McDermott Inc.

Houston, TX, United States

McDermott Inc.

Houston, TX, United States
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News Article | May 10, 2017
Site: www.forbes.com

Nymex crude oil began 2017 setting its post-election high of $55.24, and the first trading day of the year was a “key reversal” day. Shares of oil services stocks Diamond Offshore, McDermott, Noble and Transocean are in bear market territory since setting post-election highs between Dec. 12 and Jan. 25. A daily "key reversal" occurs when a market sets a high then closes below the prior day's low. Weak crude oil prices and the lack of merger activity among oil services companies is one of the mysteries since Donald Trump was elected president on Nov. 9. Crude oil and the oil services stocks set post-election lows between Nov. 9 and Nov. 14, but Diamond Offshore and Noble set lower lows on May 4. It’s all about increasing supplies while slower than expected economic growth has reduced demand at the gasoline pumps. One useful measure of supply is called the U.S. Baker Hughes Oil Rig Count shown below. A year ago, rig count bottomed at 318 and the current reading is 703 and on the rise every week. The Nymex crude oil futures contract has a negative weekly chart with oil below its five-week modified moving average of $49.21. Oil has been below its 200-week simple moving average since the week of August 22, 2014 when the average was $96.17. Today this average is $65.59. The 12x3x3 weekly slow stochastic reading is projected to drop to 36.29 this week, down from 41.75 on May 5. My semiannual value level is $43.04, with annual and quarterly pivots of $47.80 and $48.31, respectively. My monthly risky level is $56.00. Weekly oil inventories declined more than expected, which is giving oil and oil services stocks a bid as I write this article on Wednesday morning. Here’s a scorecard for crude oil and the four oil services stocks: Diamond Offshore (DO) closed May 9 at $14.69, down 17% year-to-date and in bear market territory, 35.1% below its post-election high of $22.65 set on Dec. 12. Diamond Offshore reported better than expected earnings per share on May 1 and is 12.5% above its post-election low of $13.06 on May 4. The weekly chart will be upgraded to positive given a close on Friday above its five-week modified moving average of $15.41. The stock is well below its 200-week simple moving average of $32.97, which is the “reversion to the mean.” The 12x3x3 weekly slow stochastic reading is projected to rise to 22.79 this week, moving above the oversold threshold of 20.00. Buy weakness to my monthly and quarterly value levels of $14.56 and $12.99, and the first was doable at the May 4 low. Sell strength to the 200-week simple moving average declining at $32.97. My annual risky level is $38.54. McDermott (MDR) closed May 9 at $6.65, down 10% year-to-date and in bear market territory, 20.2% below its post-election high of $8.33 set on Jan. 25. The company reported better than expected earnings per share on April 25. The stock is in bull market territory, 34.1% above its post-election low of $4.96 set on Nov. 9.


HOUSTON, May 09, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Ty Lawrence has been appointed Vice President, Treasurer and Investor Relations, replacing Kathy Murray who has been appointed Vice President of Finance for Project Execution and Delivery. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90ba574b-e695-4191-adfe-0d1719d01e08 “These moves ensure McDermott continues to build the strength of our leadership team by expanding their breadth and depth of experience,” said Stuart Spence, Executive Vice President and Chief Financial Officer for McDermott. “These moves provide both Ty and Kathy new experiences and opportunities to broaden their understanding of McDermott’s vast business and position them for continued success within our company.” Prior to this appointment, Ty Lawrence was Senior Director of Finance for McDermott’s Americas, Europe and Africa Area (AEA). He joined McDermott in 2013 and has previously held the roles of Subsea Finance Director and Senior Finance Director for Commercial and Project Support. Ty is a trained chartered accountant with over 20 years of experience working for various listed and private equity companies across a variety of industry sectors mainly in London, in roles of increasing responsibility. “I look forward to working with the investment and financial communities to strategically broaden McDermott’s investor base and highlight the tremendous value McDermott brings as the engineering, procurement, construction and installation leader in the offshore and subsea market,” said Ty Lawrence. McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 13,500 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver.  McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.


