HOUSTON, April 7, 2015 /PRNewswire/ -- 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 been awarded several contracts for deepwater work in the
Gulf of Mexico from Super Major
Operators. The work will be completed over the next 12 months and
includes a combination of engineering and fabrication of different
SSIV systems, supply of Deep Down's patented NHU® umbilical, and
variety of installation services and equipment.
Ron Smith, Chief Executive
Officer of Deep Down, Inc. stated, "These awards from different
operators, serve as a vote of confidence in our ability to support
our clients during these times of falling oil prices. We are also
pleased at the growing interest in our modified process for
producing NHU umbilicals at a fraction of the cost."
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. More information about Deep Down is available at
www.deepdowninc.com.
Forward-Looking Statements
Any forward-looking statements in the preceding paragraphs of
this release are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties and that actual results may differ materially from
those projected in the forward-looking statements. In the course of
operations, we are subject to certain risk factors, competition and
competitive pressures, sensitivity to general economic and
industrial conditions, international political and economic risks,
availability and price of raw materials and execution of business
strategy. For further information, please refer to the Company's
filings with the Securities and Exchange Commission, copies of
which are available from the Company without charge.
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SOURCE Deep Down, Inc.