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2026-07-24 00:49 2d ago
2026-07-23 20:05 2d ago
Oceaneering zvýšila tržby i celoroční výhled EBITDA
OII Oceaneering International
FMP Stock News 92
Original source text
3 Swing Trades for Q3 Earnings SeasonOceaneering International NYSE: OII reported second-quarter 2026 results that topped the high end of its adjusted EBITDA guidance range, with management citing strong execution across its portfolio and notable gains in offshore project activity.

President and Chief Executive Officer Rod Larson said the company’s adjusted EBITDA of $115 million was its highest quarterly level since the third quarter of 2015. He said the Offshore Projects Group, or OPG, was the largest contributor to the company’s EBITDA outperformance, driven by a favorable mix of international intervention and installation work, including light well intervention services in the Caspian Sea and an installation project offshore Egypt.

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Senior Vice President and Chief Financial Officer Mike Summerall said consolidated revenue rose 10% year over year to $768 million, with growth in every segment except Integrity Management & Digital Solutions, or IMDS. Operating income increased 11% to $88.2 million, while net income attributable to Oceaneering rose 19% to $65 million, or $0.65 per share. Adjusted EBITDA increased 11% to $115 million.

Offshore Projects and Subsea Robotics Lead Results OPG revenue increased 22% from the prior-year quarter to $183 million, while operating income rose 39% to $30 million. Summerall said the segment generated a 16% operating income margin, supported by disciplined execution on international intervention and installation projects that are expected to continue into the third quarter. Vessel utilization declined year over year, but management expects it to improve in the third quarter as the company supports customers under several frame agreements.

Subsea Robotics, or SSR, also improved year over year, with revenue increasing 6% to $232 million and operating income rising 3% to $66.3 million. Average ROV revenue per day utilized increased to $11,894 from $11,265, reflecting improved contract pricing. ROV utilization was 66%, slightly below 67% in the prior-year quarter, as activity in Europe and West Africa largely offset lower activity in the U.S. Gulf.

Summerall said SSR’s EBITDA margin remained flat at 35%, as higher ROV pricing was offset by geographic and service mix, including a larger contribution from survey work, which carries lower margins than the company’s core ROV business. Larson said the Ocean Intervention II entered service after significant upgrades in 2025 and is now performing survey projects expected to keep the vessel utilized through most of the remainder of 2026. He also said the company expects to conduct a simultaneous operations, or SIMOPS, project from the vessel later this year.

Manufactured Products Improves Margins; ADTech Wins Defense Work Manufactured Products revenue increased 3% to $149 million, while operating income rose 17% to $21.9 million. The segment’s operating income margin improved to 15%, up 178 basis points year over year. Summerall attributed the improvement to conversion of higher-margin backlog, increased volume in the Rotator valves business and improved results in the Mobility Solutions product line.

The segment’s backlog declined to $445 million as of June 30, reflecting execution of previously awarded work. Summerall said the trailing 12-month book-to-bill ratio was 0.88, compared with 0.65 a year earlier. He said the company won multiple awards early in the third quarter and expects additional awards in the third and fourth quarters, supporting management’s expectation that backlog will improve in the second half and meet full-year book-to-bill guidance of 0.9 to 1.0.

In Aerospace and Defense Technologies, or ADTech, revenue increased 22% to $133 million, while operating income was up slightly to $16.4 million. Operating income margin declined to 12%, reflecting program mix and timing in the Oceaneering Technologies, or OTech, business line.

Larson highlighted new contract awards across defense and subsea applications, including subsea robotics, subsea systems, submarine rescue and submarine maintenance, construction and installation services. He pointed to a joint contract from the Defense Innovation Unit to support development of an Extra-Large Unmanned Underwater Vehicle as an example of the company’s strategy to deploy dual-use technologies for both energy and government customers. He also noted that the Space Systems team was recognized by Lockheed Martin as a best-in-class supplier for work on the Artemis program.

