HOUSTON, March 12, 2019 (GLOBE NEWSWIRE) -- Deep Down, Inc. (OTCQX: DPDW), a specialist in deep water oil and gas production and distribution equipment and
services, announced today that it has secured $4.4 million in orders for flying leads and associated equipment, and offshore
installation services for the Gulf of Mexico. The orders include over $1 million in offshore services for a new international
customer. Deep Down expects to complete all of the work during the first half of 2019.
Deep Down CEO Ron Smith, stated, "Though we experienced some delays in customer activity in the latter part of
2018, we are seeing encouraging signs of industry activity so far in 2019. We are gratified that Deep Down’s deep-water expertise,
service capabilities and our product innovation and quality, continue to be recognized by leading operators around the globe. We
are hard at work on a range of additional procurement opportunities for both new and existing customers, and are cautiously
optimistic in our business outlook for the balance of 2019."
About Deep Down, Inc. (www.deepdowninc.com)
Deep Down focuses on complex deepwater and ultra-deepwater oil and gas production distribution system technologies and support
services, connecting the platform and the wellhead. Deep Down's proven services and technological solutions include distribution
system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, installation buoyancy,
remotely operated vehicles and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea
engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and
engineered technological solutions.
Forward-Looking Statements Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking
statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity
to general economic and industrial conditions, international political and economic risks, availability and price of raw materials
and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange
Commission, copies of which are available from the Company without charge.
Investor Relations:
Catalyst IR
Chris Eddy or Tanya Kamatu
212-924-9800
dpdw@catalyst-ir.com
Follow us on: Twitter: @DeepDownIR
