Helix Energy Secures Multi-Year Deal With Shell Subsidiary For Gulf Of Mexico Operations
Portfolio Pulse from Nabaparna Bhattacharya
Helix Energy Solutions Group, Inc. (NYSE:HLX) has secured a multi-year agreement with Shell Offshore Inc, a unit of Shell PLC (NYSE:SHEL), to provide well intervention services in the U.S. Gulf of Mexico starting in 2025. The contract reflects improving market conditions and increased demand for Helix's services. Helix will use its Q5000 vessel and other equipment, in collaboration with Schlumberger (NYSE:SLB), to deliver integrated operations. HLX shares have gained over 4.9% in the past month.
September 04, 2024 | 3:08 pm
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POSITIVE IMPACT
Helix Energy Solutions has secured a multi-year contract with Shell Offshore for well intervention services in the Gulf of Mexico, indicating strong demand for its services. This could positively impact HLX's stock price.
The multi-year contract with Shell Offshore signifies a stable revenue stream and increased demand for Helix's services, which is likely to positively impact HLX's stock price. The collaboration with Schlumberger further strengthens its service offerings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Helix Energy's growth through the Invesco Oil & Gas Services ETF, which includes HLX.
The inclusion of HLX in the Invesco Oil & Gas Services ETF provides investors with indirect exposure to Helix's growth prospects, potentially benefiting PXJ's performance.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
Shell Offshore, a unit of Shell PLC, has entered into a multi-year agreement with Helix Energy for well intervention services in the Gulf of Mexico, indicating Shell's continued investment in the region.
While the contract with Helix Energy shows Shell's ongoing investment in the Gulf of Mexico, it is a routine operational agreement and may not significantly impact Shell's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Schlumberger is involved in the Helix-Shell contract through the Subsea Services Alliance, which may enhance its service offerings in the Gulf of Mexico.
Schlumberger's involvement in the Helix-Shell contract through the Subsea Services Alliance may enhance its service offerings, but the impact on SLB's stock price is likely to be minimal in the short term.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30