Deep Down Inc. Receives Orders from U.S. & Australia

Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services announced today it has received two orders for flying leads, umbilical termination heads (UTH) and semi-rigid jumpers. The value of the contracts in $4.2 million.

The first order was received from an international controls OEM for ten semi-rigid jumpers for deployment offshore Western Australia in 1,000′ (305 m) of water. The second order is from a small U.S. based independent exploration and production company for three flying leads and six UTH assemblies for deployment in the Gulf of Mexico in 2,000′ (610 m) of water.

Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, “We are delighted with the orders, they further reaffirm our marketing, engineering and project execution efforts aren’t going unnoticed by our clients. We are honored that our clients have entrusted DDI with mission critical equipment.”

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.

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Press Release, December 23, 2013