News Article | May 11, 2017
Site: www.prweb.com

Krupp Kommunications (K2), a full-service public relations, marketing, and branding agency currently celebrating its 21st anniversary, announced Danny Ruderman, one of America’s Premier College Admissions Counselors, has joined its client roster. Ruderman realized there is a fundamental problem with college admissions. Many students feel incredible pressure to go to a “top” college, even if it may not be the best place for them, while others are told they shouldn’t pursue their dreams and, consequently, don’t realize the amazing opportunities available. Danny’s own high school principal told him he would not get into Stanford, but he ended up becoming the third student in the history of his public school to enroll at the University. “My mission is to help every student who wants to attend college find, apply, and get accepted to places that help them become the best versions of the themselves,” says Ruderman. Ruderman is recognized as one of America’s Premier College Admissions Counselors, helping families navigate the difficult and uncertain admissions process while becoming an invaluable resource, support system, and friend to both parents and students. With his sense of humor and ability to relate to teens, Danny alleviates the anxiety surrounding this often arduous time for both students and their parents. His unique system helps high schoolers find colleges and create standout applications by encouraging them to be authentic. Ruderman is the author of two books, “The Ultimate College Acceptance System” and “Top 100 Answers to Your College Admission Questions.” He has also created and developed college counseling programs used by non-profits and Fortune 500 companies. He is a member of the Western Association of College Admissions Counselors (WACAC). The children of Chuck Norris and Dylan McDermott have sought Ruderman’s counsel, and he also helped Snapchat CEO Evan Spiegel get into Stanford. “Danny is a great fit for our company,” said Heidi Krupp, CEO and founder. “Our firm has always strived to represent people and companies whose mission is to better our world. Certainly, Danny’s mission to help students shine in the best light possible is admirable and much-needed.” About Krupp Kommunications, Inc. Established in 1996, Krupp Kommunications (K2) is an award-winning integrated public relations and marketing agency specializing in brand development for lifestyle, entertainment, and publishing properties. We ignite brands that help consumers help themselves by fostering the emotional need through national and grassroots activation. For more information, please visit http://www.kruppkommunications.com


News Article | September 19, 2017
Site: globenewswire.com

HOUSTON, Sept. 19, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) Vice President, Treasurer and Investor Relations Ty Lawrence is scheduled to speak at the Johnson Rice & Company 2017 Energy Conference in New Orleans, Louisiana on September 26, 2017 at 10:30 a.m. Central time. McDermott will post the slides to be used prior to the presentation in the Investor Relations area at www.mcdermott-investors.com. McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.


News Article | March 1, 2017
Site: globenewswire.com

HOUSTON, March 01, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today a contract award from Hess Corporation for subsea tieback work for its deepwater Penn State Deep (PSD) field in the Gulf of Mexico. “This marks our first project with Hess Corporation in recent history and we look forward to providing industry best operational excellence, quality and safety,” said Scott Munro, McDermott’s Vice President for Americas, Europe and Africa. “Once again, we have demonstrated that we can provide the best total solution for our clients.  We look forward to a long and mutually beneficial relationship with Hess.” The PSD field is located in the Garden Banks 216 block in approximately 1,500 feet of water. Discovered in 1996, the PSD field began production in 1999. The lump sum contract will be reflected in McDermott’s first quarter 2017 backlog. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com. Forward-Looking Statement In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, statements about backlog, to the extent backlog may be viewed as an indicator of future revenues, and the expected scope, execution and timing associated with the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2015 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.


News Article | November 7, 2016
Site: globenewswire.com

ABU DHABI, United Arab Emirates, Nov. 07, 2016 (GLOBE NEWSWIRE) -- McDermott International Inc. (NYSE:MDR), a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide, reached 45-million man-hours without a lost time incident (LTI) in its Middle East Area. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/adc29924-c8ad-4b86-a50a-57b79641a8f4 The industry-leading Quality Health Safety Environment Security (QHSES) milestone, which was reached on October 24th 2016, has been achieved in part through the company-wide adoption of McDermott’s Taking the Lead program which embeds excellence in QHSES performance into the company culture. McDermott already sets an example for sub-contractors, partners and clients for outstanding QHSES performance and will continue to raise further awareness of Taking the Lead with its vendors and partners around the world in 2017. “The safety of our staff, partners, clients and vendors is of utmost importance to McDermott and we strive to be an industry leader in QHSES,” said John Macpherson, McDermott’s Senior Director, Global QHSES. “We have reached significant QHSES achievements at facilities around the world, and the Middle East sets a new record achievement in reaching 45-million man-hours LTI-free. We hope to continue setting a positive QHSES example across the globe.” To further evolve the QHSES culture instilled by Taking the Lead, the McDermott Operational Values (MOV) were created to identify key procedures and processes fostering safety first attitudes and behaviors. Following a global MOV rollout event in Dubai, Linh Austin, McDermott’s Vice President, Middle East and Caspian, said, “At McDermott, we don’t have a safety initiative, we have a safety culture; a culture where high QHSES standards are part of the McDermott DNA. This is thanks in part to our employee-driven initiatives like Taking the Lead and McDermott Operational Values. Our staff embodies these initiatives to find better, safer ways of working, which translates into not only improved quality of work for them, but for our customers as well.” Note to Editors The nine MOVs are Readiness Planning, Permit to Work, Energy Isolation, Ground Disturbance, Work at Height, Confined Space Entry, Plant and Equipment, Lifting Operations, Management of Change. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com. Forward-Looking Statement In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which may be forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2015 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.


