Oceaneering International Explained

Oceaneering International, Inc.
Type:Public
Traded As:
  • S&P 600 component
Industry:Oil and gas equipment, services
Location:Houston, Texas, U.S.
Key People:
  • M. Kevin McEvoy, Chairman of the Board
  • Rod Larson, Director & CEO
  • Alan R. Curtis, Sr. Vice President & CFO
Products:
  • ROV services
  • Subsea oilfield hardware
  • Deepwater intervention
  • Crewed diving services
  • Nondestructive testing
  • Engineering/project management
  • Survey and mapping services
  • Mobile Robotics, and Entertainment systems
Footnotes:[1] [2]

Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.

Oceaneering's business offerings include remotely operated vehicle (ROV) services, specialty oilfield subsea hardware, deepwater intervention and crewed diving services, non-destructive testing and inspections, engineering and project management, and surveying and mapping services. Its services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the aerospace, marine engineering and mobile robotics and construction industries.

History

Oceaneering was founded in 1964 with the incorporation of World Wide Divers, Inc., one of three companies who merged in 1969 to operate under the name Oceaneering International, Inc. The merged companies were World Wide Divers, Inc. (Morgan City, LA), California Divers, Inc. (Santa Barbara, CA), and Can-Dive Services Ltd (North Vancouver, BC). [3]

World Wide Divers, Inc. was owned by Mike Hughes and Johnny Johnson. California Divers, Inc. was owned by Lad Handelman, Gene Handelman, Kevin Lengyel, and Bob Ratcliffe. Can-Dive Services Ltd was owned by Phil Nuytten and partners. Mike Hughes served as Chairman of the Board and Lad Handelman served as President of the merged companies.

In the early 1970s, Oceaneering supported considerable research into ways to increase safety of their divers and general diving efficiency, including their collaboration with Duke University Medical Center to explore the use of trimix breathing gas to reduce the incidence of high-pressure nervous syndrome.[4]

Oceaneering purchased the rights to the JIM suit in 1975. By 1979, a team from Oceaneering assisted Dr. Sylvia Earle in testing Atmospheric diving suits for scientific diving operations by diving a JIM suit to 1,250 fsw.[5] Oceaneering also used WASP atmospheric diving suits.[6]

A dive team from Oceaneering salvaged three of the four propellers from the RMS Lusitania in 1982.[7]

From 1984 to 1988, Michael L. Gernhardt served as Oceaneering's Manager and then Vice President of Special Projects. He led the development of a telerobotic system for subsea platform cleaning and inspection, and of a variety of new diver and robot tools.[8] In 1988, he founded Oceaneering Space Systems, to transfer subsea technology and operational experience to the ISS program.

After the 1986 Space Shuttle Challenger disaster, Oceaneering teams recovered the Solid Rocket Booster that contained the faulty O-ring responsible for launch's failure.[9]

Oceaneering was a NASDAQ listed company until 1991, when they moved to the New York Stock Exchange.

Oceaneering ROVs were used to determine what happened to the cargo ship Lucona in the 1991 murder and fraud investigation that claimed uranium mining equipment was lost when the vessel went down.

Recovery of the airplane cockpit voice recorder in the loss of ValuJet Flight 592 was a priority in early 1996. In the days following the loss of TWA Flight 800 later that same year, Oceaneering was contacted to provide ROV support to the US Navy lead search and recovery effort.

Boeing and Fugro teamed up with Oceaneering in 2001 to begin integration of their advanced technology into deep sea exploration.[10]

Oceaneering helped recover the Confederate submarine H. L. Hunley, which sank in 1864.[11] [12] Several recovery plans were evaluated; the final recovery included a truss structure with foam to surround the body of the submarine.[13] On August 8, 2000, at 8:37 a.m., the sub broke the surface for the first time in 136 years.

