Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Here are your pictures tbone.
Nice pictures from your I-phone.
Done. Were you making a supply delivery out to her?
Or just in the area?
How are things down there and out on the waters?
Does it seem like a slowdown to you or has business with
the rigs been robust? Your thoughts?
I think spec has the working theory of what it is.
#msg-37771829
Although there is no direct connection in the press release,
there is a good chance DPDW will be involved. This is based on
the percentage of umbilical projects DPDW has been involved with in the GOM over the past years, and our working relationship with Technip.
Again, nothing direct or announced in the posted press.
During 2007, our Horizontal Drive Units were used to perform deployment and recovery functions on the following projects:
1. Oceaneering Flying leads in Panama City Florida
2. Chevron Agbami flying leads for Subsea 7
3. Noble Energy Lost Ark 2 Composite Jumper for Saipem
4. BP King Pump Electrical Power flying lead and steel flying leads for
Saipem
5. Noble Energy Lost Ark 1 flexible flowline Jumper for Saipem
6. Mariner Bass Lite Steel Flying leads for Technip
7. Independence Hub Steel Flying leads for Subsea 7 and for Anadarko
8. BP Thunderhorse Steel flying lead, ADCP, and RMS [define and name ADCP
and RMS]
9. Chevron Agbami Flexible Flowline jumpers for FMC
10. Bluewater Gomez Steel flying leads for Drill Quip
11. New Field Steel flying lead
#msg-25814840
Within the past few years, Flotation Technologies has received its approved vendor status for the supply of engineered products such as distributed buoyancy, installation buoyancy and bend limiting products from numerous customers including Aker Kvaerner, Cooper Cameron, Chevron, Devon Energy, Exxon Mobil, Oceaneering Multiflex, Petrobras, Shell, Statoil, Technip, and Wellstream International.
#msg-28580813
Edit: add info from filing
Our principal customers are major integrated oil and gas companies, large independent oil and gas companies, foreign national oil and gas companies, subsea equipment manufacturers and subsea equipment installation contractors involved in offshore exploration, development and production. Offshore drilling contractors, engineering and construction companies, the military and other companies involved in maritime operations represent a smaller customer base. Our customers include Acergy SA; Aker Kvaerner ASA; Amerada Hess Corporation; Anadarko Petroleum Corporation; Atlantic Shipyard; BHP Billiton Limited; BP PLC; Cabett Subsea Products, Inc.; Cal Dive International, Inc.; Cameron International Corporation; Chevron Corporation; Devon Energy Corporation; Diamond Offshore Drilling, Inc.; Dril-Quip, Inc.; Duco Inc.; ExxonMobil Corporation; Helix Energy Solutions Group Inc.; JDR Cable Systems (Holdings) Ltd; Kerr McGee Corporation; Marathon Oil Corporation; Marinette Marine Corporation; Nexen Inc.; Noble Energy Inc.; Oceaneering International, Inc.; Oil States Industries, Inc.; Royal Dutch Shell PLC; Schlumberger Limited; Subsea 7, Inc.; Technip USA Holdings, Inc.; TransOcean Offshore Inc.; United States Coast Guard; Veolia Environmental Services, Inc. and United States Navy.
We are not dependent on any one customer or group of customers. The number and variety of our products required in a given period by a customer depends upon their capital expenditure budget as well as the results of competitive bids. Consequently, a customer may account for a material portion of revenues in one period and may represent an immaterial portion of revenues in a subsequent period. While we are not dependent on any one customer or group of customers, the loss of one or more of our significant customers could, at least on a short-term basis, have an adverse effect on the results of our operations.
Assembly bay.
(Perdido is a Deep Down Inc. related project)
I probably should point out that the BC-10 project mentioned is also a Deep Down related project.
"Current work at BC-10 is installation of the pipeline, flowline, and risers. Start-up is scheduled late this year."
I wonder if Deep Down will be there for latching?
From the link below..
"Deep Down, Inc. (DPDW) announced [edit] that three Bend Stiffener ("BS") Latchers, for the BC-10 project, were shipped to Singapore. These BS Latchers will be installed on the Client's Floating Production, Storage and Offloading vessel ("FPSO") which will be bound for Brazil upon its completion."
