Deep Down Receives $3 Million in Orders

Deep Down Inc. (OTCQX: DPDW) announced that it has received multiple orders for flying leads and offshore installation equipment. The company specializes in complex deepwater and ultra-deepwater oil production distribution system support services.

As quoted in the press release

The flying leads will be deployed in West Africa, South East Asia and the Gulf of Mexico, while the installation equipment is for use in both the Gulf of Mexico and West Africa. All of the products are for expansion phases of projects in which the Company has had previous involvement.

Ronald E. Smith, Chief Executive Officer, stated,

We are delighted with these orders, which further reaffirm our customers’ increasing preference for our products. With the $3 million in orders, our backlog has increased to over $30 million, the highest level in the company’s history.

Click here to read the Deep Down Inc. (OTCQX: DPDW) press release.