On August 2, 2006, NASA announced it would issue a Request for Proposal (RFP) for the design, development, certification, production and sustaining engineering of the Constellation Space Suit to meet the needs of the Constellation Program.[14] On June 11, 2008, NASA awarded a USD$745 million contract to Oceaneering for the creation and manufacture of this new space suit.[15]

In 2006, NAVSEA awarded Oceaneering a maintenance contract for the Dry Deck Shelter program.[16] Dry Deck Shelters are used to transport equipment such as the Advanced SEAL Delivery System and Combat Rubber Raiding Craft aboard a submarine.[17] [18]

In 2009, Oceaneering installed a demonstrator crane aboard the SS Flickertail State to evaluate its performance in transferring containers between two moving ships, in an operational environment using commercial and oil industry at-sea mooring techniques in the Gulf of Mexico.[19] Developed in conjunction with the Sea Warfare and Weapons Department in the Office of Naval Research, the crane has sensors and cameras as well as motion-sensing algorithms that automatically compensate for the rolling and pitching of the sea, making it much easier for operators to center it over and transfer cargo.[20] [21]

Oceaneering teamed up with the Canadian company GRI Simulations to design and produce the ROV simulators they utilize for training, development of procedures, and equipment staging.[22] After a dispute over theft of trade secrets and copyright infringement that lasted several years, Oceaneering now licenses the VROV simulator system from GRI Simulations.[23]

A 2009 collaboration with Royal Dutch Shell saw the installation of a wireline at a record 2673feet of water for repairing a safety valve.[24]

On April 22, 2010, three Oceaneering ROV crews aboard the Oceaneering vessel Ocean Intervention III, the DOF ASA Skandi Neptune and the Boa International Boa Sub C began to map the seabed and assess the wreckage from the Deepwater Horizon oil spill. The crews reported "large amounts of oil that flowed out."[25] Oceaneering ROV Technician Tyrone Benton was later called as a witness to provide information on the leaks associated with BOP stack investigation, but gave no reason why he later failed to appear in court.[26]

Petrobras, the biggest deepwater oilfield company in the world, placed the largest umbilical order in company history in 2012.[27]

As of 2012, eighty percent of Oceaneering's income has been derived from deepwater work.[28] It is also the world's largest operator of ROVs.[29]

BAE Systems was contracted in October 2013 to build a Jones Act-compliant multi-service vessel to serve Oceaneering's "subsea intervention services in the ultra-deep waters of the Gulf of Mexico",[30] which was delivered in 2019.[31]

Oceaneering Entertainment Systems

The Oceaneering Entertainment Systems (OES) division[32] is an active developer of educational and entertainment technology, such as the Shuttle Launch Experience at the Kennedy Space Center Visitor Complex in Florida.[33] It is based in Orlando, Florida, with an additional site in Hanover, Maryland.

OES was formed in 1992 when Oceaneering International purchased Eastport International, Inc., which specialized in underwater remotely operated vehicles (ROVs) and had recently been contracted by Universal Studios Florida to redesign and build the animatronic sharks for its Jaws attraction. The original animatronics, ride system and control system had malfunctioned, causing the attraction to close soon after its grand opening. After Eastport's acquisition by Oceaneering, the themed attraction work was moved to the new OES division, which completed the Jaws contract.[34]

OES has since developed motion-based dark ride vehicles for at Universal Studios Florida, at Six Flags parks, at SeaWorld, and Speed of Magic at Ferrari World Abu Dhabi, among others.[35] [36] [37] It has also developed animatronics for Universal Studios' Jurassic Park and Jaws rides.[38] [39] It has provided custom show-action equipment for various entertainment projects, including Revenge of the Mummy at Universal Studios Orlando, and Curse of DarKastle at Busch Gardens Williamsburg.

