Delaware (State or other jurisdiction of incorporation) | 1-10945 (Commission File Number) | 95-2628227 (IRS Employer Identification No.) |
11911 FM 529 Houston, TX (Address of principal executive offices) | 77041 (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
• | our belief we have strong market positions; |
• | our belief we have a solid balance sheet; |
• | our belief we have financial flexibility to grow the company with more focus on operating expenditures in the production phase of the offshore life cycle; |
• | our belief that, longer term, deepwater is still critical to reserve replenishment; |
• | our belief that we will provide up to 10 ROVs and subsea tooling aboard certain Heerema's deepwater construction vessels and semi-submersible crane vessels on a global basis through 2020; |
• | our belief that we will provide up to eight ROVs, survey and associated services, including subsea tooling, engineering, communication and data solutions, to support Mærsk's global operations; |
• | our belief regarding the operational benefits of our remote ROV control capability, such as via our Norway Mission Center; |
• | our belief that we can provide ROV technologies that enable better control and video imaging, precise tool manipulation, and adherence to industry requirements; |
• | forecast information regarding hardware capex and subsea installations; |
• | our belief that we can deliver a one-stop-shop solution including vessel and ROV services, tooling, and well intervention solutions around the world; |
• | our belief in the capabilities and benefits of our well intervention systems; |
• | our estimate that the Ocean Evolution will be delivered at the end of 2017; |
• | our organic capex estimate for 2017; |
• | our intention to continue to consider investments that augment our service or product offerings, with more focus on our customers' operating expenditures; |
• | our suspension of quarterly dividends; |
• | our intention to consider share repurchases; |
• | our belief that we are leveraged to deepwater, and traits of deepwater projects; |
• | forecast information regarding incremental production sources and our belief that in the long term offshore will play an essential role in global oil supply; |
• | our 2017 fourth quarter and full year, and 2018 full year outlook; |
• | our belief that the offshore oilfield services market continues to be challenging; |
• | our intention to look for opportunities to grow the company; |
• | our intention to defend, or grow our market share; |
• | our intention to engage more directly with customers to develop value added solutions that increase their cash flow; |
• | our expectation to drive efficiencies throughout the organization; |
• | our belief that we can control costs and maintain an organization commensurate with existing business levels; and |
• | our belief that we can maintain a strong balance sheet. |
• | worldwide demand for oil and gas; |
• | general economic and business conditions and industry trends; |
• | delays in deliveries of deepwater drilling rigs; |
• | delays in or cancellations of deepwater development activities; |
• | the ability of the Organization of Petroleum Exporting Countries, or OPEC, to set and maintain production levels; |
• | the level of production by non-OPEC countries; |
• | the ability of oil and gas companies to generate funds for capital expenditures; |
• | contract modifications or cancellations; |
• | domestic and foreign tax policy; |
• | laws and governmental regulations that restrict exploration and development of oil and gas in various offshore jurisdictions; |
• | technological changes; |
• | the political environment of oil-producing regions; |
• | the price and availability of alternative fuels; and |
• | overall economic conditions. |
OCEANEERING INTERNATIONAL, INC. | |||
Date: | November 27, 2017 | By: | /S/ W. Cardon Gerner |
W. Cardon Gerner | |||
Senior Vice President and Chief Accounting Officer |