Helix Energy volta a lucrar no meio do ano de 2018

Helix Energy Returns to Profit Mid-Year

Written by Paulo Nogueira

Published on 25/07/2018 at 02:36

Updated on 25/07/2018 at 04:20

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Helix Energy Solutions, An Oil Services Company Based in Houston, Returns to Profit in The Second Quarter of The Year

Supported by higher revenues from its Well Intervention and Robotics businesses, Helix Energy Solutions returns to profitability in the second quarter of the year. Helix reported on Monday a net income of US$ 17.8 million in the second quarter of 2018, compared to a net loss of US$ 6.4 million in the same period of 2017 and a net loss of US$ 2.6 million in the first quarter of 2018.

The Profit

The net income for the six-month period ending June 30, 2018, was US$ 15.2 million, compared to a net loss of US$ 22.8 million in the six-month period ending June 30, 2017. For the second quarter of 2018, Helix’s revenues increased to US$ 204.6 million, up from US$ 150.3 million in the same period last year.

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Revenues from Well Intervention increased by 43% in the second quarter of 2018 compared to the second quarter of 2017. While vessel utilization was similar year over year, total vessel days increased by 105 days in the second quarter of 2018 with the introduction of Siem Helix vessels in 2017. Additionally, the second quarter of 2018 included 120 days of IRS rental unit utilization, whereas the second quarter of 2017 had zero days of utilization.

Robotics revenue increased by 18% in the second quarter of 2018 compared to the second quarter of 2017. Vessel utilization rose to 70% in the second quarter of 2018, compared to 57% in the second quarter of 2017. ROV asset utilization fell to 38% in the second quarter of 2018 from 42% in the second quarter of 2017; however, the second quarter of 2018 included 95 additional trenching days compared to the same quarter in 2017.

Owen Kratz, President and CEO of Helix, stated: “Our results for the second quarter of 2018 reflect a strong performance from our Well Intervention business and improved performance from our Robotics business.

Seasonal Recovery

“Our Well Intervention business benefited from seasonal recovery in the North Sea and continued operational improvements in Brazil. Our robotics business has improved quarter over quarter, with increased trenching operations and backlog for the remainder of 2018. We are encouraged by the improvements in our results compared to the last quarter and remain committed to managing the uncertainties that this market may present in the second half of the year.”

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Helix Energy Returns to Profit Mid-Year

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The Profit

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