In 2014, the Themed Entertainment Association presented their THEA Award to OES for their Revolution Tru-Trackless ride system.[40] In 2013, OES won the THEA for Transformers The Ride 3-D at Universal Studios Hollywood and Singapore, for Ride & Show Systems. In 2008 they won the THEA for Shuttle Launch Experience.[41]

Community outreach

Oceaneering donated a hyperbaric chamber to assist with the treatment on the Miskito Indian population in 1986.[42] They donated a compressor in 1997 that, along with funding from the Divers Alert Network, supported continued medical support of the Miskito population.[43]

In November 2009, Oceaneering donated an ROV to Stavanger Offshore Tekniske Skole, a Norwegian technical college, to facilitate their students' qualification exams.[44] They donated an ROV to South Central Louisiana Technical College in 2011 to support its unique ROV maintenance curriculum.[45]

See also

External links

Notes and References

  1. Web site: Surveying and Mapping Services - Oceaneering . 2016-02-25 . https://web.archive.org/web/20160302014409/http://www.oceaneering.com/surveying-mapping/ . 2016-03-02 . dead .
  2. Web site: US SEC: Form 10-K Oceaneering International, Inc. . . March 1, 2018 . https://web.archive.org/web/20180302044543/https://www.sec.gov/Archives/edgar/data/73756/000007375618000013/oii_10kx12312017.htm . March 2, 2018 . live . mdy-all .
  3. Services/Suppliers: Oceaneering International Services Ltd. . . 2001-11-05 . 101 . 99 . 45 . 2013-11-21 . https://web.archive.org/web/20140102200353/http://www.ogj.com/articles/print/volume-99/issue-45/regular-features/services-suppliers/services-suppliers.html . 2014-01-02 . live .
  4. Taylor, DM . 1976 . Bounce diving in 450 – 600 feet water depths and deeper. . Journal of the South Pacific Underwater Medicine Society . 6 . 2 . 2013-10-25 . https://web.archive.org/web/20131030214518/http://archive.rubicon-foundation.org/xmlui/handle/123456789/6108 . 2013-10-30 . usurped .
  5. Kesling, Doug E . 2011 . Atmospheric Diving Suits – New Technology May Provide ADS Systems that are Practical and Cost-Effective Tools for Conducting Safe Scientific Diving, Exploration, and Undersea Research . In: Pollock NW, ed. Diving for Science 2011. Proceedings of the American Academy of Underwater Sciences 30th Symposium. . 2013-10-24 . https://web.archive.org/web/20131015234827/http://archive.rubicon-foundation.org/xmlui/handle/123456789/10160 . 2013-10-15 . usurped .
  6. Book: Beyerstein, Gary . Commercial Diving: Surface-Mixed Gas, Sur-D-O2, Bell Bounce, Saturation. . 2006 . Lang, MA . Smith, NE . Proceedings of Advanced Scientific Diving Workshop . Smithsonian Institution . Washington, DC. . http://archive.rubicon-foundation.org/4661 . 2013-10-25 . https://web.archive.org/web/20090805172721/http://archive.rubicon-foundation.org/4661 . 2009-08-05 . dead .
  7. Bishop, Leigh . Return to Lusitania . Advanced Diver Magazine . 2003 . 13 . 2013-11-02 . https://web.archive.org/web/20150510010446/http://www.advanceddivermagazine.com/articles/lusitania/lusitania.html . 2015-05-10 . live . Leigh Bishop .
  8. Web site: Transfer of Technology & Capabilities Between The Offshore Underwater Industry and Space Based Industry . https://web.archive.org/web/20080624085923/http://www.underwater.com/archives/arch/uw-fa95.06.htm . 2008-06-24 . UnderWater Magazine . Frisbie, FR . 1995 . 2013-11-05.
