Profile: Gulf Island Fabrication Inc (GIFI.OQ)

GIFI.OQ on NASDAQ Stock Exchange Global Select Market

14.45USD
5 Mar 2015
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Gulf Island Fabrication, Inc. (Gulf Island), incorporated on April 27, 1989, is a fabricator of offshore drilling and production platforms, hull and deck sections of floating production platforms and other structures. The Company is engaged in fabrication of offshore drilling and production platforms, such as jackets and deck sections of fixed production platforms, hull, tendon, and deck sections of floating production platforms, piles, wellhead protectors, subsea templates, various production, compressor, and utility modules.

Gulf Island serves as a holding company and conducts all its operations through its subsidiaries, which include: Gulf Island, L.L.C., Gulf Marine, Gulf Island Marine Fabricators, L.L.C., Dolphin Services, L.L.C., Dolphin Steel Sales, L.L.C. and Gulf Island Resources, L.L.C. Gulf Island, L.L.C. and Gulf Marine perform fabrication of offshore drilling and production platforms and other structures used in the development and production of oil and gas reserves. Gulf Island Marine Fabricators, L.L.C. performs marine fabrication and construction services. Dolphin Services, L.L.C. performs offshore and onshore fabrication and construction services. Dolphin Steel Sales, L.L.C. sells steel plate and other steel products. Gulf Island Resources, L.L.C, hires laborers with similar rates and terms as those provided by contract labor service companies.

Gulf Island also produce and repair pressure vessels used in the oil and gas industry, refurbish existing platforms, fabricate various other steel structures, provide onshore and offshore scaffolding and piping insulation services, perform heavy lifts such as ship integration and tension-leg platform (TLP) module integration and load and offload jack-up drilling rigs and semi-submersible drilling. The Company fabricates towboats, barges, lift boats, dry docks, mid-body sections for offshore supply vessels and multiple processing modules installed in petro-chemical plants.

The fixed platform consists of a jacket which supports the deck structure located above the level of storm waves and is secured with tubular pilings driven deep into the seabed. The deck structure is designed to accommodate multiple functions, including drilling, production, separating, gathering, piping, compression, well support, and crew quartering. Jackets are built on skidways and are built in sections. Decks are built either as single structures or in sections and are installed on location on fixed and floating platforms by construction contractors. Deck equipment includes crude oil pumps, oil and gas separators and gas compressors.

Gulf Island’s east fabrication yard is located on the east bank of the Houma Navigation Canal in Houma, Louisiana. This facility is situated on approximately 140 acres, of which 100 acres are developed for fabrication, and includes several buildings totaling 49,000 square feet of administrative offices, 267,000 square feet of covered fabrication area, over 47,000 square feet of warehouse storage area and 8,000 square feet of training and medical facilities.

The Company competes with State Services Co., Inc. and Kiewit Offshore Services.

Company Address

Gulf Island Fabrication Inc

583 THOMPSON RD
HOUMA   LA   70363-7326
P: +1504.8722100
F: +1985.8765414

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