ROVworld Subsea Information

Deep Down opens new Houston corporate headquarters
Date: Tuesday, March 24, 2009 @ 16:01:56 EDT

Deep Down opens new Houston corporate headquartersOilfield service company Deep Down, Inc. today announced it has opened new corporate headquarters in Northwest Houston, at 8827 W. Sam Houston Parkway, N., Suite 100, Houston, Texas 77040.

"In just two short years, Deep Down's workforce has grown from less than 50 to more than 165 employees, we have successfully completed three acquisitions, the most recent being our Maine buoyancy facility, and we have more than quadrupled our annual revenues since then," commented Ronald E. Smith, Deep Down's president and chief executive officer. "The new corporate headquarters will allow us to more effectively manage our current operations as well as future acquisitions.

The new location will provide needed space for Deep Down's corporate operations, including its chief executive officer, chief financial officer, chief acquisition officer, operations, business development, investor relations, and their support staff. Deep Down also operates service and fabrication facilities in Channelview, Texas, Morgan City, Louisiana, and Biddeford, Maine.

"In spite of the oil and gas industry's current volatility, the offshore deepwater services subsector continues to increase. Deep Down remains committed to its strategy of providing the expertise and subsea technologies required to help customers meet today's offshore oil production challenges. Moreover, both the recent expansion of our Channelview, Texas, service and fabrication facility, and the expansion currently underway at our Biddeford, Maine, buoyancy facility, were calculated to allow us to take full advantage of the increasing need for service and technological solutions developing deepwater oilfields," Smith concluded.

This article comes from ROVworld Subsea Information

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