"The BS Latcher is a proprietary Deep Down design which offers its clients significant cost savings as compared to many of its competitors' products. These cost savings arise principally out of the unique quick-release and locking mechanism which can be engaged by a single ROV without any need for divers for any phase of its deployment. As bend stiffeners get larger and heavier, it is also important to note that the bend stiffener can be carried behind the bullnose of the Deep Down BS Latcher and engaged into the mating bellmouth quickly and efficiently. Upon completion, the bend stiffener can be released to allow the bullnose and umbilical to be pulled up through the remaining length of the I-tube and hung off at the topside hang-off flange. "
#msg-26401882
That alternative energy has to take a first step baby.
Nice article spec, thanks.
“The deployment of the ADCPs is a major milestone for FAU, and our research and development efforts to utilise energy from the Gulf Stream as a source of renewable energy,” says university president Frank Brogan. “We are very proud of our researchers at the Coet, and our academic, industry and government partners for helping us move closer to providing a better quality of life for Florida’s citizens and beyond.”
Good point Pd102! I know a certain leasing company that might be flush with cash from a property sale in Houston. Deep Down
might be a good investment for that leasing co. owners.
I hear they are quite acquainted with present management of Deep Down.
hint hint
My decoder ring is set to look at the message in the reply.
Too often we get sidetracked by emotions and miss the meat,
the facts if you will.
What did Steve try to convey to us in the other 17 sentences of his reply? I wonder.
I think they were referencing internal growth numbers for the Flotation Tech. division, I don't
recall them making those public. I may have missed them.
15th Annual ASME IPTI OTC.09 GOLF TOURNAMENT
Sponsored by DNV
SUPPORTING STUDENT SCHOLARSHIPS!
WILDCAT GOLF CLUB Saturday, May 2nd 2009
"Our goal is to raise $50,000 in 2009, and you can help!"
Tournament Sponsors:
Exclusive
DNV
ASME International Petroleum Technical Institute (IPTI)
announces its 15th annual OTC Golf Tournament.
This popular event is the premier pre-OTC golf
tournament! It attracts nearly 300 golfers from a broad
spectrum of the industry and raises thousands of
dollars for student scholarships.
SPONSORSHIPS AVAILABLE!
ASME IPTI
A NON-PROFIT
ORGANIZATION
11757 Katy Freeway, Suite 865
Houston, Texas 77079
Phone: 281-493-3491
Fax: 281-493-3493
Registration: 7:00am Shotgun Start: 8:30am
MAKE YOUR RESERVATIONS EARLY!
Register online at www.asme-ipti.org
Registration opens January 20, 2009
2009 Sponsors
Our goal is to raise $50,000 in 2009, and you can help!
We are looking for sponsors to support our cause!
INTERN ATIONAL PETROLEUM
TECHNOLOGY INSTITUTE
C-Ray Media, Inc.
www.c-raymedia.com
Platinum
MODEC
Gold
Bluewater
Continental Airlines
Control Flow, Inc.
FMC Technologies
GL Industrial Services
National Coupling
Oceaneering
Subsea7
Bronze
Global Industries
Silver
Cross Solutions Group
Hole
Atwood Oceanics
Bluewater
Deep Down Inc.
Dril-Quip
Master Flo
Rotech Subsea USA
RTI Energy Systems
Scana Oil & Gas
Stress Engineering
Teledyne ODI
Universal Ensco, Inc.
Cooking
Deep Down / PSI
GE Vetco
Gilmore Valve
National Coupling
Breakfast
ASME-IPTI
Equipment Valve & Supply
Beverage
T3 Energy Services
JDR Cable Systems
May 05, 2009
Electric Motors Corporation Announces Acquisition
CAMARILLO, Calif.--(BUSINESS WIRE)--Electric Motors Corporation, a Colorado corporation formerly known as Optimax Industries, Inc. (EMCO.PK), announced that it has acquired all of the issued and outstanding shares of stock of Electric Motors Corporation, a California corporation ("EMC"), a privately held company specializing in development and manufacture of electric power drive systems for electric and hybrid vehicles. Upon completion of the acquisition the Company's name was changed and its new trading symbol was assigned by the NASD. Trading of the Company's common stock will continue under the symbol EMCO.
EMC CEO Wil Cashen noted the company's excitement over the new opportunities presented by operating in a public platform. Cashen said, "As Electric Motors Corporation moves into the pre-assembly stage of its electric automobile drive train systems, the new corporate structure opens the door for a broader investor base. Investor interest in green energy in general and the electrification of automobiles in specific has never been higher." About EMC: Electric Motors Corporation (EMC) develops and manufactures electric power drive systems for electric vehicles for EMC brand and other various manufacturer brand cars and light duty trucks. EMC utilizes proprietary electric drive system technology and methodology of compounding motor-generators, EMC flex-fuel motors and energy control/management/storage systems to greatly reduce parasitic power train losses that significantly improve fuel efficiency and deliver cleaner emissions. EMC's power drive technology is clean, efficient, safe and reliable and simple to apply to vehicles produced currently and future electric plug-in and/or hybrid models. EMC electric power drive systems generate drive energy or charging energy that efficiently increases the vehicle total drive range for long distances. EMC's mission is to become the first independent company to mass-produce cost-competitive power-train systems for hybrid and electric vehicles and therefrom design, produce and sell company branded truck and car models internationally with superior performance and design advantage.
The company's corporate headquarters are located in Camarillo, California with research and development offices located in San Jose, California. All EMC issued press releases appear on EMC's website (http://www.emchq.com). Any announcement that does not appear on the EMC website has not been issued by EMC.
Yes that makes perfect sense. Looking forward to your to your tour inside.
If I remember correctly, they also are building an attached storage area out back and are increasing the production line or adding another one inside.
They are now posted, I linked them to the previous set of photos
you provided. Thanks Tom!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36939093
http://investorshub.advfn.com/boards/replies.aspx?msg=36939093
photos: Flotation Technologies loading dock expansion,
photos by Tombrady12nh.
photo 1
photo 2
photo 3
photo 4
Sounds good Tombrady12nh. I just noticed Flotation Technologies
has some products in use in the Kristin field, a gas condensate field in the Norwegian Sea.
http://www.npd.no/engelsk/cwi/pbl/en/field/all/1854729.htm
Look between the three small pictures, left side.
Why you ask? Here's why. There is fear in the unknown.
One is expected to shy away from the "mysterious" actions of a stock.
To know what is really happening removes that fear, uncertainty, and doubt.
We know the pp is limited.
We know what the pp was for.
We know the pp shares are effective now.(notice all those fearful rumors have now disappeared?)
jk21, you are right, it is simple supply and demand.
The supply is increased(old news) and limited in scope.
Here's that photo, on the DPDW website.
30 will make quite a stack.
The cameras have not been assessable recently, I think they were up for 1 day out of the last 4 or 5.
No signs of racks last I saw.
I think we might know which spar it is in the GoM that sits in
8000 feet of water.
Starts with a P methinks.
Yep, you got to have an innie and an outie.
I remember seeing a photo of about 15 of them coiled on a dock.
30 would be quite impressive.
It's all good spec!
The finalists will be
notified by April 21, 2009 and will be identified by signs and literature at the
OTC exhibition.
On Monday, May 4th at 6:00 p.m., ASME-IPTI will host a private cocktail reception
to honor the finalists. All finalists and their representatives are invited to attend
the reception where the winner of this prestigious award will be revealed.
A press release announcing the finalists and BMEA winner will be
circulated to industry media following the Monday night award announcement
affording them the opportunity to visit the finalists’ displays during the
remainder of OTC.
Searching the Hub tonight, I see someone reported that they heard these oil and gas fields were in the Congo. #msg-37548416
Someone else asked "Since when is the Congo located in 8000' of ocean water?"
If you (re)read the press release, you will see that they are talking about two different orders.
"for deepwater oil and gas fields in West Africa and the Gulf of Mexico"
But we already knew that
Also of note is the SDB order was going to West Africa also.
"Sept. 10 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW) today announced orders for its patent pending SDB (Subsea Deployment Basket) systems totaling $1,000,000. These systems will be used to install hydraulic steel tube flying leads offshore West Africa and to..."
