Greg [Unknown]'s questions to Helix Energy Solutions Group Inc (HLX) leadership • Q3 2024
Question
An analyst named Greg asked for specifics on the Q4000 contract in West Africa, including the timeline for option exercises and mobilization details, and also inquired about the revenue mix within the Robotics segment between renewables and oil and gas.
Answer
COO Scott Sparks stated that a decision on the Q4000 options is not expected until Q1 2025 and confirmed the vessel's mobilization took about 67 days, with a sizable demobilization fee also included in the contract. Executive Brent Arriaga clarified that renewables typically account for about half of the Robotics business, which translates to roughly 10% of Helix's total company revenue. Sparks also confirmed that the trenching assets are predominantly used for renewables projects.