Oilfield services company
Oceaneering International Inc.
) has entered into a deal with U.S. energy behemoth,
), to purvey a production control umbilical.
DAWSON GEOPHYS (DWSN): Free Stock Analysis
EXTERRAN HLDGS (EXH): Free Stock Analysis
OCEANEERING INT (OII): Free Stock Analysis
EXXON MOBIL CRP (XOM): Free Stock Analysis
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Per the agreement, Oceaneering will provide an electro-hydraulic,
steel tube umbilical for the development of the Julia oil field,
which is based in the Gulf of Mexico. The umbilical has a total
length of roughly 22.5 kilometers.
Oceaneering is planning to manufacture the product at its
facility located in Panama City, Florida. The delivery is
projected to be in the first half of 2015.
Oceaneering added that the umbilical is expected to provide
electrical power signals, hydraulic control fluids and chemicals,
for operating and monitoring the subsea wells and manifold in the
Last month, Oceaneering inked a deal with Italian oil and gas
contractor Saipem to provide ten subsea production control
umbilicals and two electrical power cables for the development of
the Burullus West Delta Deep Marine Phase IXa project, which is
based offshore Egypt.
Houston, Texas-based Oceaneering primarily serves the global
offshore oilfield industry by providing engineered products and
services. The company also offers inspection works, subsea
products and services. Moreover, Oceaneering provides
technological skills to the aerospace and defense sectors.
Oceaneering currently carries a Zacks Rank #3 (Hold), implying
that it is expected to perform in line with the broader U.S.
equity market over the next one to three months.
However, in the oilfield services sector, two firms that are
expected to significantly outperform the broader U.S. equity
market over the next one to three months are
Exterran Holdings Inc.
Dawson Geophysical Company
). Both the firms currently retain a Zacks Rank #1 (Strong Buy).