All Eyes on McDermott

All Eyes on McDermott
Here are Rigzone's top stories during the last week, just in case you missed them...

Here are Rigzone’s top stories during the last week, just in case you missed them…

What Happens to McDermott Stock?

A few readers asked us this question after McDermott’s restructuring announcement. The company said following delisting from the New York Stock Exchange, McDermott shares will continue to trade in the immediate term in the over-the-counter market place but added that they are proposed to be cancelled as part of the restructuring.

McDermott Gets NYSE Delisting Date

It emerged that the New York Stock Exchange intends to remove the entire class of the common stock of McDermott International, Inc. from listing and registration on the Exchange on February 17.

McDermott Wins Large SURF BHP Contract

Another popular article on Rigzone this week about McDermott. The company was awarded a large contract by BHP to provide subsea umbilicals, risers and flowlines, transportation and installation, pre-commissioning of one jacket and topsides for the Ruby Project, offshore Trinidad and Tobago. McDermott defines a large contract as between $50- and $250 million.

Coronavirus Oil Demand Destruction is Unprecedented

Rigzone’s contributor Gaurav Sharma noted that with the coronavirus pandemic, all old projections are out of the window. This may yet be the year where there might not just be considerably lower demand growth, but actually negligible demand growth or even a possible decline, according to Gaurav.

$500MM+ in Offshore Contracts Go to Saipem

Saipem won offshore contracts in multiple regions valued at more than $500 million. Contract awardees included Saudi Aramco, Eni and Noble Energy.

Here’s What’s Coming

Keep an eye out for these articles on Rigzone later today…

  • Cimic Wins Contract Extension for Chevron-run Facilities
  • India's Upside for Oil Demand Seems Unlimited  
  • Global Oil, Gas Deal Value Sank in 2019               
  • Kosmos’ Ghana Performance Boosts 1P Reserves
  • McDermott Awarded Permian Storage Contract

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Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

WILLIAM  |  February 14, 2020
Thanks for looking out for us shareholders as usual!