Mcdermott

U.S. natural gas export projects underway on the Gulf Coast and other plans in the works are to “continue seamlessly” after McDermott International Inc. launched a prepackaged Chapter 11 restructuring on Tuesday.

U.S. natural gas export projects underway on the Gulf Coast and other plans in the works are to “continue seamlessly” after McDermott International Inc. launched a prepackaged Chapter 11 restructuring on Tuesday.

A record backlog of contract awards bodes well for McDermott International Inc. going forward, but the Houston-based operator faced substantial headwinds during the second quarter from delays at two major Gulf Coast natural gas export facilities, as well as issues with Mexico’s state-owned producer.

The first train at Cameron LNG is on track to produce liquefied natural gas (LNG) by the end of June and is progressing toward full operation by next year, according to Houston-based engineering and construction giant McDermott International Inc.

U.S. natural gas is about to enter a cycle of structural oversupply and demand stagnation, which in turn should reduce prices, according to Morgan Stanley.

Houston engineering and construction giant McDermott International Inc. announced preliminary plans as it prepares to complete a merger with crosstown CB&I on Monday only days after Subsea 7 SA launched a hostile takeover bid, but only for McDermott.

Energy engineering giants McDermott International Inc. and Chicago Bridge & Iron Co. NV (CB&I), which agreed to merge last December, announced steps Tuesday to integrate operations and set the leadership structure once the combination is completed as expected by mid-year.

McDermott International Inc. and CB&I agreed Monday to combine in an all-stock transaction worth an estimated $6 billion, a move that would narrow the energy engineering and construction competition.