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Cal Dive International Inc Message Board

  • jeffreylhook jeffreylhook May 15, 2013 7:38 AM Flag

    $188M in two new Pemex contracts

    The company just published this press release at c. 7:30 AM US EDT on 5-15-13, Wednesday:
    [...Cal Dive Awarded Two Additional Pemex Contracts Totaling $188 Million
    HOUSTON--(BUSINESS WIRE)--May. 15, 2013-- Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded two additional contracts from Pemex Exploración y Producción that are expected to generate combined total revenues of approximately $188 million. The first contract is for the procurement, installation and commissioning of 47 kilometers of 20 inch subsea pipeline and associated tie-ins to an existing platform. This contract is expected to generate revenues of approximately $129 million and will utilize two of the Company’s vessels as well as a third party vessel. The offshore construction is expected to commence in the third quarter 2013 with a portion of the work expected to be performed during the first quarter 2014. The second contract is for the procurement, installation and commissioning of nine kilometers of two medium diameter subsea pipelines and associated tie-ins to existing platforms. This contract is expected to generate revenues of approximately $59 million and will utilize a third party vessel and a Company dive support vessel. The offshore construction for this contract is expected to commence in the fourth quarter 2013 and is expected to be completed by the end of the second quarter 2014. On a combined basis, approximately 50% - 60% of the contracts are expected to be performed during 2013...]

 
DVR
1.26+0.01(+0.80%)Jul 11 4:03 PMEDT

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