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Helix Energy Solutions Group Inc . (NYSE:HLX), a $1.24 billion market cap energy services company currently trading near its 52-week low, has announced an extension to a key strategic alliance, according to a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company appears undervalued at current levels, making this development particularly noteworthy for value investors tracking the most undervalued stocks. The Houston-based oil and gas services company has amended its existing agreement with OneSubsea LLC and other Schlumberger (NYSE:SLB) companies to continue their collaboration on subsea well intervention systems.
The original strategic alliance agreement, which was established on January 5, 2015, aimed to design, develop, manufacture, promote, market, and sell integrated equipment and services on a global scale. The amendment extends the term of the alliance for an additional year, now set to expire on January 5, 2026. With revenue of $1.34 billion in the last twelve months and healthy year-over-year growth of 7.74%, the company maintains a strong financial position with a current ratio of 2.29, indicating robust liquidity to support its operations.
This extension signifies the ongoing commitment between Helix and its alliance partners to advance their joint efforts in the subsea intervention sector. The detailed terms of the amendment were not disclosed in the filing but are referenced in Exhibit 10.1 attached to the 8-K report.
The collaboration brings together Helix’s expertise in offshore energy services with OneSubsea’s, Cameron Lux V Sarl’s, OneSubsea UK Limited’s, Schlumberger Technology Corporation’s, Schlumberger B.V.’s, and Schlumberger Oilfield Holdings Ltd.’s capabilities in subsea technologies. The alliance is positioned to support the evolving needs of the oil and gas industry, with a focus on enhancing the efficiency and effectiveness of subsea well interventions.
Helix’s decision to extend the alliance reflects its strategy to strengthen partnerships and leverage shared technology and expertise to improve service offerings. The extension is based on an amendment agreement signed on Monday, with the SEC filing made today to inform shareholders and the public.
The information in this article is based on the SEC filing by Helix Energy Solutions Group Inc. and does not include any speculative content or subjective assessment. The purpose of the alliance and the extension is to continue the development and marketing of subsea well intervention systems, which are crucial for the maintenance and optimization of offshore oil and gas production. InvestingPro analysts have identified multiple additional growth catalysts and financial metrics for HLX, available in the comprehensive Pro Research Report, which provides deep-dive analysis of the company’s operational and financial performance, along with detailed peer comparisons and expert insights.
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