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Helix Energy Solutions (HELX)

For a while, Helix Energy Solutions may have wondered if the Gulf Coast would ever see blue skies again. The Houston marine contractor, formerly Cal Dive International, spent $7 million repairing and inspecting its offshore oil and gas properties damaged by hurricanes Katrina and Rita. By the end of 2005, however, those losses had been offset by earnings from its diverse contracting fleet, including 13 vessels acquired from Torch Offshore and Stolt Offshore. In total, Helix brought in $799 million in revenues, a 47% increase from the prior year. And as energy prices rose, the company's oil and gas production facilities regained pre-storm capacity levels, contributing to an average annual profit growth of 132% during the trailing three-year period. Helix expects its pending purchase of Remington Oil & Gas Corporation for $1.4 billion to help buffer against any nasty weather looming on the horizon.

Company Info

2005 Rank

NR

Market Value*
($ Millions)

3,043.5

Sales*
($ Millions)

931.5

Sales Growth
(3-yr. avg. annual)

38.1 %

Profits*
($ Millions)

182.8

Profit Growth
(3-yr. avg. annual)

132.4 %

Return on Inv. Capital (3-yr.)

8.9 %

Share Price
12-Mo. Hi/Lo

46/21

Share Price
As of 4/28/06

39

Return on Equity

25.5 %

P/E Ratio

18

No. of Employees

1,800

Industry Oil & Gas Equipment & Services
CURRENT
MARKET INFO

HELX >

COMPANY WEB SITE >
Location Houston
Phone 281 618-0400
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

Helix Energy Solutions Group operates as an energy services company. The company provides alternative solutions for marginal field development, alternative development plans, field life extension, and abandonment to the oil and gas industry worldwide. Its service lines include diving services; shelf and deepwater construction; robotics; well operations; well engineering and subsurface consulting services; platform ownership; and oil and gas production. The company, with its fleet of 33 vessels and 29 remotely operated vehicles and trencher systems, performs various services that support drilling, well completion, intervention, construction, and decommissioning projects involving pipelines, production platforms, risers, and subsea production systems. It also acquires and operates mature and noncore offshore oil and gas properties, as well as related production facilities; offers survey, engineering, repair, maintenance, and international cable burial services; and performs traditional subsea services, including air and saturation diving, salvage work, and shallow water pipelay. Helix's customers include major and independent oil and gas producers and suppliers; pipeline transmission companies; and offshore engineering and construction firms. As of Dec. 31, 2005, it had estimated proved reserves of 136,073 MMcf of natural gas and 14,873 MBbls of oil and condensate. Helix also owned interests in 354 gross oil wells and 302 gross natural gas wells located in federal and state offshore waters in the Gulf of Mexico, as of the above date. The company was founded in 1990. It was formerly known as Cal Dive International, Inc. and changed its name to Helix Energy Solutions Group in 2006. The company is headquartered in Houston.


Data provided by Capital IQ
 
Owen Kratz

Owen Kratz, 51

Chairman and Chief Executive Officer


Total Compensation*

$ 2,088,587

Total Options Value*

$ 20,880,417

* Fiscal Year 2005

DEGREES HELD
State University of New York - BS


Executive Bio

Owen Kratz is the chairman and CEO of Helix Energy Solutions Group. He was appointed chairman in May, 1998, and has served as CEO since April, 1997. Kratz served as president from 1993 until February, 1999, and as a director since 1990. He served as chief operating officer from 1990 through 1997. Kratz joined Helix Energy Solutions Group in 1984 and has held various offshore positions, including saturation diving supervisor, and has had management responsibility for client relations, marketing, and estimating. From 1982 to 1983, he was the owner of an independent marine construction company operating in the Bay of Campeche. Prior to 1982, he was a superintendent for Santa Fe and various international diving companies and a saturation diver in the North Sea.


Management Team

Key Executives

Owen Kratz; Bart H. Heijermans; James Lewis Connor; Lloyd A. Hajdik; A. Wade Pursell; Martin R. Ferron

Board Directors

William L. Transier; Lovoi, Anthony Tripodo; T. William Porter; Duroc- Bernard J. Danner; Gordon F. Ahalt; Owen Kratz; Martin Ferron


Executive Data provided by Capital IQ