Deep Down, Inc. (OTCQX: DPDW) ("Deep Down"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services announced today it has received orders for Steel Tube Flying Leads and associated services in the Gulf of Mexico and West Africa.
The first order is for fourteen (14) steel flying leads and ancillary equipment. Delivery is scheduled for deployment in over 5,300 feet (1,615 meters) of water in the Gulf of Mexico in the second quarter of 2014. The second order is a long-term contract to supply flying lead installation support equipment and personnel; equipment and personnel will be mobilized in West Africa within the first few weeks of 2014 through the end of the third quarter of 2014.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, "The confidence expressed in Deep Down to manufacture flying leads and furnish equipment and services on a long-term basis reaffirms the continuing interest that our products and services are generating in the deepwater domestic and international marketplaces."
About Deep Down, Inc.
Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads (LSFL), installation buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead.