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OII > SEC Filings for OII > Form 8-K on 6-Nov-2013All Recent SEC Filings




Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure.

On November 7, 2013, M. Kevin McEvoy, our President and Chief Executive Officer, will deliver a presentation at our Investor & Analyst Day featuring our Subsea Products - Tooling operation in Houston, TX. Interested parties may view the handouts for the presentation by using the Investor Relations link at Oceaneering's website,, beginning on November 6, 2013 at approximately 4:00 p.m. Central Standard Time.
The information furnished pursuant to this Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. Please note that certain information contained in the handouts and prepared statements for the one-on-one meetings are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 and are subject to the "Safe Harbor" provisions of those statutes. Forward-looking statements are generally accompanied by words such as "estimate, " "project, " "predict," "believe," "expect," "anticipate," "plan," "guidance," "forecast," "budget," "goal" or other words that convey the uncertainty of future events or outcomes. Among other items, the forward-looking statements in the handouts for the presentation and accompanying prepared statements include:
Our expectation that our 2013 earnings per share will be in the range of $3.35 to $3.40;

         Our belief that our Subsea Products and Subsea Projects operations will
          perform better than we had forecast when we issued our initial 2013
          earnings per share guidance of $3.00 to $3.25 in October 2012.

         Our expectation that our 2013 earnings will be a record for us, and up
          more than 25% from 2012;

         Our expectation that our 2014 earnings per share will be in the range
          of $3.90 to $4.10;

         Our anticipation that in 2014 there will be continued global demand
          growth for our services and products to support deepwater drilling,
          field development and inspection, maintenance and repair activities;

         Our anticipation that all of our oilfield operating segments will have
          higher operating income in 2014 compared to what we anticipate in 2013,

?                  ROVs on greater service demand to support drilling and
                   vessel-based projects, led by increased activity offshore

? Subsea Products on higher demand for all our major product lines;

?                  Subsea Projects on growth in deepwater intervention activity
                   in the U.S. Gulf of Mexico and additional work offshore
                   Angola; and

?                  Asset Integrity on increased service revenue in most of the
                   geographic areas in which we operate;

         Our belief that all our major Subsea Products business segment product
          lines (tooling, umbilicals, installation and workover control systems
          (IWOCS) services, and subsea hardware) have good growth prospects, and
          that tooling offers us the highest operating income growth opportunity
          over the next five years;

         Our belief that our five-year outlook in general, and for tooling in
          particular, is very good as we anticipate global demand growth for our
          services and products to support deepwater drilling, field development
          and inspection, maintenance and repair activities;

         Our belief that, given the announcements of new floating drilling rigs
          being built and assuming a future fleet utilization of 90%, demand for
          those rigs will continue to rise for at least the next five years;

         Our belief that floating rig use may grow by 40% during the next five
          years, and drive demand for our ROV services and associated tooling we
          provide to support drilling operations;

         Our belief that growth in drilling has significant implications for
          future growth of deepwater field development activity, and follow-on
          life-of-field maintenance work, which should further increase demand
          for our ROVs on vessels, and our Subsea Products and Subsea Projects

         Our belief that subsea tree installations lead to connection hardware
          sales and vessel-based ROV and tooling demand;

         Our belief that our Subsea Products operating income is related to the
          number of subsea completions in service;

         Our belief that the projected rise in tree installations and the
          growing level of subsea completions in service will act as catalysts
          for future growth of our Subsea Products and Subsea Projects operations
          and profits;

         Our belief that, in regard to our tooling operations, life-of-field
          inspection, maintenance and repair contributes the most to our
          operating income, followed by construction and then drilling

         Our assessment of profit growth opportunities over the next five years
          regarding the tooling we sell and the tooling we rent or offer as a

         Our belief that tooling to support the construction and production
          phases of a field's life cycle offers us more profit growth potential
          than that of the drilling phase;

         Our estimate of the relative profit rankings for 2017 for our tooling
          categories of: drilling as good; construction as better; and production
          and life-of-field inspection, maintenance and repair as best, with all
          three increasing over that of 2013;

         Our anticipation that increased tooling demand, with an emphasis on the
          service/rental side, to support the ongoing IMR effort on additional
          subsea fields in production will be the largest single growth driver.

         Our opinion that to the extent that subsea processing is adopted in
          future field development installations, tooling demand will be even

         Our belief that tooling will be needed for the inspection and
          monitoring of the processing equipment to perform, for example,
          vibration analysis of rotating hardware.

         Our belief that tooling will also be needed to recover and reinstall
          subsea processing equipment modules for repair or replacement.

?         Our belief that some deepwater projects over the next five years may

continue to experience the same major issues they have in the past:

cost overruns;

production start-up delays; and

technical challenges;

         Our belief that, notwithstanding the aforementioned issues, the sheer
          volume of work being considered will carry the day and there will
          likely be a meaningful pickup in deepwater activity over the next five
          years and this will provide growth opportunities for our tooling
          offerings, and we are well positioned to participate in this growth.

These forward-looking statements are based on our current information and expectations that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially from those indicated in the forward-looking statements are:

worldwide demand for oil and gas;

general economic and business conditions and industry trends;

delays in deliveries of deepwater drilling rigs;

delays in 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;

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.

Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. For additional information regarding these and other factors that could cause our actual results to differ materially from those expressed in our forward-looking statements, see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2012 and our subsequent Quarterly Reports on Form 10-Q.

Except as required by applicable law, we do not undertake any obligation to update or revise any of our forward-looking statements, whether as a result of new information, future events or otherwise.

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