| Business Summary | | Torch
Offshore,
Inc.
(Torch)
provides
subsea
construction
services
in
connection
with
the
infield
development
of
offshore
oil
and
natural
gas
reservoirs.
Torch
is
an
established
service
provider
in
its
market
niche
of
installing
and
maintaining
small
diameter
flowlines
and
related
infrastructure
associated
with
the
development
of
offshore
oil
and
natural
gas
reserves
on
the
Shelf.
Torch
provides
integrated
pipeline
contractor
services,
including
the
simultaneous
laying
and
burying
of
flowlines,
the
laying
of
both
flexible
flowlines
and
coiled
tubing,
and
the
installation
of
umbilicals
and
subsea
power
and
communication
cables.
Torch
provides
additional
services
in
connection
with
the
infield
development
of
offshore
oil
and
natural
gas
fields,
including
inspection
and
maintenance
services,
pipeline
tie-ins
and
tie-backs,
riser
installation,
route
and
"as
built"
surveys,
pipeline
installation
engineering
and
integrated
construction
support. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Torch
Offshore
provides
subsea
construction
services
in
connection
with
the
infield
development
of
offshore
oil
and
natural
gas
reservoirs,
installing
and
maintaining
small
diameter
flowlines
and
related
infrastructure.
For
the
six
months
ended
6/30/01,
revenues
rose
63%
to
$28.8
million.
Net
loss
applicable
to
Common
before
extraordinary
item
fell
55%
to
$1.3
million.
Results
reflect
strengthening
of
the
offshore
construction
market,
partially
offset
by
a
higher
effective
tax
rate. | More
from
Market Guide: Significant
Developments |
| | | Lyle
G. Stockstill,
Chmn./CEO William
J. Blackwell,
CFO Lana
J. Hingle
Stockstill,
Sr. VP-Admin. Eric
Smith,
Exec. VP. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|