focus for Helix Energy Solutions Group, Inc. Demand here is driven by the need for subsea cable installation and site clearance for renewable energy infrastructure. In 2023, revenues derived from offshore renewable energy contracts accounted for 42% of the global Robotics segment revenues, showing the segment's importance. The company secured a significant 300-day trenching contract for the Hornsea Free Wind Farm. Furthermore, a multi-year agreement was signed with NKT A/S to service the T3600 subsea trencher, signaling continued partnership in this growing sector. The company also secured an 800-day minimum commitment trenching contract in the North Sea for its Robotics segment.

Operators facing regulatory decommissioning obligations (P&A)

Regulatory mandates are a key, non-discretionary driver for the Shallow Water Abandonment and Well Intervention segments, ensuring a baseline level of decommissioning work regardless of new oil and gas investment cycles. Helix Energy Solutions Group, Inc. is actively serving this need, evidenced by a three-year framework agreement with Exxon for decommissioning in the Gulf of America, which was executed in mid-2025. This focus on plug and abandonment (P&A) services is expected to generate meaningful work starting around 2027, though planning and engineering are occurring now. In Q4 2024, the Shallow Water Abandonment segment generated $38 million in revenue, illustrating the current scale of this customer base.

Deepwater and ultra-deepwater field operators globally

Operators in deepwater and ultra-deepwater regions, particularly the Gulf of Mexico and Brazil, are key customers for the high-specification riser-based well intervention vessels like the Q5000 and Q7000. The Q7000 successfully operated for three vessels under longer-term contracts in Brazil during Q2 2025. The company's operations span the Gulf of Mexico (deepwater and shelf), Brazil, West Africa, and Asia Pacific. The Well Intervention segment generated $226 million in revenue in the fourth quarter of 2024, reflecting activity levels from these deepwater clients, even with some planned off-hire periods in 2025 for maintenance.

Here's a quick look at how some of these key customer relationships and associated contracts stack up as of late 2025:

Customer Type/Name	Service Focus	Key Contract/Commitment Detail	Associated Segment
Major IOCs/NOCs (General)	Well Intervention, Production Enhancement	Forecasted 2025 Revenue Range: $1.2B to $1.3B	Well Intervention
Shell (SHEL)	Well Intervention	Multi-year contracts for Q5000 and Q7000 vessels	Well Intervention
Petrobras	Well Intervention	Siem Helix 2 on contract; Siem Helix 1 has three-year P&A contract	Well Intervention
Exxon	Decommissioning	Three-year framework agreement in the Gulf of America	Shallow Water Abandonment
Offshore Wind Developers	Trenching/Site Clearance	800-day minimum commitment trenching contract in the North Sea	Robotics
NKT A/S	Renewables Infrastructure	Four-year agreement to service the T3600 subsea trencher	Robotics

The company's ability to secure multi-year work, like the 800-day North Sea trenching deal, helps buffer against the softness seen in some areas, such as the Gulf of America intervention market in the second half of 2025. Finance: draft 13-week cash view by Friday.

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Cost Structure

You're looking at the hard costs that keep Helix Energy Solutions Group, Inc.'s specialized fleet running, which is defintely where the majority of their spending goes. These are not small, variable expenses; these are the massive, ongoing commitments of an offshore asset owner.

High fixed costs related to vessel ownership and maintenance are a defining characteristic of Helix Energy Solutions Group, Inc.'s cost structure. These costs are incurred regardless of immediate contract volume, representing the capital intensity of owning and maintaining a fleet of purpose-built well intervention vessels like the Q4000 and Q5000. The company's own reports suggest their purpose-built vessels achieve competitive advantages through their lower operating costs compared to alternatives like traditional drilling rigs, but the underlying fixed costs remain substantial. The cost structure is directly tied to maintaining asset readiness.

Crew and personnel costs for specialized offshore operations are a significant component, given the need for highly skilled teams to operate complex subsea intervention systems and remotely operated vehicles (ROVs). While a specific total personnel cost for 2025 isn't explicitly detailed, the impact of these costs is seen in operating income fluctuations. For instance, in Q1 2025, lower idle vessel costs in the North Sea provided a positive offset to operating income compared to Q1 2024, indicating that personnel and standby costs for non-productive time are a major variable within the fixed structure.

Capital expenditure planning for 2025 reflects ongoing investment in asset integrity and compliance. Capital additions (Capex) are projected to be between $65 million and $75 million for the full year 2025. This projection includes approximately $26 million specifically allocated for regulatory certification costs, which are essential for maintaining operational status for key assets.

