Oceaneering International to Supply Equipment for OCTP Block Project Development
Mar 25 15
Oceaneering International, Inc. has signed a contract with ENI Ghana Exploration and Production Ltd., Vitol and GNPC, to supply equipment for the Offshore Cape Three Points, or OCTP, Block project development in West Africa. Oceaneering's scope of work under this contract is to supply electro-hydraulic, steel tube umbilicals totaling approximately 51 kilometers (32 miles) in length. This contract adds over $100 million to its Subsea Products backlog. Product manufacturing is planned to be performed at Oceaneering's umbilical facility in Panama City, Florida and is expected to commence in the second quarter of 2015 and be completed in the fourth quarter of 2017.
Ceaneering International, Inc. Appoints Steven A. Webster as Director and Member of Both the Compensation Committee and the Nominating and Corporate Governance Committee
Mar 17 15
On March 17, 2015, the board of directors of Oceaneering International, Inc. appointed Steven A. Webster as a director and member of both the compensation committee and the nominating and corporate governance committee of the board. Mr. Webster will be named as a nominee by the board for election as a director at Oceaneering's 2015 annual meeting of shareholders. Mr. Webster, age 63, has served as Co-Managing Partner of Avista Capital Partners LP since he co-founded that firm in July 2005.
Oceaneering International, Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-24-2015
Mar 17 15
Oceaneering International, Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-24-2015 . Venue: Roosevelt New Orleans Hotel, 130 Roosevelt Way, New Orleans, Louisiana, United States. Speakers: M. Kevin McEvoy, Chief Executive Officer and Director.
Oceaneering International, Inc. Announces Executive Changes
Feb 19 15
Oceaneering International, Inc. announced that on February 19, 2015, Jerold J. DesRoche, a member of the Board of Directors of Oceaneering gave written notice to the Board that he would not stand for re-election and that he was retiring and resigning as a member of the Board effective upon the election of directors at Oceaneering's 2015 annual meeting of shareholders. On February 19, 2015, the Board appointed Roderick A. Larson as President and Chief Operating Officer. Mr. Larson joined Oceaneering in May 2012 as its Senior Vice President and Chief Operating Officer. M. Kevin McEvoy will continue to serve as Oceaneering's Chief Executive Officer (CEO).
Oceaneering International, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015
Feb 11 15
Oceaneering International, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company generated net income of $102,471,000 or $0.99 per diluted share compared to $93,433,000 or $0.86 per diluted share a year ago. Revenue was $918,927,000 compared to $894,798,000 a year ago. Income from operations was $152,239,000 compared to $136,753,000 a year ago. Income before income taxes was $149,156,000 compared to $136,399,000 a year ago. Capital expenditures, including acquisitions were $85,395,000 compared to $113,156,000 a year ago. EBITDA was $213,085,000 compared to $187,599,000 a year ago.
For the year, the company generated net income of $428,329,000 or $4.00 per diluted share compared to $371,500,000 or $3.42 per diluted share a year ago. Revenue was $3,659,624,000 compared to $3,287,019,000 a year ago. Income from operations was $628,330,000 compared to $545,116,000 a year ago. Income before income taxes was $623,477,000 compared to $542,336,000 a year ago. Capital expenditures, including acquisitions were $426,671,000 compared to $393,590,000 a year ago. EBITDA was $857,671,000 compared to $746,204,000 a year ago.
For the year 2015, the company expects net income in the range of $310,000,000 to $350,000,000. The company expects EBITDA in the range of $725,000,000 to $800,000,000. The company expects depreciation and amortization in the range of $250,000,000 to $265,000,000. The company is resetting EPS guidance to a range of $3.10 to $3.50.
For the first quarter of 2015, the company is estimating EPS of $0.58 to $0.62.