McDermott International Awarded Contract for Zama Field Development Project

McDermott International, Inc. (MDR) announced on November 15 that the company was awarded a contract from Talos Energy, Inc. for concept and engineering services. McDermott will execute the contract in a joint venture with Baker Hughes (BHGE) and will manage all phases of the engineering services process for the Zama field development project. This is the first offshore Mexico block awarded to a private operator.

 

Sonal received the news and issued an alert at 7:00 am. The next trade took place for $7.89 at the market open. McDermott International continued to move higher throughout the day before closing at $8.64 for an event day gain of 9.5%.

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