Profile: PHI Inc (PHIIK.OQ)
PHI, Inc., incorporated on August 24, 1994, is engaged in transportation of personnel to, from, and among offshore platforms for customers engaged in the oil and gas exploration, development and production industry. The Company offers these services in various domestic and international markets. Most of its offshore flight operations are concentrated in the Gulf of Mexico. The Company operates through three segments: Oil and Gas, Air Medical, and Technical Services. The Company also provides air medical transportation for hospitals and for emergency service agencies. In addition, it performs helicopter maintenance and repair services, primarily to existing customers that own their own aircraft. The Company owns or operates approximately 265 aircraft domestically and internationally, of which, over 155 belongs to its Oil and Gas segment, over 104 belongs to Air Medical segment and over six are in to other operations. Its principal customers are integrated energy companies and independent exploration and production companies. It also serves energy service companies, hospitals, medical programs, government agencies, and other aircraft owners and operators.
Oil and Gas
The Company's Oil and Gas segment provides helicopter services for the integrated and independent oil and gas production companies transporting personnel, and parts and equipment to offshore platforms in the Gulf of Mexico. Oil and gas exploration and production companies and other offshore oil service companies use the Company's 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 (approximately six passengers), medium (approximately 12 passengers) or heavy/transport (approximately 19 passengers), each of which serves a different transportation need of the offshore energy companies. Medium and heavy helicopters, which can fly in a range of operating conditions, travel over longer distances and carry larger payloads than light helicopters, are required for crew changes on the offshore production facilities and drilling rigs in the deep-water region of the Gulf of Mexico. Its helicopters have flight ranges approximately 570 miles with a 30-minute fuel reserve and serves deep-water oil and gas operations from 50 to 200 miles offshore.
In the United States, the Company provides air medical transportation services for hospitals and emergency service agencies. It provides these services in approximately 20 states. The Company also provides air medical transportation services in the Middle East. Its Air Medical segment operates under the independent provider model and under the traditional provider model. Under the independent provider model, the Company has no contracts and no fixed revenue stream. Under the traditional provider model, it contracts directly with the hospital to provide its medical transportation services.
The Technical Services segment is principally engaged in providing helicopter repair and overhaul services for flight operations customers that own their aircraft. The Company also provides flight services to governmental customers under this segment, including its agreement to operate over six aircraft for the National Science Foundation in Antarctica.
2001 SE Evangeline Trwy
LAFAYETTE LA 70508-2156