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McDermott International Inc (MDR.N)

MDR.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

McDermott Awarded EPCC Contract For Tyra Redevelopment Project By Maersk Oil
Friday, 22 Dec 2017 

Dec 22 (Reuters) - McDermott International Inc ::MCDERMOTT AWARDED EPCC CONTRACT FOR TYRA REDEVELOPMENT PROJECT BY MAERSK OIL.MCDERMOTT INTERNATIONAL - WORK ON CONTRACT IS EXPECTED TO BEGIN EARLY NEXT YEAR & LUMP SUM CONTRACT WILL BE REFLECTED IN CO'S Q4 2017 BACKLOG.MCDERMOTT INTERNATIONAL INC - SCHEDULED TO COMPLETE WORK PACKAGES FOR SAIL-AWAY BY FEB 1, 2020 & FEB 1, 2021.MCDERMOTT INTERNATIONAL- CO TO PROVIDE ENGINEERING, PROCUREMENT, CONSTRUCTION FOR 2 SEPARATE WORK PACKAGES FOR MAERSK OIL IN REDEVELOPMENT PROJECT.  Full Article

Mcdermott International Says In Case Of Termination Of Deal With Cb&I Under Certain Specified Circumstances, Co To Pay Cb&I Termination Fee Of $60 Mln
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Chicago Bridge & Iron Company Nv ::MCDERMOTT INTERNATIONAL- IN CASE OF TERMINATION OF DEAL WITH CB&I UNDER CERTAIN SPECIFIED CIRCUMSTANCES, CO TO PAY CB&I TERMINATION FEE OF $60 MILLION.  Full Article

Mcdermott And CB&I To Combine In Transaction Valued At $6 BLN
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Mcdermott International Inc ::MCDERMOTT AND CB&I TO COMBINE IN TRANSACTION VALUED AT $6 BILLION.MCDERMOTT INTERNATIONAL INC - MCDERMOTT SHAREHOLDERS TO OWN 53% AND CB&I SHAREHOLDERS TO OWN 47% OF COMBINED COMPANY.MCDERMOTT INTERNATIONAL - COMBINED CO TO HAVE COMBINED REVENUES OF APPROXIMATELY $10 BILLION AND BACKLOG OF APPROXIMATELY $14.5 BILLION.MCDERMOTT INTERNATIONAL - CB&I SHAREHOLDERS TO BE ENTITLED TO RECEIVE 2.47221 SHARES OF CO STOCK FOR EACH SHARE OF CB&I COMMON STOCK OWNED.MCDERMOTT INTERNATIONAL - DEAL IS EXPECTED TO BE CASH ACCRETIVE, EXCLUDING ONE-TIME COSTS, WITHIN FIRST YEAR AFTER CLOSING.MCDERMOTT INTERNATIONAL INC - DEAL ALSO EXPECTED TO GENERATE ANNUALIZED COST SYNERGIES OF $250 MILLION IN 2019.MCDERMOTT INTERNATIONAL INC - ANNUALIZED COST SYNERGIES OF $250 MILLION EXPECTED IN 2019 FROM DEAL.MCDERMOTT INTERNATIONAL - DAVID DICKSON, CURRENT PRESIDENT AND CEO OF MCDERMOTT, WILL BE PRESIDENT AND CEO OF COMBINED CO.MCDERMOTT INTERNATIONAL - STUART SPENCE, CURRENT CFO OF MCDERMOTT, WILL BE CHIEF FINANCIAL OFFICER OF COMBINED COMPANY.MCDERMOTT INTERNATIONAL INC - BOARD OF DIRECTORS OF COMBINED CO WILL BE COMPRISED OF 11 MEMBERS, INCLUDING 10 INDEPENDENT DIRECTORS AND DAVID DICKSON.MCDERMOTT INTERNATIONAL INC - COMBINED CO HAS SECURED ABOUT $6 BILLION OF FULLY-COMMITTED FINANCING, LED BY BARCLAYS, CREDIT AGRICOLE CIB & GOLDMAN SACHS.MCDERMOTT INTERNATIONAL INC - TRANSACTION HAS BEEN APPROVED BY BOARDS OF BOTH COMPANIES.  Full Article

