American Oilfield Divers Inc. Acquires M/V OSA DEFENDER.HOUSTON--(BUSINESS WIRE)--July 8, 1997--American Oilfield Divers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DIVE) announced today that it has increased its Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east deepwater vessel fleet with the acquisition of the dynamically positioned M/V M/V Motor Vehicles M/V Motor Vessel M/V Merchant Vessel OSA 1. OSA - Open Scripting Architecture. 2. OSA - Open System Architecture. DEFENDER from a Tidewater, Inc. affiliate for an undisclosed sum. The OSA DEFENDER, which will be renamed the AMERICAN DEFENDER, is a 200-foot, diving support vessel A diving support vessel is a ship that is used as a floating base for professional diving projects. Commercial Diving Support Vessels emerged during the 1960s and 1970s when the need arose for diving operations to be performed below and around oil production platforms and . AOD See HD DVD. will utilize the vessel to support its expanding deepwater subsea services capabilities in the Gulf of Mexico. The new vessel will support AOD's growing capabilities in advanced deepwater intervention, including its remotely operated vehicle Remotely operated underwater vehicles (ROVs) is the common accepted name for tethered underwater robots in the offshore industry. ROVs are unoccupied, highly maneuverable and operated by a person aboard a vessel. fleet of Viper, Scorpion and Triton XL vehicles rated to 2,500 msw and its NEWTSUIT operations, AOD's one-atmospheric diving suits. "The acquisition of the OSA DEFENDER represents another step in our deepwater expansion strategy, and allows us to better serve our clients in the growing deepwater subsea services market," said Rod Stanley, AOD's President and Chief Executive Officer. "Our Gulf of Mexico deepwater asset base now includes two dynamically positioned vessels, the latest technology in work-class remotely operated vehicles and four, 1,200-ft. NEWTSUITs. Going forward, we anticipate adding similar assets as market fundamentals and client demand dictate." The AMERICAN DEFENDER is equipped with a 25-ton, 12-meter crane and has quarters for 60 people. The vessel should be ready for service during the fourth quarter of 1997 following its voyage from West Africa and a drydocking period to install a new dynamic positioning system, moonpool enlargement and certain other modifications. AOD is a leading provider of diving services, subsea products, marine construction and environmental services to the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico, U.S. West Coast, internationally and to certain U.S. inland customers. CONTACT: American Oilfield Divers Inc., Houston Greg Rosenstein, 713/430-1100 or Cathy Green, 713/430-1100 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion