Deep Down lands $2.5 million flying lead order
HOUSTON -- Deep Down, Inc., an oil field services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, has received a large order for patented flying leads and unique UTA (Umbilical Termination Assembly), valued at approximately $2.5 million, directly from an independent operator.
The flying leads and UTA will be delivered and deployed in the Gulf of Mexico in the first quarter of 2016.
"Despite the current environment of lower oil prices, this order from a new customer reinforces our strategy and ability to work directly for operators," Ron Smith, CEO of Deep Down said.