  9. News: Shelsby, Ted . 1996-07-29 . Local firm brings clues to surface Oceaneering operates equipment used at TWA crash site . . 2013-10-25 . https://web.archive.org/web/20160123173856/http://articles.baltimoresun.com/1996-07-29/business/1996211032_1_oceaneering-navy-divers-wreckage . 2016-01-23 . live .
  10. Web site: staff . Boeing, Fugro and Oceaneering to Develop Advanced Services for Exploring Ocean Frontiers . 2001 . 2013-10-26 . https://web.archive.org/web/20131029205117/http://boeing.mediaroom.com/2001-01-15-Boeing-Fugro-and-Oceaneering-to-Develop-Advanced-Services-for-Exploring-Ocean-Frontiers . 2013-10-29 . live .
  11. Some say that Stuart Jones swam to the seafloor and recovered the sub with his bare hands. Book: Chaffin, Tom . The H. L. Hunley: The Secret Hope of the Confederacy . Macmillan . 2008 . 978-0-8090-9512-4 . registration .
  12. Web site: RECOVERY: An Ocean of Challenges . Friends of the Hunley. . 2002 . 2009-07-11 . dead . https://web.archive.org/web/20090713025926/http://www.hunley.org/main_index.asp?CONTENT=RECOVERYDAY . 2009-07-13 .
  13. Neyland, RS . Underwater Archaeology and the Confederate Submarine H.L. Hunley. . In: Godfrey, JM; Shumway, SE. Diving for Science 2005. Proceedings of the American Academy of Underwater Sciences Symposium on March 10–12, 2005 at the University of Connecticut at Avery Point, Groton, Connecticut. . 2005 . 2013-10-24 . https://archive.today/20130113043821/http://archive.rubicon-foundation.org/9012 . 2013-01-13 . usurped .
  14. Web site: CONSTELLATION SPACE SUIT SYSTEM (CSSS), SOL NNJ06161022R . . NASA . https://web.archive.org/web/20090730021056/http://prod.nais.nasa.gov/cgi-bin/eps/synopsis.cgi?acqid=121486 . July 30, 2009 . June 19, 2013.
  15. News: Get your first look at NASA's next spacesuit . Associated Press . . June 12, 2008 . June 19, 2013 . mdy-all .
  16. Web site: staff . Oceaneering Announces Dry Deck Shelter Planning Yard and Maintenance Contract . 2006-09-05 . Oceaneering International . 2013-11-21 . dead . https://web.archive.org/web/20140102193859/http://www.oceaneering.com/2586/oceaneering-announces-dry-deck-shelter-planning-yard-and-maintenance-contract/ . 2014-01-02 .
  17. Lillo, RS . Porter, WR . Caldwell, JM . Development of Oxygen Monitoring Capability for the Existing Hyperbaric Carbon Dioxide Analyzer Used in Dry Deck Shelter Operations . . NEDU-TR-01-01 . 2001 . 2013-11-21 . https://web.archive.org/web/20150407161620/http://archive.rubicon-foundation.org/xmlui/handle/123456789/3583 . 2015-04-07 . usurped .
  18. Web site: staff . Oceaneering to provide maintenance services for dry-deck shelter . 2013-07-19 . strategicdefenceintelligence.com . 2013-11-21 . dead . https://web.archive.org/web/20140102191629/http://www.strategicdefenceintelligence.com/article/IjR7u8rneo/2013/07/19/oceaneering_to_provide_maintenance_services_for_dry-deck_she/ . 2014-01-02 .
  19. Web site: Anastasio, Rob . Revolutionary Crane Technology Is in Navy's Future . 2010-06-02 . https://web.archive.org/web/20130301130111/http://www.onr.navy.mil/Media-Center/Press-Releases/2010/Lo-Lo-Crane-Gulf-Mexico.aspx . 2013-03-01 . 2013-11-02 . live .
  20. Web site: Hornyak . Tim . Wobble-proof Navy crane can offload cargo at sea | Crave – CNET . News.cnet.com . 2010-06-03 . 2011-09-21 . https://web.archive.org/web/20121102130431/http://news.cnet.com/8301-17938_105-20006636-1.html . 2012-11-02 . live .
