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Stock Market & Financial Investment News

News Breaks
May 19, 2014
11:31 EDTMDRMcDermott unit signs agreement for Gulfport spoolbase
McDermott announced that one of its subsidiaries has signed a lease agreement with the Mississippi Development Authority and the Mississippi State Port Authority for the exclusive right to operate a spoolbase and marine operations base in the Port of Gulfport. McDermott expects the facility, designed to serve projects from the Gulf of Mexico, will be available in early 2016. The new facility in Gulfport, located on the Mississippi coastline, will be used to fabricate steel pipe stalklines through advanced welding processes for use in offshore Reeled pipelay operations. The new 50 acre facility will feature a state of the art fabrication building and stalk racks as well as a dedicated dock for vessel berthing to accommodate reeling pipe onto McDermott’s fleet of specialized vessels for transport and installation offshore.
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August 25, 2014
07:02 EDTMDRMcDermott names Stuart Spence as CFO, effective August 23
McDermott International (MDR) announced that Stuart Spence has been appointed EVP and CFO following the departure of Perry L. Elders, SVP and CFO, effective August 23. Elders will be pursuing other opportunities. Immediately prior to joining McDermott, Spence served as Vice President, Artificial Lift for Halliburton Company (HAL), where he had overall strategic and operational responsibility for Halliburton’s artificial lift product and service line.

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