Just for the fwiw dept. of the DPDW board archives.
I wonder if anyone has heard from Steve about hospitality rooms, pictures from the show, etc?
There hasn't been much pre-show publicity from Deep Down, or so it seems to me.
The plot thickens, we have one or more mystery sellers AND one or more mystery buyers. These are sure interesting times for the company and the board.
best of luck to all
Swine Flu Does Not Affect OTC
POSTED: Monday, May 4, 2009
UPDATED: 6:08 pm CDT May 4, 2009
HOUSTON -- The swine flu did not seem to scare off thousands of attendees at the Offshore Technology Conference in Houston, which brings people from across the world, KPRC Local 2 reported Monday.
some video from inside
http://www.click2houston.com/news/19366686/detail.html#-
Many experienced market players automatically assume when a restrictive legend is removed, it is for the purpose of selling.
This is not always the case, but experience has shown time and again that legend removed = probable selling.
The other reason the legend is removed is for liquidity purposes, which translates into potential future sells.
Spec's post of May 1 might indicate there are one or more sellers. #msg-37476703
This is why we bother to keep track of the float increases, to let us know the supply situation.
edit: uncle, I see I need to type faster.
Cameras back online.
Here's a snap of the lay chute as it came back from the paint shop a couple days ago.
EDIT: should read...
Quoted from web page at given link
"Deep Down, Inc. manufactures subsea equipment and services for the oil and gas industry. Every year at the Offshore Technology Conference in Houston, there is a barbecue cook off party. Deep Down wanted to create a logo for their team. I guess Texans take their barbecue seriously. (:
A new client, W3 Advertising out of Stafford, Texas, asked me to supply the design.
Here's the winning selection I created for them."
-end quoted text-
http://schwartzrock.blogspot.com/2009/04/bar-b-cue-cook-off.html
Bar-b-cue Cook off
Bar-b-cue Cook off
Deep Down, Inc. manufactures subsea equipment and services for the oil and gas industry. Every year at the Offshore Technology Conference in Houston, there is a barbecue cook off party. Deep Down wanted to create a logo for their team. I guess Texans take their barbecue seriously. (:
A new client, W3 Advertising out of Stafford, Texas, asked me to supply the design.
Here's the winning selection I created for them.
http://schwartzrock.blogspot.com/2009/04/bar-b-cue-cook-off.html
They are going to start building some more of the big SDB carousels again.
Yes I have been checking in on the cameras. No big fabrication projects that I see, there looks to be several various installation type projects going on.
Spec showed us the new lay chute.
The tensioner is getting some interest.
Those 6' diameter or so yellow tubes are getting some activity.
Looks like some spools of flying lead steel tubing in the assembly bay.
Activity with the blue LARS last week under the gantry crane.
Question, where did the 36, 4 foot tall flotation buoys go?
They are still working in the assembly bay tonight.
Good digging jds.
Very nice find there BOBRIEN, thanks for sharing that great dd.
The news is getting out!
Construction costs are the only one I can think of, but even so, it would be mostly preliminary expenses. Some materials were just shipped in the 2nd Q to Flotec.
Nice find there spec, should be good for some recognition,
maybe we will even get a picture of Ron dressed in a suit at the show.
Nah, I bet he goes Hawaiian formal.
Keep in mind also that the majority of rig count declines are natural gas rigs, not oil rigs.
I have checked several sources, this is a recent one.
April 17, 2009
HOUSTON -(Dow Jones)- The number of rigs drilling for natural gas in the U.S. declined this week as producers continued to scale back exploration and production amid sliding energy prices, while the number of oil rigs showed a slight increase.
http://money.cnn.com/news/newsfeeds/articles/djf500/200904171422DOWJONESDJONLINE000739_FORTUNE5.htm
27 March 2009
US natural gas rig count sinks to near 6-yr low - Reuters
http://www.turkishweekly.net/other-news/320886/us-natural-gas-rig-count-sinks-to-near-6-yr-low-reuters.html
mauiguy2, just for the record, I was aware and posted the same.
I was not positive, and there was little follow up discussion.
I think generally the board was focused on all the negatives at that time.
#msg-34329524