Oceaneering Press Releases
February 23, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today that T. Jay Collins, President and Chief Executive Officer, will be a participant on the Oil Service Capital Equipment Panel at the 10th Annual Energy Conference hosted by Simmons & Company in Las Vegas, NV on Tuesday, March 2, 2010 at 12:50 p.m. Eastern Time.
The conference handout will be accessible after the close of the market on Friday, February 26, 2010, through the Investor Relations link at Oceaneering’s website, www.oceaneering.com. There will be no webcast of the panel discussion.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
PR 1049
February 23, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced the promotion of M. Kevin McEvoy to Executive Vice President and Chief Operating Officer. In this capacity, Mr. McEvoy will have the responsibility for all of Oceaneering’s business operations.
Mr. McEvoy has been with Oceaneering for 31 years, serving most recently as Executive Vice President. He started his offshore career as an officer in the U.S. Navy working in the areas of diving, salvage, and submarine rescue. Kevin has held a variety of progressively more responsible domestic and international positions in marketing, administration, and operations.
T. Jay Collins, President and Chief Executive Officer, stated, “I am pleased to have such a capable and experienced individual as Kevin to take over the additional operating responsibilities for our two largest business segments, Remotely Operated Vehicles and Subsea Products. I am confident he will continue to provide excellent leadership as we respond to the increasing demand for our products and services.”
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; E-Mail investorrelations@oceaneering.com.
PR 1051
February 22, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced that its Board of Directors has approved a share repurchase program under which the company may repurchase up to six million shares of its common stock on a discretionary basis. Six million shares constitute 11% of the company’s approximately 55 million outstanding common shares. Today’s closing price for OII shares was $59.63 per share.
The program calls for the repurchases to be made in open market or in privately negotiated transactions from time to time in compliance with applicable laws, rules, and regulations, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, applicable legal requirements, and other relevant factors. The timing and amount of any repurchases will be determined by management based on its evaluation of these factors. Oceaneering expects that any shares repurchased will be held as treasury stock for future use. The program does not obligate Oceaneering to repurchase any particular number of shares.
T. Jay Collins, President and Chief Executive Officer, stated, “Oceaneering has a strong balance sheet, and its operations are generating a significant amount of free cash flow. We are continuing to pursue our growth strategy and are looking for opportunities. As we have done in the past, we will use the newly authorized share repurchase program to acquire company shares whenever the relative values are compelling, balanced against other strategic options.”
Statements in this press release that express a belief, expectation, or intention are forward looking. The forward-looking statements in this press release include the statements concerning Oceaneering’s: determination of the timing and amount of any repurchases; and expectation that repurchased shares will be held as treasury stock for future use. These forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially from those indicated in the forward- looking statements are risks and uncertainties related to: industry conditions; prices of crude oil and natural gas; Oceaneering’s ability to obtain, and the timing of, new projects; changes in customers’ operational plans or schedules; contract cancellations or modifications; difficulties executing under contracts; and changes in competitive factors. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. For a more complete discussion of these and other risk factors, please see Oceaneering’s annual report on Form 10-K for the year ended December 31, 2008 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; E-Mail investorrelations@oceaneering.com.
PR 1050
February 17, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported fourth quarter and annual earnings for the periods ended December 31, 2009.
Full Press Release: [PDF Link]
PR 1048
January 27, 2010 – Oceaneering International, Inc. (NYSE: OII) announced it will release its fourth quarter and annual 2009 earnings on Wednesday, February 17 after 5:00 p.m. Eastern (4:00 p.m. Central).
A conference call to discuss these results and the Company’s future business outlook is scheduled for Thursday, February 18 at 11:00 a.m. Eastern (10:00 a.m. Central). This call is being webcast by Thomson Reuters and can be accessed at Oceaneering’s website at www.oceaneering.com/investor-relations/. An archived replay will be available for two weeks starting one hour after the call.
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; E-Mail investorrelations@oceaneering.com.
PR 1047
January 26, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today that Marvin J. Migura, Senior Vice President and Chief Financial Officer, will deliver a presentation at the 2010 Credit Suisse Energy Summit in Vail, CO on Tuesday, February 2, 2010.
The presentation slides will be accessible after the close of the market on Friday, January 29, 2010, through the Investor Relations link at Oceaneering’s website, www.oceaneering.com. There will not be a webcast of the presentation.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
PR 1046
January 4, 2010 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today it has commissioned the construction of a dive support vessel (DSV) with an estimated capital cost of $17 million. Oceaneering expects delivery of the 200 foot by 46 foot vessel from a U.S. Gulf Coast shipyard late in the fourth quarter of 2010. The new vessel will replace the Ocean Project, which was built in 1972.
This state-of-the-art DSV will be U.S. flagged and outfitted to perform subsea inspection, repair, and maintenance (IRM) services and support construction operations in the Gulf of Mexico. The vessel will have built-in diving equipment, including a dive control system and decompression chambers, to maximize the availability of deck space for job specific equipment and to ensure safe working conditions. It will have accommodations for 50 personnel and be equipped with a 40-ton crane, a working moon pool, and a four-point mooring system enabling operations in 700 feet of seawater.
T. Jay Collins, President and CEO, stated, “This purpose-built DSV will allow us to continue to support demand for our shallow water IRM and construction support services. There are over 3,500 platforms and approximately 20,000 miles of pipelines in use in the Gulf of Mexico that we believe will need servicing for the indefinite future.”
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering International, Inc. cautions that statements in this press release which are forward-looking involve risks and uncertainties that may impact Oceaneering’s actual results. The forward-looking statements in this press release concern the estimated capital cost to construct a dive support vessel; the estimated vessel shipyard delivery date; and belief that in use platforms and pipelines in the Gulf of Mexico will need servicing for the indefinite future. Although Oceaneering’s management believes that the expectations reflected in this forward-looking statement are reasonable, Oceaneering can give no assurance that the expectations will prove to have been correct. The statement is made based on various underlying assumptions and is subject to numerous uncertainties and risks, including without limitation, changes in vessel design or construction schedule, contract cancellation, change orders and other modifications, and difficulties executing on the vessel construction project. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see Oceaneering’s annual report on Form 10-K for the year ended December 31, 2008 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
PR 1045
December 30, 2009 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today that Marvin J. Migura, Senior Vice President and Chief Financial Officer, will deliver a presentation at the Pritchard Capital Partners 2010 Energize Conference in San Francisco, CA on Wednesday, January 6, 2010.
The presentation slides will be accessible after the close of the market on Tuesday, January 5, 2010, through the Investor Relations link at Oceaneering’s website, www.oceaneering.com. There will not be a webcast of the presentation.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
PR 1044
December 1, 2009 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today that T. Jay Collins, President and Chief Executive Officer, will deliver a presentation at the Capital One Southcoast 2009 Energy Conference in New Orleans, LA on Tuesday, December 8, 2009.
The presentation slides will be accessible after the close of the market on Friday, December 4, 2009, through the Investor Relations link at Oceaneering’s website, www.oceaneering.com. There will not be a webcast of the presentation.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.
For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
PR 1043
October 28, 2009 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported earnings for the third quarter ended September 30, 2009. On revenue of $484 million, Oceaneering generated net income of $49.8 million, or $0.90 per share.
Full Press Release: [PDF Link]
PR 1042
