Helix Energy Solutions Group, Inc. (NYSE:HLX) Q1 2018 Earnings Conference Call - Preliminary Transcript

Apr 24, 2018 • 10:00 am ET


Helix Energy Solutions Group, Inc. (NYSE:HLX) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to the Helix energy first quarter 2018 earnings conference call. During the presentation all participants will be in a listen only mode. Afterwards we will conduct the question and answer session. If you have a question, please press the one followed by the four on your telephone at any time during the call. If at any time during the conference, you need to reach an operator, please press star zero. As reminders call is being recorded Tuesday, April 24 2018. I would now like to turn the conference over to Mr. Eric Stafford CFO, please go ahead, sir.

Erik Staffeldt

Good morning, everyone. And thanks for joining us today on our conference call for our q1 2018 earnings release. Participate on this call for Helix today is Owen Kratz our CEO, Scotty Sparks our COO, Alisa Johnson, our general counsel and Geoff Wagner, our chief Commercial Officer and myself. Hopefully you've had an opportunity to review our press release, and the related slide presentation released last night. If you'd not have a copy of these materials, both can be accessed through the investor relations page on our website at www.helixesg.com. The press release can be accessed under the press releases tab, and the slide presentation can be accessed by clicking on today's webcast icon.

Before we begin a prepared remarks, Alisa Johnson will make a statement regarding forward looking information. Alisa?

Alisa Johnson

During this conference call, we anticipate making certain projections and looking statements based on our current expectations of statements in this call or in the associated presentation other than statements as historical facts are forward looking statements that are made under the safe harbour provisions of the private securities litigation Reform Act of 1995. Our actual future results may differ materially from our projections and forward looking statements due to a number and variety of factors, including those set forth in our slide two and the

Our annual report on form 10-k for the year ended December 31 2017. Also during this call certain non-GAAP financial disclosures may be made. And according to what the SEC rules the final slide, different presentation materials provide a reconciliation of certain non-GAAP measures to comparable gap financial measures. The reconciliation along with this presentation, the earnings press release, our annual report and the replay of this broadcast are available on our website. Owen?

Owen Kratz

Morning everyone. We're going to start with Slide 5 which is the high level summary of the Q1 results. Our first quarter 2018 results were comparable to our fourth quarter 2017 results. Our quarter was positively impacted by a first full quarter of operations from both vessels in Brazil and good utilisation as well as execution from well ups in the Gulf of Mexico. This was offset by the normal seasonal slowdown and will last UK and Kenyan UK. Revenues in Q1 2018 where's the

Flat to Q4 2017 coming in at 164 million and increase in well intervention revenues primarily as a