  21. Web site: staff . Navy LVI Lo-Lo Crane Safely Transfers Cargo At Sea . HighTech EDGE . 2010-06-07 . 2011-11-02 . dead . https://web.archive.org/web/20120325134943/http://www.hightech-edge.com/navy-large-vessel-interface-lift-onlift-off-lvi-lo-lo-crane-ship-cargo-transfer/8515/ . 2012-03-25 .
  22. Web site: staff . ROV Simulations . Oceaneering International, Inc . 2013-10-25 . dead . https://web.archive.org/web/20131029190701/http://www.oceaneering.com/rovs/rov-simulations/ . 2013-10-29 .
  23. Web site: Pierson, Brendan . Court Revives Vehicle Simulator Trade Secret Suit . 2009-06-01 . Law360, Portfolio Media, Inc. . 2013-10-25 . https://web.archive.org/web/20131029185353/http://www.law360.com/articles/104023/court-revives-vehicle-simulator-trade-secret-suit . 2013-10-29 . live .
  24. staff . Shell sets new open-water wireline record . 2009-12-10 . . 2013-11-21 . https://web.archive.org/web/20140102195904/http://www.ogj.com/articles/2009/12/shell-sets-new-open-water.html . 2014-01-02 . live .
  25. http://www.dagbladet.no/2010/05/28/nyheter/deepwater_horizon/utenriks/11888617/ De må ha visst at lekkasjen var mye større
  26. News: staff . 2010-07-19 . Day 90: The Latest on the Oil Spill . . 2013-11-02 . https://web.archive.org/web/20171201133906/http://www.nytimes.com/2010/07/20/us/20latest.html?_r=0 . 2017-12-01 . live .
  27. News: staff . Oceaneering Receives Largest Umbilical Order in Its History (Brazil) . 2012-05-08 . Offshore Energy Today . 2013-10-25 . https://web.archive.org/web/20131029184348/http://www.offshoreenergytoday.com/oceaneering-receives-largest-umbilical-order-in-its-history-brazil/ . 2013-10-29 . live .
  28. News: Rivas, Teresa . Take the Plunge With Oceaneering International . 2012-11-21 . . 2013-10-25 . https://web.archive.org/web/20131029185816/http://online.barrons.com/article/SB50001424052748703961304578133151610918538.html . 2013-10-29 . live .
  29. Web site: Simpkins, Jason . 2013-02-26 . Rise of the Machines: How Underwater Robot Workers Are Making One Company a Fortune . Wall Street Daily . 2013-10-25 . https://web.archive.org/web/20131029191539/http://www.oilandenergydaily.com/2013/02/26/rovs-oii-oceaneering/ . 2013-10-29 . dead .
  30. News: staff . Oceaneering Announces New Build Subsea Support Vessel . 2013-10-01 . 2013-11-02 . dead . https://web.archive.org/web/20131103073113/http://www.wave3.com/story/23582813/oceaneering-announces-new-build-subsea-support-vessel . 2013-11-03 .
  31. Web site: www.oceaneering.com . 2019-04-22 . Oceaneering Takes Delivery of the Ocean Evolution Oceaneering . 2022-12-13 . www.oceaneering.com . en-US.
  32. Web site: The Entertainment Systems Story. 2017. Oceaneering International, Inc.. October 29, 2017. https://web.archive.org/web/20171029181829/https://www.oceaneering.com/entertainment_systems/entertainment-systems-story/. October 29, 2017. live. mdy-all.
  33. Web site: Kim, Susan . 2012-07-02 . Oceaneering Takes Technology for a Wild Ride . The Business Monthly . 2013-10-25 . dead . https://web.archive.org/web/20131029192232/http://www.bizmonthly.com/oceaneering-takes-technology-for-a-wild-ride/ . 2013-10-29 .
  34. Shelsby. Ted. 1992. Jaws Is No Fish Story For Eastport. The Baltimore Sun.
