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| Volume 3, issue #27 - 10-12-1998 | |
13-10-1998 TransCoastal Marine Services Inc. has been awarded four new pipeline and fabrication contracts to be performed by year-end. In addition to these assignments, which have a combined value exceeding $ 8 mm, the company has received letters of intent to perform work worth more than $ 5.5 mm on other projects.
"We're pleased with our progress in booking new work for the fourth quarter of 1998," said Bill E. Stallworth, chairman and chief executive of TransCoastal. "We continue to see attractive US and international opportunities that would result in additional revenue for our fabrication and our pipeline and offshore divisions during this quarter and in the first half of 1999."
The latest contracts awarded to TransCoastal all will be performed in the US Gulf Coast region. They call for:
--Fabricating 7 deck barges for Mallard Bay Drilling, a long-time customer of The Red Fox Companies, a wholly-owned subsidiary of TransCoastal. Work on that project began in August, with delivery of the
final barge set for mid-December.
-- Laying 16 miles of 24-inch-diameter oil pipeline for a major petrochemical pipeline company.
-- Laying 7 miles of 16-inch-diameter gas pipeline for a major gas transmission company.
-- Installing a pump station for a major oil company.
TransCoastal Marine Services Inc., headquartered in Houston, is a marine construction company. Its Pipeline and Offshore Services division performs pipeline installation and repair, primarily in transition zone and shallow-water regions world-wide.
The Fabrication Services division fabricates, refurbishes and installs offshore drilling rigs, barge drilling rigs, production platforms and related facilities.
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