McDermott awarded major EPCI contract in Middle East
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - McDermott International Inc :McDermott awarded major EPCI contract in Middle East.McDermott International Inc - ‍work on contract is expected to begin immediately and will be reflected in McDermott's Q4 2017 backlog​.  Full Article

Mcdermott reports Q3 gaap earnings per share $0.33
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - McDermott International Inc :McDermott reports third quarter 2017 financial and operational results.Q3 gaap earnings per share $0.33.Q3 revenue $958.5 million versus I/B/E/S view $985.1 million.Q3 earnings per share view $0.20 -- Thomson Reuters I/B/E/S.McDermott International Inc - ‍as of September 30, 2017, company's backlog was $2.4 billion, compared to $3.3 billion at June 30, 2017​.McDermott International Inc - sees FY revenues about $3 billion‍​.McDermott International Inc - sees FY diluted income per share about $0.53‍​.FY2017 revenue view $3.16 billion -- Thomson Reuters I/B/E/S.McDermott International Inc sees ‍FY capex about $120​ million.  Full Article

McDermott receives letter of award for KG-D6 subsea installation contract from Reliance Industries
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Mcdermott International Inc :Mcdermott-Letter of award for contract from reliance industries for KG-D6 subsea field development in Krishna Godavari Basin, off east coast of India​.Mcdermott International Inc - ‍ contract award is expected to be reflected in Mcdermott's Q4 2017 backlog​.Mcdermott International Inc - ‍contract is scheduled for completion by Q2 of 2020 for base scope, and Q1 of 2021 for optional scope​.  Full Article

Mcdermott International says Q2 GAAP earnings per share $0.07
Tuesday, 26 Jul 2016 

Mcdermott International Inc : As of june 30, 2016, company's backlog was $4.4 billion, compared to $3.8 billion at march 31, 2016 . Restructuring costs are now expected to be approximately $12 million for full-year 2016 . Says company's potential revenue pipeline, including backlog, was $21.1 billion as of june 30, 2016 . Sees 2016 adjusted earnings per share $0.12 . Sees 2016 capital expenditures $250 million . Sees 2016 loss per share about $0.03 . Mcdermott reports second quarter 2016 financial and operational results . Q2 gaap earnings per share $0.07 . Q2 revenue $706.6 million versus i/b/e/s view $753.4 million . Q2 earnings per share view $0.02 -- Thomson Reuters I/B/E/S . Q2 adjusted earnings per share $0.08 excluding items . Says at june 30, 2016, company had bids outstanding and target projects of approximately $16.7 billion in its pipeline . Sees 2016 revenues about $2.7 billion .Fy2016 earnings per share view $0.06, revenue view $2.71 billion -- Thomson Reuters I/B/E/S.  Full Article

Mcdermott International and Nakilat-Keppel Offshore Marine enter exclusive cooperation agreement
Tuesday, 26 Jul 2016 

Mcdermott International Inc : Says five-year agreement aims to increase local content for projects in Qatar . Says N-Kom serves as subcontractor and performs fabrication . Mcdermott and Nakilat-Keppel Offshore Marine enter exclusive cooperation agreement in Qatar .Will serve as prime contractor to customers, lead engineering with teams based in Dubai and global engineering center in Chennai, India.  Full Article

Mcdermott International awarded $454 mln contract from PEMEX Exploracion Y Produccion for engineering
Monday, 27 Jun 2016 

Mcdermott International Inc : Says has been awarded a $454 million USD contract from PEMEX Exploracion y Produccion for engineering .Says contract award will be reflected in McDermott's Q2 2016 backlog.  Full Article

Mcdermott announces completion of amendment to extend senior secured credit agreement
Monday, 16 May 2016 

Mcdermott International Inc : Has satisfied all conditions to amendment to company's senior secured credit agreement . Amendment extends maturity date of letter of credit facility under senior secured credit agreement to April 22, 2019 . Amendment provides $450 million of letter of credit capacity with potential to increase to $600 million under an accordion feature .Mcdermott announces completion of amendment to extend senior secured credit agreement.  Full Article