XML 25 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Organization
12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization
Organization
 
Unless the context indicates otherwise, the terms “we,” “us” and “our” in this Annual Report refer collectively to Helix Energy Solutions Group, Inc. and its subsidiaries (“Helix” or the “Company”). We are an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. We provide services primarily in deepwater in the U.S. Gulf of Mexico, North Sea, Asia Pacific and West Africa regions, and are expanding our operations offshore Brazil.
 
Our Operations
 
We seek to provide services and methodologies that we believe are critical to developing offshore reservoirs and maximizing production economics. Our “life of field” services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities (Note 13). Our Subsea Construction results diminished following the sale in 2013 and early 2014 of essentially all of our assets related to this previously reported business segment.
 
Our Well Intervention segment includes our vessels and equipment used to perform well intervention services primarily in the Gulf of Mexico and North Sea regions. Our Well Intervention segment also includes intervention riser systems (“IRSs”), some of which we rent out on a stand-alone basis, and subsea intervention lubricators (“SILs”). Our well intervention vessels include the Q4000, the Q5000, the Well Enhancer, the Seawell, the Helix 534 and the Skandi Constructor, which is a chartered vessel. The Q5000, a newbuild semi-submersible well intervention vessel, commenced operations in the Gulf of Mexico during the fourth quarter of 2015. We currently have under construction another semi-submersible well intervention vessel, the Q7000. We have also contracted to charter the Siem Helix I and the Siem Helix II, two newbuild monohull vessels to be used in connection with our contracts to provide well intervention services offshore Brazil.
 
Our Robotics segment includes remotely operated vehicles (“ROVs”), trenchers and ROVDrills designed to complement offshore construction and well intervention services, and currently operates four chartered ROV support vessels including the Grand Canyon II, which was delivered to us in April 2015.
 
Our Production Facilities segment includes the Helix Producer I (the “HP I”), a ship-shaped dynamic positioning floating production unit vessel, and the Helix Fast Response System (the “HFRS”), which provides certain operators access to our Q4000 and HP I vessels in the event of a well control incident in the Gulf of Mexico. The Production Facilities segment also includes our ownership interest in Independence Hub, LLC (“Independence Hub”). We previously had an ownership interest in Deepwater Gateway, L.L.C. (“Deepwater Gateway”), which we sold for $25 million in February 2016 (Note 5).
 
Discontinued Operations
 
In February 2013, we sold Energy Resource Technology GOM, Inc. (“ERT”), a former wholly-owned U.S. subsidiary that conducted our oil and gas operations in the Gulf of Mexico, for $624 million plus additional consideration in the form of overriding royalty interests in ERT’s Wang well and certain exploration prospects. As a result, we have presented the historical operating results of our former Oil and Gas segment as discontinued operations in the accompanying consolidated financial statements. Results for 2013 reflect the operating results from January 1, 2013 through February 6, 2013 when ERT was sold. There were no material results of operations for our former oil and gas segment subsequent to the sale of ERT.