The balance sheet carries significant obligations that translate directly into periodic cash outflows. Debt service on funded debt was approximately $319 million as of Q1 2025. More precisely, consolidated long-term debt stood at $311.1 million at March 31, 2025, which, when offset by cash, resulted in negative Net Debt of $58.9 million at that same date.

Fleet optimization efforts directly influence short-term costs through mobilization and stacking activities. The decision to stack the Seawell at a low cost base for the remainder of 2025 is a direct cost management action. Furthermore, operating cash flows in Q1 2025 were negatively impacted by higher regulatory certification costs related to the dockings of the Q7000 and the Seawell during that quarter, demonstrating the expense associated with preparing or pausing high-specification assets.

Here's a look at some key financial metrics that frame the cost environment for Helix Energy Solutions Group, Inc. as of the first half of 2025:

Financial Metric	Amount (Q1 2025)	Amount (Q2 2025)	Context/Notes
Revenue	$278,064 thousand	$302 million	Q1 is unaudited thousand, Q2 is stated in millions.
Adjusted EBITDA	$52.0 million	$42.4 million	Reflects operational performance before certain items.
Operating Cash Flow	$16.4 million	$(17.1) million	Negative cash flow in Q2 due to lower earnings and working capital.
Free Cash Flow	$11.954 million	$(21.6) million	Negative FCF in Q2 due to lower operating cash flows.
Cash and Cash Equivalents	$369,987 thousand	$320 million	Strong liquidity position maintained.
Funded Debt (Approx.)	$319 million	N/A	As per Q1 2025 reporting.

The operational costs are also influenced by vessel utilization rates, which directly affect the absorption of fixed vessel costs:

• Well Intervention vessel utilization in Q1 2025 was 67%.
• Well Intervention vessel utilization in Q2 2025 was not explicitly stated but was lower than Q1 2025's 67% due to lower segment revenues.
• Chartered vessel activity in Robotics decreased to 244 days (or 67%) in Q1 2025, down from 333 days (or 74%) in Q1 2024.

Finance: draft 13-week cash view by Friday.

Helix Energy Solutions Group, Inc. (HLX) - Canvas Business Model: Revenue Streams

You're looking at how Helix Energy Solutions Group, Inc. (HLX) actually brings in the money, which is definitely a mix of big, lumpy contracts and steady service work. Honestly, the revenue picture for late 2025 shows a clear strategic pivot, even if the day-to-day can be a bit bumpy.

The company's official outlook for the full year 2025 revenue is set in the range of $1.23 billion to $1.29 billion. This guidance reflects the market realities seen through the first three quarters, balancing strong contract wins against some operational downtime earlier in the year.

The core of the revenue generation comes from a few distinct areas, which you can see clearly when we look at the quarterly performance data. The mix is shifting, which is key to understanding their strategy moving forward.

• Well Intervention service fees are historically the largest component, but as we saw in Q2 2025, they can be volatile.
• Robotics and trenching day rates represent a high-margin segment that provides a nice counter-balance to the larger intervention work.
• Production enhancement and subsea construction service fees are bundled within the segments, often tied to maximizing existing reserves.

The strategic emphasis is heavily leaning into end-of-life work. For instance, the decommissioning project revenue, specifically Plug and Abandonment (P&A) activities, was central to the Q2 2025 revenue strategy, accounting for 59% of revenue for that period. That's a massive focus shift.

Here's a quick look at how the main service segments stacked up in the middle of the year, showing that volatility you asked about:

Segment	Q2 2025 Revenue (Millions USD)	Q3 2025 Revenue (Millions USD)
Well Intervention	$157	$193
Robotics	$86	$99
Shallow Water Abandonment (Decommissioning Focus)	$51	Data not explicitly separated for Q3 in the same way

To be fair, the Well Intervention segment's revenue jumped from $157 million in Q2 2025 to $193 million in Q3 2025, showing that contract timing really moves the needle there. Also, the Robotics segment showed steady growth, moving from $86 million in Q2 to $99 million in Q3, driven by trenching utilization.

The company's focus on production maximization, which was cited as making up 24% of the Q2 2025 revenue strategy, is largely captured by the higher-rate utilization of vessels like the Siem Helix 1 and Siem Helix 2 in places like Brazil. These long-term contracts help smooth out the revenue profile, even if the overall segment is categorized under the broader Well Intervention umbrella.

Finance: draft 13-week cash view by Friday.