Manufacturing, scheduled for the Panama City, Florida facility, is slated to begin in 2025 with final delivery in the second quarter of 2026. (Source: Shutterstock)
Oceaneering International Inc.’s manufactured products segment secured a large contract serving a Gulf of Mexico customer.
Houston-based Oceaneering is contracted to supply electro-hydraulic, steel tube dynamic umbilical totaling approximately 27 kilometers (17 miles) in length for a domestic independent energy client, the company announced June 20.
Manufacturing, scheduled for the Panama City, Florida facility, is slated to begin in 2025 with final delivery in the second quarter of 2026.
The anticipated revenue from the contract is approximately $50 million.
“This contract award reflects the confidence that our customers have in Oceaneering’s ability to deliver manufactured products in a safe and timely manner,” said Shaun R. Roedel, senior vice president of manufactured products, in a release. “We value the trust our customers place in our abilities and we look forward to supporting this exciting project.”
Recommended Reading
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Oxy’s Hollub Drills Down on CrownRock Deal, More M&A, Net-zero Oil
2024-11-01 - Vicki Hollub is leading Occidental Petroleum through the M&A wave while pioneering oil and gas in EOR and DAC towards the goal of net-zero oil.
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
2024-10-11 - As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.