Oceaneering Provides Update Following Hurricane Michael

HOUSTON, Oct. 15, 2018 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) provided an update on the impact of Hurricane Michael on Oceaneering's personnel and manufacturing facility in Panama City, Florida.  

Roderick A. Larson, Oceaneering's President and Chief Executive Officer, stated, "In preparation for the landfall of Hurricane Michael, we activated our local emergency preparedness plan, securing the facility, equipment and products, and allowed our personnel time to seek shelter safely.  From our initial visual inspection of the site, we are pleased with how well the plant, equipment and products fared during the storm.  It appears that our equipment, inventory and products are in good condition. However, some of our buildings sustained moderate roof and siding damage.  Power has been restored to the facility, and clean-up and repair services are currently underway.  Over the coming days, we intend to conduct a further assessment of the site.  The safety and welfare of our employees remain our top priorities.

"Thank you to our employees, customers and friends who have offered their support and prayers following the passage of Hurricane Michael," concluded Mr. Larson.

Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking.  The forward-looking statements in this press release include the statements concerning Oceaneering's: initial assesment that itsequipment, inventory and products are in good condition following the landfall of Hurricane Michael, and intention to conduct a further assessment. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions, including risks and uncertainties related to a preliminary assessment of storm damage. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated.  These and other risks are more fully described in Oceaneering's latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission.

Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry.  Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.

For more information on the Company, please visit www.oceaneering.com.

Contact:
Suzanne Spera
Director, Investor Relations
Oceaneering International, Inc.
713-329-4707
investorrelations@oceaneering.com

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SOURCE Oceaneering International, Inc.