DALLAS, July 9, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring Global Industries (GLBL). The report details Global Industries' position in the oil and gas industry, financial and investment analysis, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Global Industries Ltd. (Nasdaq:GLBL) should be of particular interest to other industry players: Hercules Offshore Inc. (Nasdaq:HERO), Superior Energy Services Inc. (NYSE:SPN), Oceaneering International Inc. (NYSE:OII) and Acergy SA (Nasdaq:ACGY).
It is available at: http://www.beaconequity.com/i/GLBL
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Global Industries Ltd. (GLBL), together with its subsidiaries, provides offshore construction, engineering, project management and support services to the oil and gas industry worldwide. The Company's business consists of two principal activities: Offshore Construction Services and Subsea Services.
In the report, the analyst notes:
"Despite the challenging industry environment, the Company remains focused on performance improvement by executing the ongoing projects, building additional backlog, implementing cost cutting initiatives, and conserving the cash reserves. The Company is in the process of expanding and updating its fleet so that it can offer superior value services while continue focusing on geographical expansion.
"As of March 31, 2009, the Company's backlog totaled approximately $394.0 million ($358.8 million for international regions and $35.2 million for the Gulf of Mexico); $372.0 million of this backlog is scheduled to be performed in 2009. In addition, the Company has been awarded with other contracts since the end of the quarter. GLBL has been contracted by Shell Offshore Inc. for the decommissioning and abandonment of an 8-pile production platform located in Eugene Island."
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