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Last $53.09 USD
Change Today -0.31 / -0.58%
Volume 1.1M
OII On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

11911 FM 529

Houston, TX 77041

United States

Phone: 713-329-4500

Fax: 713-329-4951

nitial term of five years, which began in the third quarter of 2008, and which it has extended to July 2016. The company provides ROV tooling, asset integrity services and installation and workover control system services. It also provides other chartered vessels and one barge on an as-requested basis from its customer. The customer for this contract has exercised its options to extend the contract to January 2017. In March 2013, the company commenced a five-year charter for a Jones Act-compliant multi-service support vessel that it is using in the U.S. Gulf of Mexico. The company has outfitted the vessel, which it has renamed the Ocean Alliance, with two of its high-specification work-class ROVs. In January 2015, the company commenced a two-year multi-service vessel bareboat charter agreement with a customer for the use of the Ocean Alliance in the U.S. Gulf of Mexico. In 2013, the company commenced a three-year charter for the Normand Flower, a multi-service subsea marine support vessel. The company performs subsea intervention and hardware installation services, principally in the U.S. Gulf of Mexico and offshore Angola, from two owned and six chartered multiservice deepwater vessels that have Oceaneering ROVs onboard. These services include subsea well tie-backs; pipeline/flowline tie-ins and repairs; pipeline crossings; umbilical and other subsea equipment installations; subsea intervention; and inspection, maintenance and repair activities. The company supplies its diving services from four owned diving support vessels and other vessels and facilities. Asset Integrity: Through its Asset Integrity division, the company provides asset integrity management, corrosion management, inspection, and non-destructive testing services, principally to customers in the oil and gas, power generation, and petrochemical industries. The company performs these services on both onshore and offshore facilities, both topside and subsea. In the U.K., the company provides independent inspection authority services for the oil and gas industry, which includes first-pass integrity evaluation and assessment and nondestructive testing services. The company uses various technologies to perform pipeline inspections, both onshore and offshore. Advanced Technologies This segment provides engineering services and related manufacturing, principally to the U.S. Department of Defense, NASA and its prime contractors, and the commercial theme park industry. The U.S. Navy is the company’s major customer in this segment, for whom it performs work primarily on surface ships and submarines. The company provides support for the U.S. Navy, including underwater operations, data analysis, development of ocean-related computer software, and the design and development of new underwater tools and systems. The company also installs and maintains mechanical systems for the Navy's submarines, surface ships, offshore structures and moorings. The company provides products and services to NASA and aerospace contractors. Its U.S. Navy and NASA-related activities substantially depend on continued government funding. Marketing Oilfield: The company markets its ROVs, Subsea Products, Subsea Projects and Asset Integrity services and products to domestic, international and foreign national oil and gas companies engaged in offshore exploration, development and production. It also provided services and products as a subcontractor to other oilfield service companies operating as prime contractors. Customers for these services typically award contracts on a competitive-bid basis. Advanced Technologies: The company markets its marine services and related engineering services to government agencies, major defense contractors, NASA and NASA contractors, and to theme park and other commercial customers outside the energy sector. Major Customers During 2014, revenue from one customer, BP plc and subsidiaries, accounted for 18% of the company’s total consolidated revenue. Seasonality The company generates a material amount of its consolidated revenue from contracts for services in the U.S. Gulf of Mexico in its Subsea Projects segment, which

 

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Industry Analysis

OII

Industry Average

Valuation OII Industry Range
Price/Earnings 13.7x
Price/Sales 1.5x
Price/Book 3.3x
Price/Cash Flow 12.9x
TEV/Sales 1.2x
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