Deep Down Receives Orders Valued At Over $3 Million
Tuesday 26 July 2016
Deep Down, Inc. (OTCQX: DPDW) ("Deep Down"), an oilfield services company specializing in deepwater and ultra-deepwater oil production distribution system support services, announced today it has received orders for flying leads and umbilical accessories, valued at over $3 million, directly from two major operators.
The equipment is scheduled to be delivered and deployed in the Gulf of Mexico in the first half of 2017.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, "These awards represent a major milestone for the company. We have previously provided similar equipment for the same operators through original equipment manufacturers, but this is an example of the opportunities available due to the low oil prices, where the operators are realizing significant savings by coming directly to us."