Profile: PHI Inc (PHII.OQ)
24 Dec 2014
PHI Inc. (PHI), incorporated in 1949, is a provider of helicopter transportation services in the Gulf of Mexico. The Company is engaged in the business of transportation of personnel and, to a lesser extent, parts and equipment, to, from, and among offshore platforms for customers engaged in the oil and gas exploration, development, and production industry, principally in the Gulf of Mexico. PHI is a provider of helicopter transportation services in the Gulf of Mexico. It operates in three segments: Oil and Gas, Air Medical, and Technical Services. It also provides helicopter services to the oil and gas industry internationally, and to non-oil and gas customers and the United States Governmental agencies, such as the National Science Foundation. PHI also provides air medical transportation for hospitals and emergency service agencies, where it operates as an independent provider of medical services. In addition, it performs helicopter maintenance and repair services for customers, primarily to those that own their own aircraft. As December 31, 2011, PHI owned or operated 259 aircraft domestically and internationally, 167 of which were for its Oil and Gas segment, 86 of which were dedicated to its Air Medical segment, and six of which were dedicated to other operations.
Oil and Gas
The Company’s Oil and Gas segment provides helicopter services primarily for the integrated and independent oil and gas production companies transporting personnel and/or equipment to offshore platforms in the Gulf of Mexico. Its customers include Shell Oil Company (Shell), BP America Production Company (BP) ConocoPhillips Company, and ExxonMobil Production Co. and ENI Petroleum. As of December 31, 2011, the Company operated 167 aircraft in this segment. Oil and gas exploration and production companies and other offshore oil service companies use its services primarily for routine transportation of personnel and equipment, to transport personnel during medical and safety emergencies, and to evacuate personnel during the threat of hurricanes and other adverse weather conditions.
The Company classifies its helicopters as light (generally up to six passengers), medium (generally up to 12 passengers) or heavy/transport (up to 19 passengers), each of which serves a different transportation need of the offshore energy industry. The Company’s helicopters have flight ranges up to 495 miles with a 30-minute fuel reserve and thus are capable of servicing a number of the deepwater oil and gas operations from 50 to 200 miles offshore. As of December 31, 2011, of the 167 aircraft dedicated to its Oil and Gas segment, 78 aircraft were classified as medium or heavy/transport. It also operates five aircraft in Antarctica for the National Science Foundation. During the year ended December 31, 2011, approximately 92% of its domestic oil and gas-related revenues was from customer contracts. Operating revenues from the Oil and Gas segment accounted for 66% of consolidated operating revenues during 2011.
The Company provides air medical transportation services for hospitals and emergency service agencies in 17 states using approximately 86 aircraft at 64 separate locations. The Company's Air Medical segment operates primarily under the independent provider model and, to a lesser extent, under the hospital-based model. Its Air Medical operations are headquartered in Phoenix, Arizona. The Air Medical segment’s operating revenues accounted for 32% of consolidated operating revenues during 2011.
The Technical Services segment provides helicopter repair and overhaul services for flight operations customers that own their aircraft. PHI also operates five aircraft for the National Science Foundation in Antarctica under this segment. Operating revenues from the Technical Services segment accounted for 2% of consolidated operating revenues in 2011.
2001 SE Evangeline Thruway
LAFAYETTE LA 70508