Offshore Support Businesses Feel Moratorium Pinch
According to a June 19 report from the Houston Chronicle, hundreds of Houston companies that provide specialized equipment and services to the offshore oil and gas industry are worrying about the prospect of the new deep-water drilling ban going forward as planned. Those include not just the giants like Halliburton, Schlumberger (SLB) and National Oilwell Varco (NOV), but also a vast number of small and lesser-known shops. Alexander/Ryan Marine & Safety Co. in east Houston, reported to the Houston Chronicle that it derives 60% of its $35m in annual revenue from the Gulf. It supplies lifeboats, firefighting systems and other safety equipment for offshore drilling rigs and production platforms.
(Source: Houston Chronicle)