Deep Down nets $4 million in subsea equipment orders

  • Business & Finance

Deep Down, a U.S.-based oilfield services company, has received orders for subsea equipment from two unnamed West African operators.

Deep Down said on Tuesday that the two deals were valued at over $4 million and that one of the two operators was a new customer.

The company added that the orders included a full suite of Deep Down’s Multi-Quick Connect (MQC) plates, some of which would be free-issued by the customer to other equipment manufacturers.

All of the equipment is scheduled to be delivered in the first half of 2018 and would be deployed off the west coast of Africa.

Ron Smith, chief executive officer of Deep Down, said: “Being able to expand our product offerings by providing our own MQC plates, is a testament of the confidence our customers have in our ability to strategically partner with them, as they seek to maximize the value of their investments.”

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