Oceaneering International, Inc. announced today the sale of the Ocean Legend, a mobile offshore production system, to an undisclosed buyer. Oceaneering’s third quarter 2011 earnings will include an estimated pretax gain in the range of $17 million to $19 million on the sale of this asset in its Subsea Projects segment operating results.
Oceaneering’s 2011 EPS guidance previously given did not include the anticipated results of this transaction.
Oceaneering is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
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Source: Oceaneering ,September 12, 2011.