DUBAI, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Leading EPCI contractor McDermott International, Inc. (NYSE:MDR), today announced it reached 50 million man-hours without a lost time incident in its Middle East Area. “Everyone at McDermott had a part to play in reaching the 50 million man-hour milestone; it was achieved through mutual regard for each other and dedicated teamwork,” said Linh Austin, McDermott’s Vice President, Middle East and Caspian. “Safety isn’t just a procedure for us, it’s a culture deep-rooted within every function and division of our business. It is our number one priority.” The industry-leading safety milestone, which was reached on January 27th 2017, was achieved in part through the company-wide adoption of McDermott’s Taking the Lead program and implementation of McDermott Operational Values (“MOVs”).  These programs seek to embed excellence in safety performance and a “safety-first” attitude and behaviors into the company culture.  The MOVs were created to identify key procedures and processes needed for safety success. The achievement dates back to October 22, 2013 and since then McDermott has fabricated and installed 38 topsides and 47 jackets with a combined weight of 89,978 tons (81,537 tonnes) – the equivalent in mass to about eight Eiffel Towers or nearly twice the weight of steel rebar used in building the Burj Khalifa. In addition, McDermott installed a total of 135 miles (217 kilometers) of pipelines and 194 miles (313 kilometers) of cables. As a company, McDermott recently reached one year without a lost time incident, which includes the Company’s four global fabrication facilities, two spool bases, 12 McDermott-owned/operated offshore vessels and offices around the world. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.


News Article | November 1, 2016
Site: globenewswire.com

HOUSTON, Nov. 01, 2016 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) (“McDermott”) announced it has opened a new office in Al Khobar, Saudi Arabia, with the ability to add 300 staff to its existing workforce in the Kingdom. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/01e98c1e-bbdf-46f4-9a86-1838f275d50c The new office expands McDermott’s engineering capacity in the region and will enhance its offering in Saudi Arabia. “The opening of our new office further solidifies our leadership in the area and our commitment to Saudi Arabia,” said Linh Austin, Vice President, Middle East and Caspian. “This new office expands our current capability in Kingdom and for the region and increases support to our customers, particularly in brownfield work.” “This is just one of several initiatives demonstrating McDermott's continued commitment to the Saudi market and the In-Kingdom Total Value Add (IKTVA) Program,” added Austin. The office opening follows McDermott’s recent Dammam yard inauguration and recruitment drive in Al-Khobar, where the Company interviewed and assessed more than 600 Saudi craftsmen to support IKTVA localization objectives. McDermott has an extensive history of executing complex EPCI projects offshore Saudi Arabia and is committed to supporting the continued growth of oil and gas production in the Kingdom. Through decades of regional experience and intimate knowledge gained of field conditions, McDermott’s Saudi operation has been established as a brownfield center of excellence. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com. Forward-Looking Statement In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, statements about the expected benefits arising from the opening of the Al Khobar, Saudi Arabia office and McDermott’s continued commitment to the Saudi market and IKTVA program. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2015 and subsequent quarterly report on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.


News Article | February 21, 2017
Site: globenewswire.com

HOUSTON, Feb. 21, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today it has acquired the newly built pipelay and construction vessel Amazon to better position the Company for ultradeepwater and SURF projects. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4d679f2-029c-4f98-be24-f63e722974c8. “This is a great opportunity for the Company to expand the technical capabilities of our global fleet and grow in the deepwater and SURF markets and greatly increase our ultradeepwater project coverage,” said David Dickson, President and Chief Executive Officer of McDermott. “Due to current market conditions and the opportunistic nature of the transaction, we were able to acquire what is essentially a new, enabling asset at a fraction of the original build cost.” McDermott plans to upgrade the vessel to address the ultradeepwater market with a state-of-the-art J-lay system outfitted with the latest vessel technology. In the near term, the Company plans to make minor capital expenditure investments to bring the vessel up to Company standards. As McDermott finalizes its upgrade plans, the Company plans to use the vessel on existing construction and pipelay projects. Funding for the vessel acquisition has been secured through a sale and leaseback arrangement under which McDermott has control of the vessel in exchange for a daily charter-hire rate. The planned upgrade to the state-of-the-art J-lay system and related financing are expected to be considered in line with market conditions. Completed in 2014, the Amazon is equipped with 49,514 square feet (4,600 square meters) of deck space complete with two 440-ton (400-tonne) cranes, a service speed of 12 knots and accommodation for up to 200 crew and service staff. For more information about the vessel acquisition, visit McDermott’s Investor Relations web page. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com. Forward-Looking Statement In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, our beliefs and expectations with respect to the benefits and opportunities for McDermott resulting from the Amazon, McDermott’s plans with respect to vessel fleet strategy and market position, the expected plans, timing and utilization of the Amazon, as well as the expected scope, timing and sources of funding of potential upgrades to the Amazon. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings.  If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements.  For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2016. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.


HOUSTON, Feb. 22, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Scott Munro, Vice President, Americas, Europe & Africa, will speak at the DNB Annual Oil, Offshore & Shipping Conference in Oslo, Norway on March 1, 2017 at 3:25 p.m. Central European Time/8:25 a.m. Central Time. McDermott will post the slides to be used prior to the presentation in the Investor Relations area at www.mcdermott.com. About McDermott McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 12,400 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver. McDermott has served the energy industry since 1923.  As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, visit our website at www.mcdermott.com.

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