Petrobras (PBR) , a leading energy company in Brazil, and Helix Energy Solutions Group, Inc. (HLX) , a Houston-based provider of oil and gas equipment and services, signed new three-year charter and service contracts for the Siem Helix 1 and Siem Helix 2 vessels. These advanced, riser-based well-intervention vessels will operate in offshore Brazil, with the contracts valued at approximately $786 million. This move continues the companies' longstanding partnership, ensuring that the energy needs in the Santo ...

Financial Performance - Net revenues for the Well Intervention segment were $224.7 million and $441.1 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $154.2 million and $296.7 million for the same periods in 2023[156] - Income from operations for the Robotics segment was $28.4 million and $33.9 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $17.5 million and $22.6 million for the same periods in 2023[156] - The company's total net revenues were $364.8 million and $661.0 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $308.8 million and $558.9 million for the same periods in 2023[156] - Income before income taxes was $47.0 million and $19.0 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $10.4 million and $3.2 million for the same periods in 2023[156] - Consolidated net revenues for Q2 2024 increased by 18% compared to Q2 2023, driven by higher revenues in Well Intervention, Robotics, and Production Facilities segments[181] - Consolidated net revenues increased by 18% to $661.0 million for the six-month period ended June 30, 2024, compared to $558.9 million in the same period in 2023[192] - Well Intervention segment revenues grew by 49% to $441.1 million, driven by higher activity levels[192][194] - Robotics segment revenues increased by 10% to $131.6 million, reflecting steady growth in demand[192] - Well Intervention segment gross profit surged by 2,073% to $56.8 million, primarily due to higher revenues and increased activity[194] - Shallow Water Abandonment segment reported a gross loss of $8.1 million, compared to a gross profit of $28.5 million in the prior year[195] - Free Cash Flow improved to $45.1 million in 2024, up from $18.6 million in 2023, driven by stronger operating cash flows[208] - Well Intervention segment revenues increased by 46% to $224.7 million in Q2 2024 compared to $154.2 million in Q2 2023[209] - Robotics segment revenues grew by 16% to $81.2 million in Q2 2024 from $70.1 million in Q2 2023, driven by higher chartered vessel days and ROV activities[211] - Production Facilities revenues increased by 10% to $25.4 million in Q2 2024 compared to $23.1 million in Q2 2023, reflecting higher oil and gas production[212] - Gross profit for Well Intervention surged by 382% to $33.6 million in Q2 2024 from $7.0 million in Q2 2023[209] - Robotics gross profit increased by 58% to $30.9 million in Q2 2024 from $19.5 million in Q2 2023[209] - Shallow Water Abandonment gross profit declined by 92% to $1.7 million in Q2 2024 from $21.0 million in Q2 2023[215] Segment Performance - Shallow Water Abandonment revenues decreased by 33% in Q2 2024 compared to Q2 2023, with vessel utilization dropping to 58% from 78%[182] - Robotics gross profit increased by $11.4 million in Q2 2024 compared to Q2 2023, driven by higher revenues and profit margin projects[186] - Production Facilities gross profit increased by $1.2 million in Q2 2024 compared to Q2 2023, primarily due to higher segment revenues[187] - Shallow Water Abandonment segment revenues decreased by 38% to $77.7 million due to lower activity levels and softer Gulf of Mexico shelf market conditions[192][193] - Vessel utilization for Shallow Water Abandonment declined to 49% in 2024 from 68% in 2023, reflecting reduced market activity[193] - Shallow Water Abandonment revenues decreased by 33% to $50.8 million in Q2 2024 from $76.3 million in Q2 2023[209] - Chartered vessel days for Robotics increased to 528 days in Q2 2024 from 435 days in Q2 2023[211] - ROV and trencher utilization rose to 76% in Q2 2024 from 58% in Q2 2023[211] Expenses and Costs - Deferred contract costs totaled $24.1 million as of June 30, 2024, compared to $36.6 million as of December 31, 2023, with amortization of $11.0 million and $31.3 million for the three- and six-month periods ended June 30, 2024, respectively[146] - Share-based compensation related to PSUs was $1.5 million and $2.8 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $1.2 million and $2.4 million for the same periods in 2023[151] - Contributions to defined contribution plans totaled $1.4 million and $2.8 million for the three- and six-month periods ended June 30, 2024, respectively, compared to $1.0 million and $2.1 million for the same periods in 2023[154] - Selling, general, and administrative expenses decreased to $22.3 million in Q2 2024 from $24.0 million in Q2 2023, mainly due to lower employee compensation costs[188] - Net other expense was $0.4 million in Q2 2024, compared to $5.7 million in Q2 2023, which included an $11.7 million foreign currency loss related to the devaluation of the Nigerian naira[189] - Net interest expense increased to $5.9 million in Q2 2024 from $4.2 million in Q2 2023, primarily due to interest on 2029 Notes[217] - Foreign currency translation losses of $6.4 million recorded for the six-month period ended June 30, 2024[242] Backlog and Contracts - Consolidated backlog as of June 30, 2024 totaled approximately $873 million, with $443 million expected to be performed in the remainder of 2024[173] - Contracts with Shell, ExxonMobil, Subsea 7, Trident Energy, Petrobras, and the HP I agreement represented 73% of the total backlog as of June 30, 2024[173] - The company's Robotics segment has vessel charters with expiration dates ranging from 2025 to 2030, including the Grand Canyon II (December 2030) and the Grand Canyon III (May 2028)[159] Long-Term Incentives and Share Issuance - The company's 2005 Long-Term Incentive Plan was amended to authorize 7.0 million additional shares for issuance, with approximately 9.5 million shares available as of June 30, 2024[150] Asset Retirement Obligations - Asset retirement obligations (AROs) increased to $64.2 million as of June 30, 2024, from $61.4 million at the beginning of the year, with accretion expense of $2.8 million for the six-month period[159] Market and Growth Outlook - The company expects strong performance in 2024, driven by international demand for decommissioning services and growth in offshore renewables trenching markets[203] - Mid- to long-term growth is anticipated in shallow water decommissioning services in the Gulf of Mexico, despite near-term softness[203] Adjusted EBITDA and Net Debt - Adjusted EBITDA for Q2 2024 was $96.9 million, up from $71.3 million in Q2 2023[176] - Net debt as of June 30, 2024 was $43.6 million, compared to $29.5 million as of December 31, 2023[178] Market Risks - Exposure to market price risks related to oil and natural gas in offshore production facilities[243]