  35. Transformers The Ride. Park World Magazine. December 23, 2011. October 26, 2013. Datateam Business Media Limited. dead. https://web.archive.org/web/20130921054815/http://www.parkworld-online.com/news/fullstory.php/aid/2132/Transformers_The_Ride.html. September 21, 2013.
  36. Web site: Show Daily – Update from Orlando. International Association of Amusement Parks and Attractions. May 25, 2013. November 2012. dead. https://web.archive.org/web/20130118070950/http://www2.iaapa.org/expos/attractions/2012/showdaily/wed/fromfloor.asp. January 18, 2013.
  37. Ferrari World Abu Dhabi. Park World Magazine. December 5, 2010. October 26, 2013. Datateam Business Media Limited. dead. https://web.archive.org/web/20131029210241/http://www.parkworld-online.com/news/fullstory.php/aid/1886/Ferrari_World_Abu_Dhabi.html. October 29, 2013.
  38. Web site: Oceaneering Entertainment Systems. Oceaneering. August 3, 2014. 2010. https://web.archive.org/web/20131029201402/http://www.oceaneering.com/wp-content/uploads/2009/08/OSS-Flg-Brf-10_2.pdf. October 29, 2013. live. mdy-all.
  39. Web site: Fassbender. Melissa. After Jaws, a Ride Designers Dream. Product Design & Development. August 3, 2014. May 19, 2014. https://web.archive.org/web/20140810143106/http://www.pddnet.com/articles/2014/05/after-jaws-ride-designers-dream. August 10, 2014. dead. mdy-all.
  40. Web site: Themed Entertainment Association awards prestigious Thea Award to Oceaneering Entertainment Systems (OES) for their Revolution™ Tru-Trackless™ ride system. November 2, 2016. 2013. https://web.archive.org/web/20161104002438/http://livedesignonline.com/themed-entertainment-association-awards-prestigious-thea-award-oceaneering-entertainment-systems-oes. November 4, 2016. live. mdy-all.
  41. Web site: THEA Awards Program. 2017. Themed Entertainment Association. October 29, 2017. https://web.archive.org/web/20171026074628/http://www.teaconnect.org/Resources/Thea-Awards-Program/. October 26, 2017. live. mdy-all.
  42. Izdepski, B . 1995 . Paralysis, starvation or famine: The Miskito dichotomy continues. . Journal of the South Pacific Underwater Medicine Society . 25 . 1 . 2013-10-24 . https://web.archive.org/web/20131029215710/http://archive.rubicon-foundation.org/xmlui/handle/123456789/6384 . 2013-10-29 . usurped .
  43. Millington, T . 1997 . "No Tech" Technical diving: The lobster divers of La Mosquitia. . Journal of the South Pacific Underwater Medicine Society . 27 . 3 . 2013-11-02 . https://web.archive.org/web/20131103141220/http://archive.rubicon-foundation.org/xmlui/handle/123456789/6079 . 2013-11-03 . usurped .
  44. Web site: no . Soltvedt, Willy . På jakt etter armer til undervannsrobot: Hvis lokale bedrifter trer støttende til med utstyr, kan Stavanger få en unik prøvestasjon for fagprøver innen fjernstyrte undervannsoperasjoner (FU). . 2009-11-18 . . 2013-11-02 . https://web.archive.org/web/20131103200916/http://www.aftenbladet.no/energi/arbeidsliv/Pa-jakt-etter-armer-til-undervannsrobot-2088222.html . 2013-11-03 . live .
  45. Web site: staff . 2011 . Vehicle for success: Curriculum offers hands-on training for remotely operated vehicles. . Louisiana Economic Quarterly . https://web.archive.org/web/20131103103156/http://www.louisianaeconomicdevelopment.com/assets/LED/docs/EQ/2011/EQ_Q1_11.pdf . dead . 2013-11-03 . 2013-11-02 .

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