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Stock Market & Financial Investment News

News Breaks
April 30, 2014
07:16 EDTMDRMcDermott awarded fast-track transportation, installation contract
McDermott announced that the Derrick Barge 101 was recently mobilized to Indonesia to perform fast-track heavy-lift work for a client offshore Indonesia. This contract is included in McDermott’s Q1 backlog.
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March 30, 2015
17:43 EDTMDRMcDermott awarded Chevron subsea installation contract
McDermott International (MDR) announced that it has been awarded a sizeable contract to transport and install subsea umbilicals, manifolds, jumpers and flying leads for Chevron (CVX) to support the brownfield expansion of the Jack and St. Malo fields in the U.S. Gulf of Mexico. The value of the award is included in McDermott’s first quarter backlog. McDermott’s subsea construction vessel, North Ocean 102, is expected to transport and install 30 miles of umbilicals and associated flying leads. The final jumper assembly is scheduled to be completed at McDermott’s Gulfport Spoolbase in Mississippi prior to installation by McDermott’s Derrick Barge 50 utilizing its deepwater lowering system. The installation campaign is expected to commence in the second quarter.
March 24, 2015
12:19 EDTMDRMcDermott sees $50M cash savings in 2015
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