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OCEANEERING INTERNATIONAL, INC.

(OII)
  Report
Delayed Nyse  -  04:00:01 2023-01-27 pm EST
20.93 USD   +2.15%
01/26Oceaneering Announces Dates for Fourth Quarter 2022 Earnings Release and Conference Call
BU
01/19Benchmark Initiates Oceaneering International at Buy With $25 Price Target
MT
01/11Oceaneering International : wins FPSO hardware decommissioning contract offshore Brazil
PU
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Oceaneering Selected as Finalists for World Oil and Pipeline and Gas Journal Awards

09/14/2022 | 05:05am EST

Houston, Texas -- Oceaneering International announces that two of its solutions are finalists for two energy industry awards, the World Oil and Pipeline and Gas Journal Awards.

The Wellhead Load Relief (WLR) system has been chosen as a finalist for Best Well Integrity Technology in the World Oil Awards. WLR is a method for BOP tethering that is deployed and operated subsea, eliminating the requirement for large topside spreads. By moving all the work subsea, WLR eliminates all potential HSE issues related to topside preparations of wire/tether. Fast hook-up and removal save rig time and minimize the time the BOP is unsupported.

The Smart Flange 4 has been chosen as a finalist for Best Repair Technology Advancement in the Pipeline and Gas Journal Awards. The Smart Flange 4 is NACE-compliant pipeline end connector that connects adjoining pipelines and capable of mitigating subsea pipeline repair/tie-in risk for highly corroded pipeline and thin wall thickness scenario. It has individual setting mechanisms for interfacing with a pipeline along with connecting to adjoining pipeline using standard ASME Ring-Type Joint Flange connections. The Smart Flange 4 is designed and qualified to latest pipeline standard DNV-ST-F101 and Recommend Practice DNV-RP-F113.

The winners of this year's World Oil Awards will be announced at the Houstonian Hotel on October 13 in Houston, Texas. The 2022 Pipeline and Gas Journal Awards will follow at the Westin Galleria on November 17 in Houston.

Articles To solve the unsolvable, Oceaneering seeks out the utmost experts in their respective fields. We provide engineered services and products primarily to the offshore energy industry. Today, we also use applied technology expertise to serve the defense, entertainment, material handling, aerospace, science, and renewable energy industries. With a varied and diverse pool of expertise, Oceaneering strives to be the go-to thoughtleader in our wide-ranging on- and offshore service lines. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. Our experts are able to speak to these subjects because they are out in the field, working shoulder-to-shoulder with our clients and associated contractors. They work closely to devise solutions to problems that couldn't be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Our experts have penned thousands of words on topics related to remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and space systems. Our articles section shines a spotlight on our best and brightest thoughtleaders offering history, data, case studies, and even opinions on industry trends and service techniques, so that we may open a dialogue with the rest of the industry, in order to see how we can all better ourselves and come up with the latest solutions and processes yet to be created. We partner with industry publications and other newsmakers to help tell our story and those of our clients because we aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day. We do this work with much importance placed on safety, because safety is instilled in every worker, in every region in which we do business.

Company page Since our founding in the early 1960s, Oceaneering has expanded and grown globally to service several industries such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. In 1964, Mike Hughes and Johnny Johnson formed a Gulf of Mexico diving company called World Wide Divers. The company grew in response to increasing demand for their services and in 1969 merged with two other diving companies to form Oceaneering International, Inc. To solve the toughest challenges, we do things differently, creatively, and smarter. As your trusted partner, our unmatched experience and truly innovative portfolio of technologies and solutions give us the flexibility to adapt and evolve, regardless of market conditions. Our mission is to solve the unsolvable. We thrive by creating industry-changing technically creative solutions for the most complex operational challenges under water, on land, and in space. Our five core values establish a common culture and demonstrate what is most important for us as a company. Since the beginning, the company has transformed from a small regional diving company into a global provider of engineered products and services. Today, we develop products and services for use throughout the lifecycle of an offshore oilfield, from drilling to decommissioning. We operate the world's premier fleet of work class ROVs. Additionally, we are a leader in offshore oilfield maintenance services, umbilicals, subsea hardware, and tooling. We also serve the aerospace, defense, and theme park industries. Underpinning everything we do, safety is not only the foundation of our core values, but it is vital to our unmatched performance record and company culture. The industries we serve are as diverse as they are complex. Whether we are engineering deepwater umbilicals or developing robotics for aerospace applications, the safety and health of our employees, vendors, and customers is an integral part of our day-to-day business. If we are working, then our responsibility is to be working safely. Since our inception in 1964, we have placed a high value on employee safety-from diving services and subsea inspection to vessel-based installation operations. We have and will continue to evolve not only our health, safety, and environmental (HSE) processes, but those of the industries in which we work. Although we have been fatality-free since 1999, our HSE journey goes beyond statistics. As our portfolio of services has grown, we have continued to prioritize and advance our approach to HSE.

