Rumours that Houston oilfield service company McDermott International is engaged in bankruptcy talks with lenders sent the company's stock price plummeting by as much as two-thirds of its value after the close of market on Monday.
The New York Stock Exchange has issued a delisting warning to struggling Houston oilfield service company McDermott International.
Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City.
McDermott International Inc.’s shares and bonds jumped after the energy industry contractor said it’s exploring the sale of its Lummus Technology business, a move that may give the heavily indebted company some badly needed liquidity.
Oil giant BP has named McDermott International as the contractor for work on the Cassia C topsides off Trinidad.
McDermott International has won a contract to install umbilicals and flowlines at the Shell's Perdido development in the Gulf of Mexico.
Oilfield service firms McDermott and BHGE have secured work on the Shwe gas field development offshore Western Myanmar.
Subsea 7’s £1.4billion takeover bid for McDermott represents a move to “assume the throne” for the global subsea umbilicals, risers and flowlines market (SURF), according to analysts Rystad Energy.
US firm McDermott International have been hired by Saudi Aramco to provide 13 jackets to projects off the coast of Saudi Arabia.
Upstream services provider McDermott International Inc have announced a contract award to supply Engineering, Procurement, Construction and Commissioning (EPCC) work to the Maersk Oil Tyra Redevelopment Project.
American oilfield services and equipment provider McDermott International intends to build a fabrication yard at a shipbuilding complex planned by national oil giant Saudi Aramco on the kingdom's east coast.