Helix Energy Solutions Group, Inc. (NYSE:HLX) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET Company Participants Brent Arriaga - Chief Accounting Officer, Corporate Controller Kenneth Neikirk - EVP, General Counsel, Corporate Secretary Scotty Sparks - EVP & COO Erik Staffeldt - CFO & EVP Owen Kratz - President, CEO & Director Conference Call Participants Sherif Elmaghrabi - BTIG Josh Jayne - Daniel Energy Partners Operator Thank you for standing by. My name is John, and I'll be your conference o ...

EXHIBIT 99.1 E www.helixesg.com | --- | --- | --- | --- | |----------------------------------------|-------------------------------------------|-----------------------------------------------------------------|--------------------| | | | | | | Helix Energy Solutions Group, Inc. ● | 3505 W. Sam Houston Parkway N., Suite 400 | ● Houston, TX 77043 ● 281-618-0400 ● | fax: 281-618- 0505 | | For Immediate Release | | | 24-011 | | Date: July 24, 2024 | | Contact:Erik Staffeldt Executive Vice President & CFO | | He ...

Oil prices dropped like a rock this week and that hit oil-related stocks hard. Ironically, it was OPEC+ extending production cuts that sent oil lower, which seems a little backward. You can see the change in Brent crude's price below, which is what pushed energy stocks lower. And the oil production and service companies are leveraged plays on oil, so it's no surprise they were heavily impacted. A cut in production, although already in place, should push a commodity like oil higher, but it was the economic w ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Commission File Number: 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) (Sta ...

Helix Energy Solutions Group, Inc. (NYSE:HLX) Q1 2024 Results Conference Call April 25, 2024 10:00 AM ET Company Participants Owen Kratz - CEO Scotty Sparks - COO Erik Staffeldt - CFO Brent Arriaga - CAO Ken Neikirk - General Counsel Conference Call Participants James Schumm - TD Cowen Don Crist - Johnson Rice Sean Mitchell - Daniel Energy Partners Operator Thank you for standing by. My name is Eric and I will be your conference operator today. At this time, I would like to welcome everyone to the First Q ...

E EXHIBIT 99.1 www.helixesg.com Date: April 24, 2024 Contact:Erik Staffeldt Helix Energy Solutions Group, Inc. ● Executive Vice President & CFO Helix Reports First Quarter 2024 Results HOUSTON, TX – Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) reported a net loss of $26.3 million, or $(0.17) per diluted share, for the first quarter 2024 compared to a net loss of $28.3 million, or $(0.19) per diluted share, for the fourth quarter 2023 and a net loss of $5.2 million, or $(0.03) per diluted share, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to__________ Table of Contents Commission file number 001-32936 HELIX ENERGY SOLUTIONS GROUP, INC. (Exact name of registrant as specified in its charter) State or o ...

February 27, 2024 Forward-Looking Statements 2 2 PRESENTATION OUTLINE Agenda Executive Summary (pg. 5) • Operational Highlights (pg. 12) • 2024 Outlook (pg. 27) • Questions and Answers 4 4 Executive Summary 5 EXECUTIVE SUMMARY 12/31/22 9/30/23 12/31/23 12/31/22 49 11% 20% 16% 6% (0.19) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------|-------|------------------|-------|----------------------------|-------|----------|------- ...