Oceaneering International, Inc. Presents at Johnson Rice 2014 Energy Conference, Sep-30-2014 09:30 AM
Sep 17 14
Oceaneering International, Inc. Presents at Johnson Rice 2014 Energy Conference, Sep-30-2014 09:30 AM. Venue: Hotel Monteleone, 214 Royal Street, New Orleans, LA 70130, United States. Speakers: Marvin J. Migura, Executive Vice President.
Oceaneering International, Inc. Announces BP p.l.c. Angola Contract Extension
Sep 10 14
Oceaneering International, Inc. announced that BP p.l.c. has exercised both one-year options to extend the Field Support Vessel Services contract with Oceaneering for work offshore Angola on Blocks 18 and 31. Under this contract term extension, Oceaneering will continue to provide project management, engineering, and vessel services through January 2017. Two chartered vessels, the Ocean Intervention III and the Bourbon Oceanteam 101, will continue to be supplied during the contract term extension. The contract scope of work includes light subsea construction and inspection, maintenance, and repair services on existing and future subsea infrastructure. The contract has a provision for Oceaneering to continue to provide during the extension period, at BP's option, a third vessel on a mutually agreed, as-needed basis. The third vessel currently being provided is the Bourbon Evolution 803, which is contracted through January 2015.
Oceaneering International, Inc. Presents at Morgan Stanley Summer Houston Energy Summit, Aug-26-2014
Aug 19 14
Oceaneering International, Inc. Presents at Morgan Stanley Summer Houston Energy Summit, Aug-26-2014 . Venue: Houston, Texas, United States. Speakers: Marvin J. Migura, Executive Vice President.
Oceaneering International, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter, Second Half and Full Year of 2014
Jul 23 14
Oceaneering International, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $927,407,000 compared to $820,372,000 a year ago. Income from operations was $161,311,000 compared to $146,337,000 a year ago. Income before income taxes was $160,545,000 compared to $144,250,000 a year ago. Net income was $110,295,000 or $1.02 per diluted share compared to $98,811,000 or $0.91 per diluted share a year ago. EBITDA was $216,959,000 compared to $194,733,000 a year ago. Year over year, quarterly EPS increased on profit improvements from Subsea Products, Remotely Operated Vehicles (ROV), and Subsea Projects. Sequentially, quarterly EPS rose on higher operating income principally from Subsea Products and Subsea Projects. Capital expenditures totaled about $157 million, of which $60 million was invested in ROV’s; $29 million was spent on Subsea Projects; $26 million on Subsea Products; and $40 million in the announced acquisitions of AIRSIS, to enhance the asset tracking service they offer on offshore drilling rigs and vessels engaged in subsea activities.
For the six months period, the company reported revenue of $1,767,608,000 compared to $1,538,924,000 a year ago. Income from operations was $294,173,000 compared to $254,627,000 a year ago. Income before income taxes was $293,333,000 compared to $253,518,000 a year ago. Net income was $201,520,000 or $1.86 per diluted share compared to $173,660,000 or $1.60 per diluted share a year ago. EBITDA was $403,430,000 compared to $354,426,000 a year ago.
For the third quarter of 2014, the company is projecting EPS of $1.10 to $1.15. The company expects sequential improvements in income from all of operating business segments, led by ROVs. They are also expecting year-over-year third quarter profit increases for each of its business operations, led by Subsea Products. On a macro basis, they remain convinced that its strategy to focus on providing services and products to facilitate deepwater exploration and production remains sound.
The outlook for the second half of this year remains positive and unchanged overall from last quarter.
The company still believes that they will achieve record results for the year and are narrowing its 2014 EPS guidance to a range of $3.95 to $4.05 from $3.90 to $4.10. Compared to 2013, they continue to forecast income growth for its entire oilfield operating segments in 2014. The company anticipates generating EBITDA of at least $855 million.
Oceaneering International, Inc. Declares Quarterly Dividend, Payable on September 19, 2014
Jul 23 14
Oceaneering International, Inc. announced that its Board of Directors declared a regular quarterly dividend of $0.27 per common share. The dividend is payable on September 19, 2014 to shareholders of record at the close of business on August 29, 2014.