Deep Down's Intellectual Property Continues to Grow
December 18 2009 - 9:00AM
PR Newswire (US)
HOUSTON, Dec. 18 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC
Bulletin Board: DPDW) today announced that its wholly-owned
subsidiary, Flotation Technologies, has been awarded a patent
number US 7,628,665 B1 by the United States Patent and Trademark
Office for "Drilling Riser Buoyancy Modules". In general, the
granted patent provides broad protection for the design of the
CoreTec(TM) Drilling Riser Buoyancy Module. Drilling riser buoyancy
modules are designed to attach to the outside of a drilling riser
string and provide buoyancy to offset a percentage of the weight
from this string. Addition of these modules allows for drilling in
deeper water. These drilling riser buoyancy modules are subjected
to extremely rough handling both in storage and in service which
can cause severe and costly damage to the modules. The CoreTec(TM)
drilling riser buoyancy module system combats this rough handling
through the invention of its ToughSkin(TM) outer shell molded from
a high strength polymer. This exterior shell provides an
unprecedented level of protection for the buoyant inner core from
both impact and abrasion. "Deep Down is pleased to add this patent
to its ever-growing portfolio of intellectual property. This patent
represents the company's engineering excellence and leadership in
the global subsea market," stated Ronald E. Smith, Deep Down's
President and Chief Executive Officer. "A growing number of
companies have now recognized the many advantages of our
CoreTec(TM) drilling riser buoyancy modules and we look forward to
continuing innovation by providing the market smarter overall
products and solutions." 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, distributed and drill
riser 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. Deep Down provides these services
through its subsidiaries. More information about Deep Down is
available at http://www.deepdowncorp.com/, by contacting the
Company at (281) 517-5000, or . One of our most important
responsibilities is to communicate with shareholders in an open and
direct manner. Comments are based on current management
expectations, and are considered "forward-looking statements,"
generally preceded by words such as "plans," "expects," "believes,"
"anticipates," or "intends." We cannot promise future returns. Our
statements reflect our best judgment at the time they are issued,
and we disclaim any obligation to update or alter forward-looking
statements as the result of new information or future events. Deep
Down urges investors to review the risks and uncertainties
contained within its filings with the Securities and Exchange
Commission. DATASOURCE: Deep Down, Inc. CONTACT: Deep Down, Inc.,
+1-281-517-5000, Web Site: http://www.deepdowninc.com/
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