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Gulf Island Fabrication announces project LOI from Walter Oil & Gas

Gulf Island Fabrication announced that, through its subsidiary Gulf Marine Fabricators, it has received a Letter of Intent, or LOI, from Walter Oil & Gas Corporation in anticipation of a contract for the fabrication of topsides totaling approximately 4,500 short tons. The topsides will accompany the 1200’ jacket, previously awarded to Gulf Marine Fabricators, for Walter’s Coelacanth Project located at Ewing Bank 834 in the Gulf of Mexico. Revenue backlog and man-hours associated with this project will be reported in connection with the Company’s announcement of financial results for the quarter ended June 30.