OII News & Events

Oceaneering International announced the pricing of its previously announced offering of $500,000,000 aggregate principal amount of 6.875% Senior Notes due 2034 in a private placement to eligible purchasers at par, plus accrued interest, if any, from July 6. The 2034 Notes will mature on July 15, 2034. The offering is expected to close on July 6, subject to customary closing conditions. Oceaneering intends to use the net proceeds from the offering, together with cash on hand, if necessary, to fund the purchase of any and all of its 6.000% Senior Notes due 2028 validly tendered and accepted for purchase in the previously announced concurrent cash tender offer. If the Tender Offer is not consummated or the net proceeds from the offering exceed the total consideration payable in the Tender Offer, Oceaneering intends to use the remaining net proceeds from the offering for general corporate purposes.

Oceaneering's Offshore Projects Group has been awarded an integrated offshore installation contract at the West Delta Deep Marine gas field development project offshore Egypt from Burullus Gas Company. The contract is expected to generate meaningful revenue in 2026. Under the scope of work, Oceaneering will provide an integrated solution to support the transportation, offshore installation, and commissioning of a refurbished subsea umbilical and a 2,000-meter replacement thermoplastic composite pipe flowline. Work to refurbish the umbilical was carried out at Oceaneering's umbilical manufacturing facility in Rosyth, UK.