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Helix Energy Solutions Awarded Multi-Year P&A Contract in the North Sea

1. Helix secured a multi-year contract for 34 wells in the UK North Sea. 2. Operations expected to commence in 2026, utilizing Helix-owned assets.

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$6.1412/22 07:19 AM EDTEvent Start
$6.1412/22 07:19 AM EDTLatest Updated
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FAQ

Why Bullish?

Securing a multi-year contract can improve revenue stability and enhance investor confidence. Similar past contracts have positively impacted stock prices in the subsea industry.

How important is it?

The long-term nature of the contract suggests significant future revenue, heavily influencing HLX's market position.

Why Long Term?

This contract progresses to 2026, indicating potential revenue growth and operational stability over several years.

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NEDORIG
HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (“Helix”) (NYSE: HLX) has secured a multi-year contract with a major operator for riserless plug and abandonment (P&A) operations on up to 34 subsea wells in the UK North Sea. The awarded scope of work is scheduled to commence in 2026 and includes the flushing and disconnection of pipelines and well P&A. Helix expects to utilize Helix-owned assets including either the Well Enhancer or the Seawell, purpose-built light well inte.

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