Profile: Bristow Group Inc (BRS.N)
Bristow Group Inc. (Bristow Group), incorporated in 1969, is a provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. Bristow Group has transportation operations in the North Sea, Nigeria and the United States Gulf of Mexico, and in most of the other offshore energy producing regions of the world, including Alaska, Australia, Brazil, Russia and Trinidad. Bristow Group conducts its business in one segment: Helicopter Services. The Helicopter Services segment operations are conducted primarily through five business units: Europe, West Africa, North America, Australia, and Other International. During the fiscal year ended March 31, 2012, the Company generated 82% and 93% of its consolidated operating revenue and business unit operating income, respectively, from operations outside of the United States.
Bristow Group provides helicopter services to a base of integrated, national and independent offshore energy companies. The Company’s clients charter its helicopters primarily to transport personnel between onshore bases and offshore production platforms, drilling rigs and other installations. Its small helicopters operate primarily over the shallow waters of Nigeria and the United States Gulf of Mexico. Worldwide there are more than 8,000 production platforms and 700 offshore rigs.
Bristow Group operates its Europe business unit from four bases in the United Kingdom, one base in Holland and three bases in Norway. The Company’s Europe operations are managed out of its facilities in Aberdeen, Scotland. Based on the number of aircraft operating, it is a provider of helicopter services in the North Sea. Its client base in this business unit consists primarily of integrated and independent offshore energy companies. In addition to its offshore energy helicopter services, it is a civil supplier of search and rescue (SAR) services to the Netherlands Oil and Gas Exploration and Production Association. Its subsidiary, Bristow Helicopters Ltd. provides SAR services in the North of Scotland. Also, the Company owns a 50% interest in each of FBS Limited (FBS), FB Heliservices Limited (FBH), and FB Leasing Limited (FBL), collectively referred to as the FB Entities, United Kingdom corporations, which principally provide pilot training, maintenance and support services to the British military under a contract. FBS and FBL own and operate a total of 64 aircraft.
As of March 31, 2012, all of the aircraft in Bristow Group West Africa business unit operates in Nigeria, where it is a provider of helicopter services to the offshore energy industry. The Company deploys a combination of small, medium and large aircraft in Nigeria and service a client base consists of integrated offshore energy companies. It has seven operational bases, with the largest bases located in Escravos, Lagos, Port Harcourt and Warri. The marketplace for its services had been concentrated in the oil rich swamp and shallow waters of the Niger Delta area.
Bristow Group operates its North America business unit from seven operating facilities in the United States Gulf of Mexico and three operating facilities in Alaska. The Company is a supplier of helicopter services in the United States Gulf of Mexico. Its client base in this business unit consists of international, independent and integrated offshore energy companies. The United States Gulf of Mexico is an offshore energy producing region with approximately 3,400 production platforms and 100 drilling rigs. The shallow water platforms are unmanned and are serviced by small aircraft. The deepwater platforms are serviced by medium and large aircraft. Its principal work in Alaska utilizes five aircraft that provide daily support to the Trans-Alaska pipeline, along with providing small and medium twin engine contract and charter service to onshore and offshore exploration, development and production activities on the North Slope and in the Cook Inlet.
Bristow Group is a provider of helicopter services to the offshore energy industry in Australia, where it has five bases located in Western Australia, three in Victoria, one in South Australia and one in Queensland. These operations are managed from the Company’s Australian head office facility in Perth, Western Australia. Its operating bases are located in the vicinity of the offshore energy exploration and production fields in the North West Shelf, Browse and Carnarvon basins of Western Australia and the Bass Straits in Victoria, where its fleet provides helicopter services to offshore energy operators. It also provides airport management services on Barrow Island in Western Australia. Its client base in Australia consists primarily of integrated offshore energy companies. It also provides engineering support to the Republic of Singapore Air Force’s fleet of helicopters at their base in Oakey, Queensland.
As of March 31, 2012, Bristow Group conducted its Other International operations in the Baltic Sea, Brazil, Egypt, Equatorial Guinea, Guyana, Malaysia, Mexico, Russia, Trinidad, and Turkmenistan. As of March 31, 2012, the Company and its unconsolidated affiliates operated a mixture of small, medium, and large aircraft in these markets. The Company owns a 42.5% interest in Lider, a provider of helicopter and corporate aviation services in Brazil. Lider has five primary operating units comprising helicopter service, maintenance, chartering, ground handling, and aircraft sales. Lider’s fleet includes 53 rotor wing and 33 fixed wing aircraft. As of March 31, 2012, Lider management introduced large helicopters into their operational portfolio. Lider also has a vast network of over 20 bases distributed in Brazil, including locations in Macae, Rio de Janiero, Sao Tome, Urucu and Vitoria. As of March 31, 2012, it leased nine medium and two large aircraft to Lider.
The Company owns a 25% interest in Petroleum Air Services (PAS), an Egyptian corporation, which provides helicopter and fixed wing transportation to the offshore energy industry. In addition, spare fixed wing capacity is chartered to tourism operators. PAS owns 45 aircraft and operates from multiple locations. The remaining 75% interest in PAS is owned by Egyptian General Petroleum Corporation. The Company leases five aircraft to MHS Aviation Berhad, which are operated from bases in Kerteh and Bintulu and provide services to international offshore energy companies. In addition, it has a Technical Services Agreement with MHS Aviation Berhad, under which it provides a number of supervisory engineers and other technical services as required.
The Company leases 13 aircraft to Heliservicio Campeche S.A. de C.V. (Heliservicio) to provide helicopter services to its clients. Heliservicio services clients primarily from bases located in Mexico City, Cuidad del Carmen, Poza Rica, Tampico, Dos Bocas and Vera Cruz. The Company operates seven large aircraft from three locations on Sakhalin Island, where it provides helicopter services to international and domestic offshore energy companies. The Company operates 10 medium aircraft that are used to service its clients who are primarily engaged in offshore energy activities. It has one base located at Trinidad’s airport at the Port of Spain. In the Baltic Sea, Equatorial Guinea, and Guyana, the Company operates one, two, and three aircraft, respectively, that are used to service the clients who are engaged in offshore energy activities. It also operates two aircraft through its 51% interest in Turkmenistan Helicopters Limited, a Turkmenistan corporation that provides helicopter services to an international offshore energy company from a single location. In India, its dry lease one aircraft to an Indian helicopter operator from one location.
Bristow Group Inc
Fourth Floor, 2103 City West Blv
HOUSTON TX 77042