Oilfield services company
Oceaneering International Inc.
) has entered into a contract for a period of 3 years to use
Normand Flower - a multi-service subsea support vessel. This
vessel is owned by Norway's Solstad Offshore ASA. The term of the
contract is likely to begin in fourth quarter 2013 after the
arrival of the vessel for work in the Gulf of Mexico (GoM).
DAWSON GEOPHYS (DWSN): Free Stock Analysis
EXTERRAN HLDGS (EXH): Free Stock Analysis
GULFMARK OFFSHR (GLF): Free Stock Analysis
OCEANEERING INT (OII): Free Stock Analysis
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Oceaneering also announced that the vessel will undergo some
modifications to boost its project capabilities as well as
reconfiguration to accommodate two of its high-specification work
The overall length of Normand Flower is approximately 305 feet.
The vessel includes a Class 2 dynamic positioning system,
accommodations for 85 personnel, a helideck, a 150-ton active
heave compensated crane and a working moonpool.
Oceaneering will use this vessel to enhance its subsea
intervention services in the ultra-deep waters of the GoM and
other international markets. These services comprise inspection,
maintenance and repair projects, and hardware installations.
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, three 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
GulfMark Offshore Inc.
). All three firms currently retain a Zacks Rank #1 (Strong Buy).