Trade Shows Oceaneering is a global company, spanning several industries such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. Because our work is global, we strive to showcase our talent, expertise, technology and services worldwide at several important and high-profile trade shows per year. At Offshore Technology Conference in Houston, as well as European-centric trade shows like Offshore Northern Seas (ONS) and Offshore Europe, Oceaneering displayed a touch screen that allows users to bring our technologies and services to life with in-depth facts and figures, and informative videos. Another highlight of our conference stand is the live, mobile mission control center, which provides a look at our collaborative and operational onshore base, supporting all kinds of operations both on- and offshore, topside and subsea. The MSC allows you to optimize resources, hence reducing cost, lowering HSE risk, and lowering emissions to the environment. Trade Shows allow Oceaneering the ability to meet with the public and potential clients to give them more in-depth knowledge about our specialized tools and services. By meeting with Oceaneering's subject matter experts about our offerings, clients and potential clients can get an open window into the types of services Oceaneering can provide. Oceaneering's expertise covers the spectrum from remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, entertainment systems, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and even space systems. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. They work closely to devise solutions to problems that couldn't be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Trade shows, including smaller, local meet-and-greets, help tell our story and showcase the expertise and innovation behind our tools, technology, and services. We aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day, on every single job, all across the world. We hope to serve you soon.

Brochures Our brochures section allows users to read more in-depth about our specialized tools and services that span several industries, such as the offshore energy industry, defense, entertainment, material handling, aerospace, science, and renewable energy industries. By reading more about our offerings, clients and potential clients can get an open window into the types of services Oceaneering can provide. Oceaneering's expertise covers the spectrum from remotely operated vehicles, subsea hardware, asset integrity, flow assurance, diving, survey and mapping, vessels, well intervention, workover control systems, pipeline repair, inspection, non-destructive testing, decommissioning, entertainment systems, renewables, umbilicals, valves, marine services, product testing and qualification, data management, vessel navigation and positioning systems, science and other research, and even space systems. Our Brochure section features a searchable web database, where users don't have to simply scroll to find the items for which they are searching. Simply enter your search terms, and select either "exact" or "search title" to help get you closer to relevant technology and services from Oceaneering that can help you solve your needs. Users can also filter their searches by category. Oceaneering offers 40 categories and sub categories to help users find what they need even faster. With a database of nearly 200 brochures, we aim to make the search process as easy as possible so we can get in touch faster to provide you with top-notch service and world-class expertise. Our experts are sought out for their knowledge and experience, to shed light on the latest innovative technology and trends within the wide-ranging industries we serve. They work closely to devise solutions to problems that couldn't be solved otherwise. We demonstrate our value every day, striving to complete projects on-time and on-budget. Our brochures help to tell our story and showcase the expertise and innovation behind our tools, technology, and services. We aim to not only solve the unsolvable but demonstrate our value and expertise as a company, every single day, on every single job. We do this work with much importance placed on safety, because safety is instilled in every worker, in every region in which we do business. We hope to serve you soon.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 2 079 M - -
Net income 2022 22,0 M - -
Net Debt 2022 263 M - -
P/E ratio 2022 95,1x
Yield 2022 -
Capitalization 2 098 M 2 098 M -
EV / Sales 2022 1,14x
EV / Sales 2023 1,00x
Nbr of Employees 8 500
Free-Float 88,5%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 20,93 $
Average target price 18,75 $
Spread / Average Target -10,4%
EPS Revisions
Managers and Directors
Roderick A. Larson President, Chief Executive Officer & Director
Alan R. Curtis Senior Vice President-Operations Support
Thomas Jay Collins President, Chief Operating Officer & Director
Paul B. Murphy Independent Director
Steven A. Webster Independent Director
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