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HOUSTON - Helix Robotics Solutions Limited, the U.K. robotics division of Helix Energy Solutions Group, Inc. (NYSE:HLX), a company currently showing strong financial health with a current ratio of 2.28, has entered into a long-term cooperation and frame agreement with NKT A/S to support the new T3600 subsea trencher. According to InvestingPro data, Helix maintains moderate debt levels with a debt-to-equity ratio of 0.42, suggesting financial flexibility for new projects.
The agreement covers installation, offshore operations, project engineering, and maintenance of the T3600, which is designed to be a high-powered subsea trencher. Helix will provide a support vessel equipped with the T-1200 Jet Trencher, two work-class remotely operated vehicles, and a full survey spread with personnel.
The initial commitment includes 800 days of vessel operations over four years, starting in 2027, with extension options available. The vessel and equipment will support NKT’s offshore cable burial and construction activities.
"We are thrilled to execute another long-term agreement with NKT, this time for the new T3600 trencher and T-1200 trenching spread," said Scotty Sparks, Executive Vice President and Chief Operating Officer at Helix, according to the company’s press release.
NKT A/S is a designer, manufacturer and installer of power cable solutions. The collaboration aims to enhance reliability and efficiency of energy infrastructure by combining Helix’s robotics and offshore expertise with NKT’s experience in power cable solutions.
Helix Energy Solutions Group, headquartered in Houston, Texas, provides specialty services to the offshore energy industry, focusing on well intervention, robotics and decommissioning operations. The company supports the global energy transition through maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields, and supporting renewable energy developments.
In other recent news, Helix Energy Solutions Group reported its Q1 2025 earnings, revealing an unexpected earnings per share (EPS) of $0.02, which exceeded the forecasted loss of $0.0081. However, the company’s revenue for the quarter fell short of expectations, coming in at $278 million compared to the anticipated $286.37 million. The company maintains a strong financial position, supported by a robust backlog of $1.4 billion and cash equivalents of $370 million. In another development, Helix Energy completed a $30 million share repurchase in the second quarter of 2025. Furthermore, Raymond James downgraded Helix Energy’s stock rating from Strong Buy to Outperform, citing a reduced activity forecast in the North Sea for 2025. Despite these challenges, the company remains optimistic about future improvements, particularly in 2026, according to Raymond James. Additionally, Helix Energy’s shareholders elected new directors and ratified KPMG as their auditor for 2025 during their Annual Meeting.
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