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Helix Energy Solutions Group, Inc. (HLX) provides specialty services to the offshore energy industry primarily in Brazil, the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions.
The company operates through three segments: Well Intervention, Robotics, and Production Facilities.
The company engineers, manages, and conducts well construction, intervention, and abandonment operations in water depths ranging from 200 to 10,000 feet; and operates remotely operated vehicles (ROVs), trenchers, and ROVDrills for offshore construction and well intervention services.
It also offers well intervention; intervention engineering; production enhancement; inspection, repair, and maintenance of production structures, trees, jumpers, risers, pipelines, and subsea equipment; and life of field support services.
In addition, the company provides reclamation and remediation services; well plugging and abandonment services; pipeline abandonment services; and site inspections.
Further, it engages in the installation of flowlines, control umbilicals, and manifold assemblies and risers; trenching and burial of pipelines; installation and tie-in of riser and manifold assembly; commissioning, testing, and inspection activities; and provision of cable and umbilical lay, and connection services.
Additionally, the company offers oil and natural gas processing facilities and services to oil and gas companies; and fast response system services.
The company serves independent oil and gas producers and suppliers, pipeline transmission companies, alternative energy companies, and offshore engineering and construction firms.
Shares of HLX have broken out of their bullish "cup and handle." We expect higher share prices for this stock.
Entry Point: $10.80
Stop Loss: $10.25
Trading Range: $5.44 - $10.89
Target Price: $11.98
HLX closed at $8.11
