Deep Down Secures Large Carousel Orders

- Deep Down Secures Large Carousel Order

Thursday, July 07, 2011
Deep Down Inc.

Deep Down has just completed the assembly and test running of its own 3,200 MT carousel located at Core Industries near Mobile, Alabama and has recently been awarded two more large carousel contracts in excess of $8 million. Deep Down is presently under full construction of a 3,000 MT onshore carousel system with a delivery date at the end of the third quarter 2011 for one of the world’s leading umbilical manufacturers.

The 2nd carousel awarded, a 3,500 MT offshore system will be DNV certified and will be completed in the first quarter of 2012 for an international installation contractor. As an extra bonus, Deep Down has just undergone and passed several audits by our clients and safety organizations supporting the safety, and quality of our company and the upcoming construction of the carousels. Both carousels will be manufactured in Channelview, Texas, then placed on a barge and assembled for our clients in Mobile, Alabama.

Ronald E. Smith, Chief Executive Officer stated, "We have always had innovative approaches to handling terminations, transporting and putting umbilicals into the water. This award winning carousel system, as described in the Deep Down news release on May 18, 2011 is exciting and its compact nature allows our clients to place a large amount of product on an optimum foot print which opens the doors for both onshore and offshore applications. We believe these orders will have a significant impact on the Company’s future growth. We have several more systems quoted where the delivery schedules are ideal."

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Two Large Directional Drilling Sites Proposed in Greeley

- Two Large Directional Drilling Sites Proposed in Greeley

Tuesday, May 24, 2011
Greely Tribune, Colorado
by Sharon Dunn, Greeley Tribune, Colo.

Two new oil and gas well projects that would involve dozens of new wells are being proposed within Greeley's city limits now that directional drilling methods have basically been proven and commodity prices are cooperating.

These drilling projects come in a much larger scale than typical vertical drilling, with several wells proposed from one site.

"This is the changing face of the oil and gas industry, with more directional drilling," said Brandon Gossard, a planner with the city of Greeley. "We seem to be getting more applications for directional than otherwise.

"Only recently has that technology been reliable and cost effective to the point where a lot of bigger players have started to use the directional drilling platforms more and more often," Gossard said.

Greeley residents may remember letters from Mineral Resources they got earlier in the year, seeking permission to drill beneath their properties. Some of those letters relate to two projects under consideration this week:

• The Bestway Gravel Pit site off of 4th Street and 35th Avenue, where the company has proposed drilling 40 wells. Residents will get to sound off on the project at a neighborhood meeting Wednesday.
• The Island Grove site off of 11th Avenue across from Island Grove Regional Park, where the company has proposed drilling 22 wells. The Greeley Planning Commission is considering this project Tuesday. Neither project would need Greeley City Council approval, but ultimate planning commission decisions could be appealed to the council within 10 days of a decision.

Copyright (c) 2011, Greeley Tribune, Colo.

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