Latest Subsea Stories

HOUSTON, July 24, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) today reported second quarter 2012 revenue of $1.5 billion, up 22 percent from the prior-year quarter. Diluted earnings per share were $0.46 compared to $0.39 in the prior-year quarter. Total inbound orders were $1.4 billion and included $878.2 million in Subsea Technologies orders. Backlog for the Company was $5.2 billion, including Subsea Technologies backlog of $4.3 billion. "We saw...

HOUSTON, July 20, 2012 /PRNewswire/ -- Deep Down, Inc. (OTC QB: DPDWD), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services today announced they have received multiple contracts from an international operator and a major international controls manufacturer for the manufacture of flying leads and associated services worth in excess of $2.3 million; pending finalization of engineering design for one of...

HOUSTON, Texas, July 18, 2012 /PRNewswire/ -- Deep Down, Inc. (the "Company") (OTC QB: DPDWD), announced today that its ticker symbol will change from 'DPDW' to 'DPDWD' for the next 20 days following the completion of a 1-for-20 reverse stock split announced by the Company on July 17, 2012. After the 20th business day, the ticker symbol will revert back to its original symbol DPDW. About Deep Down, Inc. Deep Down, Inc. is an oilfield services company serving the worldwide...

HOUSTON, July 17, 2012 /PRNewswire/ -- Wright's Well Control Services (WWCS) completed a riserless subsea plug & abandonment (P&A) using tubing to pull out of the hole from a Multi-Service Vessel (MSV) in 1,250' WD in the Gulf of Mexico. DOF Subsea USA provided marine and subsea services. New tools where custom engineered specifically for this project and successfully deployed. One of the initial challenges addressed by the WWCS team was the one-of-a-kind tree found at the...

SHANGHAI, July 13, 2012 /PRNewswire-Asia/ -- In 2011, the global offshore engineering equipment orders has amounted to 69 billion RMB, an increase of 130% to 2010, which is a promising market prospect in the development of offshore oil and gas exploration, mining equipment field. May 7, 2012, the Ministry of Industry officially announced that the government made it clear that China will step up efforts to the cultivation of offshore engineering equipment, including high-end...

ZUG, Switzerland, July 12, 2012 /PRNewswire/ -- Noble Corporation (NYSE: NE) today announced that the Company has entered into a three-year term drilling contract with Anadarko Petroleum Corporation (NYSE: APC) for the Noble Bob Douglas, one of Noble's new ultra-deepwater drillships currently under construction at the Hyundai Heavy Industries Co. Ltd. (HHI) shipyard in Ulsan, South Korea. The drillship, which is being constructed on a fixed price basis, is expected to be utilized...

HOUSTON, July 5, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with Statoil for the manufacture and supply of subsea production equipment to support the Gullfaks South field development. The contract has an estimated value of $200 million in revenue to FMC Technologies. Gullfaks South will be developed as a fast-track project in blocks 34/10 and 33/12 in the North Sea, in water depths between 425 and 720 feet (130-220...

HOUSTON, June 4, 2012 /PRNewswire/ -- Cameron (NYSE: CAM) has signed an agreement with CNOOC for the supply of subsea production systems in support of the "Panyu 35-1/2" deepwater gas field developments in the South China Sea. The contract is valued at approximately $100 million and the scope of supply includes six subsea production trees, production controls, one manifold, associated subsea equipment, rental tooling and service support. Deliveries are scheduled to commence in...

HOUSTON, May 30, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that Maryann T. Seaman, Senior Vice President and Chief Financial Officer, will address attendees at the following event: Event: 2012 RBC Capital Markets Global Energy & Power Conference The Ritz-Carlton New York, Battery Park...

HOUSTON, May 23, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE:FTI) announced today that it has signed two five-year contracts with Island Offshore Management AS to supply Light Well Intervention (LWI) services for use by Statoil in the North Sea, contingent on approval from Statoil's partners. Each contract contains options for two, two-year extensions. FMC's LWI services enable cost effective intervention and maintenance operations to be performed on existing subsea...