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HOUSTON - Helix Energy Solutions Group, Inc. (NYSE:HLX), a profitable offshore energy services provider currently trading near its 52-week low and identified as undervalued by InvestingPro analysis, has been awarded a multi-year contract to provide production enhancement and well abandonment services in the U.S. Gulf of America, according to a press release statement.
The contract, which begins in 2026, includes a minimum commitment for vessel utilization over a three-year period. Under the agreement, Helix will provide either its Q5000 or Q4000 riser-based well intervention vessel, along with intervention riser systems and remotely operated vehicles.
The services will be delivered as part of the Subsea Services Alliance, a strategic partnership between Helix and SLB. The scope of work covers operations ranging from production enhancement to plug and abandonment well services.
Scotty Sparks, Helix’s Executive Vice President and Chief Operating Officer, noted that the contract expands the company’s backlog of well intervention services.
Helix Energy Solutions Group, headquartered in Houston, Texas, provides specialty services to the offshore energy industry with a focus on well intervention, robotics, and decommissioning operations.
The company did not disclose the financial terms of the contract or identify the "major operator" with whom the agreement was signed.
In other recent news, Helix Energy Solutions Group announced its financial results for the second quarter of 2025, which did not meet market expectations. The company reported an earnings per share (EPS) of -$0.02, falling short of the anticipated $0.03. Additionally, Helix Energy’s revenue was $302 million, which was below the forecasted $320.13 million. These figures were closely watched by investors and analysts alike, as they provide insight into the company’s financial health. The market’s reaction was swift, reflecting the disappointment in the earnings report. While there were no updates on mergers or acquisitions, the financial results remain a focal point for stakeholders. Analysts from various firms have been monitoring these developments, although no upgrades or downgrades were reported following the earnings announcement. These recent developments highlight the ongoing challenges faced by Helix Energy Solutions Group.
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