Established 1999
     
8,000 companies from USA and India.  
   
Search over 25,500 news articles and 8,000 companies earnings    
 
Market Update : 
McDermott Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 11:46 AM ET December 01 2008


(Continued)

Email article | Print article

 
Andy Kaplowitz - Barclays Capital

Okay. John, and just a real quick follow up to that. If you look at these projects in the Middle East, what do you think in terms of - you said that they''d be done basically by the beginning of next year, in general. Is that when we can start focusing on the rest or--?

John A. Fees

No, the pipeline phase of these projects go on, basically they step out, but they go on through basically 2009, through 2009 and once the projects goes and dribbles up a little bit into ''10. So it''s pretty much from now through the end of next year for the pipeline phase then there are other aspects of these projects that will go beyond that.

Andy Kaplowitz - Barclays Capital

I just wanted to clarify that. Thank you.

Operator

And your next question comes from the line of Stephen Gengaro of Jefferies & Company. Please proceed.

Stephen Gengaro - Jefferies & Co.

Thank you, good morning.

John A. Fees

Hi Steve.

Michael S. Taff

Good morning Steve.

Stephen Gengaro - Jefferies & Co.

Just as a follow-up, when you both...I guess certain assets, I guess about a year ago plus, our thought was they would help efficiency and execution and I''m just trying to get a better sense for asset utilization and efficiency and how we should think about the overall business? I mean, it''s real tough to sort of think about the efficient use of your asset on these jobs and other jobs. Is it something which could snowball and get worse?

Michael S. Taff

Stephen, I don''t think so. I mean when we bought this Secunda asset, those assets are certainly being used today. I think we''ve talked in the past that there was 12 or 14 of those vessels that we acquired. A number of them are still on charter up in the Canadian market. There were really kind of four of those vessels that we really coveted; two of those are actively working in the Middle East and/or Asia Pacific market. The other two are in the process of being retrofitted. But those are not project...those are not vessels that can go out and particularly lay this type of pipes, large trunk line pipe, they''re more support vessels.

The whole idea of the Secunda acquisition was they can do...we can support our diving operations from those and do some kind of tie in work and stuff like that. So, once the pipelines have been laid, we can bring those vessels in and then kind of finish off the finishing touches and then send our more expensive vessels, the large Derrick barges on to other projects. And that’s certainly, all incorporated in the scheduling of these projects.

John A. Fees


$13.61
2.79%
click on symbol for profile



  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19

 


 
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
© 1999-2012 123jump.com. All rights reserved