Cash Flow, Buybacks and Debt Refinancing Oceaneering generated $55.2 million of cash from operating activities in the quarter. Summerall said the year-over-year decrease reflected the timing of project milestones, customer receipts and vendor payments. The company invested $23.2 million in organic capital expenditures, with 34% allocated to growth and 66% to maintenance, and generated free cash flow of $32 million.

The company resumed share repurchases during the quarter, buying back $10 million of common stock. It ended the period with $629 million in cash, total liquidity of $844 million and no borrowings under its revolving credit facility.

Summerall said Oceaneering placed $500 million of senior notes due in 2034 and used the proceeds, together with cash on hand, to retire $500 million of senior notes due in 2028. The company also amended its secured revolving credit facility, increasing commitments to $345 million from $215 million and extending the maturity to July 2031. He said those transactions would be completed in July.

Asked about capital allocation, Larson said the company’s priorities remain organic investment first, inorganic growth second and returning capital to shareholders, primarily through buybacks. He said Oceaneering intends to invest around its core energy business, particularly SSR, and also sees opportunities to expand in defense, including through partnerships and potential acquisitions.

Guidance Raised at Low End, IMDS Outlook Reduced For the third quarter, Oceaneering expects revenue to increase and adjusted EBITDA to range from $115 million to $125 million. Larson said SSR revenue and operating income are expected to rise as ROV utilization improves and survey activity continues. OPG revenue and operating income are also expected to increase on higher vessel utilization in the U.S. Gulf and West Africa, as well as continuing international projects.

For the full year, management raised the low end of adjusted EBITDA guidance and now expects consolidated adjusted EBITDA of $400 million to $440 million in 2026. Larson said first-half performance increased confidence in the company’s outlook.

However, Oceaneering lowered its outlook for IMDS, citing ongoing uncertainty in the Middle East and reduced activity in West Africa. Management now expects IMDS operating income to decrease significantly compared with full-year 2025, with operating income margin in the low single-digit percentage range. Summerall said second-quarter IMDS revenue, operating income and margin declined due to lower activity, related cost absorption and increased personnel costs in West Africa and the Middle East.

Management Sees Offshore Activity Building During the question-and-answer portion of the call, Larson said offshore activity appears to be rising, though he does not expect a sharply defined inflection point. He cited longer contracts for rigs and ROVs, greater rig utilization and higher levels of contracted rigs as indicators of improving demand.

Larson said SSR should benefit from increased rig utilization and strong tree orders and installations, while OPG should benefit from longer-term confidence in offshore projects. Summerall added that longer-term rig contracts are a positive macro indicator.

Discussing regional opportunities, Larson identified Brazil as a key growth market, pointing to Petrobras activity and the company’s recently announced ROV contract in the country. He also cited Africa, including activity around Namibia and Senegal, as well as Australia and the Far East. Summerall also pointed to Norway and activity tied to Equinor as relevant to European energy security.

On defense spending, Larson said the company is seeing more inbound interest than it did three or four years ago, particularly from partners seeking Oceaneering’s offshore operating experience. Summerall said the company participates in both submarine repair and construction and autonomy-related defense work, including lower-cost uncrewed technologies.

About Oceaneering International (NYSE:OII)Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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2026-07-08 17:31 17d ago
2026-07-08 11:26 17d ago
Oceaneering získala kontrakt od Petrobras na ROV služby v Brazílii
OII Oceaneering International
FMP Stock News 78
Original source text
Key Takeaways Oceaneering won a four-year Petrobras contract to provide offshore Brazil ROV services from 2027.OII will supply two work-class ROV systems and specialized tooling for offshore subsea operations.Oceaneering's Brazil team will execute the project using local expertise and established infrastructure Oceaneering International, Inc. (OII - Free Report) has strengthened its position as a leading subsea technology and offshore services provider after the Brazilian subsidiary, Marine Production Systems do Brasil LTDA (“MPS”), secured a new contract from Petrobras (PBR - Free Report) to deliver remotelyoperated vehicle (“ROV”) services offshore Brazil. The four-year agreement represents a significant milestone in Oceaneering’s continued support of complex deepwater operations and reinforces its long-standing partnership with one of the world’s largest offshore energy companies.

The contract was awarded following a competitive tender process and is expected to begin operations in 2027. Under the agreement, Oceaneering will provide advanced subsea capabilities designed to support Petrobras’ offshore intervention, installation and abandonment activities. The project highlights the increasing importance of reliable subsea robotics, specialized tooling and operational expertise in the development and maintenance of deepwater energy infrastructure.

Advanced ROV Solutions to Support Petrobras’ Offshore ActivitiesAs part of the contract, Oceaneering will supply two work-class ROV systems along with specialized tooling packages developed to support demanding offshore tasks. These advanced robotic systems will provide critical underwater capabilities, enabling precise inspection, intervention, monitoring and positioning support in challenging subsea environments.

The ROV technology will be deployed from AKOFS Offshore’s subsea engineering support vessel Aker Wayfarer, which Petrobras has contracted to perform a range of offshore intervention, installation and abandonment support scopes. By combining a highly capable subsea vessel with Oceaneering’s robotic technologies and engineering expertise, the project will deliver an integrated solution for complex offshore operations.

Oceaneering’s local Brazilian team will execute the project, bringing extensive regional knowledge, technical expertise and operational experience to Petrobras’ offshore campaigns. The use of a locally established team also supports efficient project execution while maintaining the high safety and performance standards required for deepwater activities.

Strengthening a Long-Term Partnership With PetrobrasOceaneering has supported Petrobras’ subsea engineering campaigns for more than a decade, establishing a strong relationship built on technical reliability, innovation and operational excellence. The latest contract award further expands this collaboration and provides additional long-term visibility in Brazil’s important deepwater market.

Simao Silva, Brazil country manager at Oceaneering, highlighted the importance of the agreement, noting that the award reflects Petrobras’ continued confidence in its ability to provide advanced subsea solutions for complex offshore environments.

The partnership demonstrates the value of combining global technology capabilities with local expertise. Through years of supporting offshore projects in Brazil, Oceaneering has developed a deep understanding of regional operational requirements and the technical challenges associated with deepwater energy production.

Oceaneering’s Nearly Three Decades of Operations in BrazilOceaneering has maintained a presence in Brazil for nearly three decades, developing a comprehensive infrastructure network to support offshore energy activities. Through MPS, the company operates multiple facilities that provide specialized services, including ROV operations, survey services, subsea intervention tooling and engineered solutions.

The company’s Brazilian operations include a dedicated center for ROV, Survey, Subsea Intervention Tooling and Engineered Solutions, as well as an Onshore Remote Operations Center located in Macaé. These facilities support offshore projects through advanced engineering, remote monitoring capabilities, equipment preparation and technical services.

Oceaneering also operates an umbilical manufacturing plant in Niterói, strengthening its ability to provide integrated subsea solutions within the Brazilian market. This local infrastructure enables the company to respond efficiently to the needs of offshore operators while supporting the country’s evolving energy sector.

Delivering Technology-Driven Offshore Energy SolutionsOceaneering’s latest Petrobras contract reflects its broader mission of delivering engineered services, advanced products and robotic solutions across multiple industries. The company combines decades of subsea experience with innovative technologies to improve offshore safety, efficiency and reliability.

Work-class ROV systems play a vital role in modern offshore operations by allowing operators to perform underwater activities with precision and reduced risk. These systems support essential tasks such as subsea inspection, equipment installation, maintenance activities and intervention operations at significant depths.

Through continuous investment in technology and skilled personnel, Oceaneering continues to advance the capabilities available to offshore operators worldwide. This agreement demonstrates how sophisticated robotics, engineering expertise and local operational knowledge can work together to support increasingly complex offshore projects.

Strong Future for Subsea Services in BrazilBrazil remains one of the world’s most important deepwater energy markets, with significant offshore resources and a growing demand for advanced subsea technologies. Oceaneering’s expanded collaboration with Petrobras positions it to continue contributing to major offshore developments while supporting safe and efficient operations.

The new four-year contract reinforces Oceaneering’s reputation as a trusted subsea services provider and highlights the company’s ability to deliver specialized solutions for challenging marine environments. With experienced teams, established facilities and advanced robotic technologies, Oceaneering is prepared to support the next generation of offshore operations in Brazil.

Through this agreement, Oceaneering and Petrobras continue a partnership focused on innovation, reliability and operational excellence, helping drive the future of deepwater subsea engineering and offshore energy development.

OII's Zacks Rank & Key PicksCurrently, OII and PBR have a Zacks Rank #3 (Hold) each.

Investors interested in the energy sector might look at some better-ranked stocks like Paramount Resources (PRMRF - Free Report) and Cenovus Energy (CVE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Paramount Resources is valued at $2.83 billion. It is a Canadian energy company focused on the exploration, development and production of natural gas, crude oil and natural gas liquids. Paramount Resources stock has delivered 28.9% total return over the past year.

Cenovus Energy is valued at $45.32 billion. It is a Canadian integrated energy company engaged in the production of crude oil and natural gas, as well as refining, upgrading and marketing petroleum products, operating across Canada, the United States and the Asia-Pacific region. Cenovus Energy stock has delivered a 72.6% total return over the past year.
2026-07-06 22:22 19d ago
2026-07-06 17:05 19d ago
Oceaneering zvýšila revolvingový úvěr na 345 milionů USD
OII Oceaneering International
FMP Stock News 78
Original source text
HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced today that it has entered into an amendment to its senior secured revolving credit facility (“Credit Facility”) to, among other things, increase the commitments from $215 million to $345 million and extend the maturity date from April 2027 to July 2031. The Credit Facility includes the ability to upsize by an additional $85 million and letter of credit availability of $150 million.

Mike Sumruld, Oceaneering’s Senior Vice President and Chief Financial Officer, stated, "We are pleased to announce this amendment to our revolving credit facility, which provides additional financial flexibility to support our ongoing operations, strategic priorities, and growth initiatives. We appreciate the continued support of our bank group, which includes both long-standing relationship banks and new participating lenders."

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

For more information, please visit www.oceaneering.com.

More News From Oceaneering International, Inc.
2026-06-30 22:41 25d ago
2026-06-30 17:01 25d ago
Oceaneering oznámila cenu odkupu senior notes splatných v roce 2028
OII Oceaneering International
FMP Stock News 78
Original source text
HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced today the pricing terms of the previously announced cash tender offer (the “Offer”) to purchase any and all of its outstanding 6.000% Senior Notes due 2028 (the “Notes”) for the consideration described below. The Offer was announced on June 24, 2026 and was made pursuant to the Offer to Purchase dated June 24, 2026 (the “Offer to Purchase”) and the related Notice of Guaranteed Delivery.

Title of Security

CUSIP Numbers(2)

Aggregate Principal Amount
Outstanding

U.S. Treasury Reference Security

Reference Yield

Bloomberg Reference Page

Fixed Spread (basis points)

Purchase Price per $1,000 Aggregate Principal Amount of Notes

6.000% Senior Notes due 2028(1)

675232 AB8

675232 AD4

$500,000,000

3.50% UST due October 31, 2027

4.146%

FIT4

40

$1,018.46

The purchase price for each $1,000 principal amount of Notes validly tendered (the "Purchase Price"), and not validly withdrawn, and accepted for purchase pursuant to the Offer was determined in the manner described in the Offer to Purchase by reference to the fixed spread specified above, plus the yield to maturity based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT4 series of pages at 2:00 p.m., New York City time, on June 30, 2026, the date on which the Offer is currently scheduled to expire. The Purchase Price was based on a yield to November 1, 2027, assuming the Notes are redeemed on November 1, 2027, at the specified redemption price for such date of 100.000% of the principal amount, as described in the Offer to Purchase.

The Offer will expire at 5:00 p.m., New York City time, on June 30, 2026, unless extended or earlier terminated (the “Expiration Time”). Holders who have validly tendered their Notes may withdraw such Notes at any time (i) at or prior to the earlier of (x) the Expiration Time and (y) in the event the Offer is extended, the tenth business day after the date hereof, and (ii) after the 60th business day after the date hereof if for any reason the Offer has not been consummated within 60 business days of the date hereof. The delivery of Notes tendered by guaranteed delivery procedures must be made no later than 5:00 p.m., New York City time, on July 2, 2026. Oceaneering expects to pay the consideration for Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and accepted for purchase by it or tendered and delivered through the guaranteed delivery procedures on July 6, 2026, the third business day following the Expiration Time (the “Settlement Date”). The Offer is conditioned upon the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase. The Offer is not conditioned upon any minimum amount of Notes being tendered. Oceaneering intends to pay for the Notes purchased in the Offer with the proceeds from its contemporaneous offering of senior notes.

The complete terms and conditions of the Offer are set forth in the Offer to Purchase and in the related Notice of Guaranteed Delivery, along with any amendments and supplements thereto, which holders are urged to read carefully before making any decision with respect to the Offer. Oceaneering has retained J.P. Morgan Securities LLC as dealer manager (the “Dealer Manager”) in connection with the Offer. Copies of the Offer to Purchase and the related Notice of Guaranteed Delivery may be obtained from Global Bondholder Services Corporation, the Depositary and Information Agent for the Offer, by phone at (212) 430-3774 (banks and brokers) or (855) 654-2014 (toll-free), by email at [email protected], or online at https://gbsc-usa.com/oii/. Questions regarding the Offer may also be directed to the Dealer Manager at +1 (866) 834-4666 (toll free) or +1 (212) 834-4818 (collect).

The Offer may be amended, extended, terminated, or withdrawn in Oceaneering’s sole discretion. There is no assurance that the Offer will be subscribed for in any amount. To the extent not all of the Notes are tendered in the Offer, Oceaneering intends to redeem any and all outstanding Notes. In connection with the Offer, Oceaneering issued a conditional notice of full redemption to redeem any Notes that remain outstanding following the Offer on or around July 25, 2026 pursuant to the indenture governing the Notes. This press release does not constitute a notice of redemption or an offer to purchase the Notes not purchased in the Offer.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Offer is being made only by, and pursuant to the terms of, the Offer to Purchase and the related Notice of Guaranteed Delivery. The Offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction. In any jurisdiction where the laws require the Offer to be made on Oceaneering’s behalf by a licensed broker or dealer and the Dealer Manager or one of the Dealer Manager’s affiliates is such a licensed broker or dealer in any such jurisdiction, the Offer will be deemed to be made by the Dealer Manager or affiliate, as the case may be, on behalf of Oceaneering. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities or other financial instrument that constitute financing for the Offer.

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning the expected timing for expiration and settlement of the Offer and the closing of Oceaneering’s offering of the senior notes, the conditions to the Offer, and other matters relating to the Offer and the subsequent redemption of the Notes. The forward-looking statements included in this release are based on Oceaneering’s current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

More News From Oceaneering International, Inc.
2026-06-24 15:26 1mo ago
2026-06-24 07:38 1mo ago
Oceaneering vydá seniorní dluhopisy za 500 milionů USD
OII Oceaneering International
FMP Stock News 78
Original source text
HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) announced today that it intends to offer $500,000,000 aggregate principal amount of Senior Notes due 2034 (the “2034 Notes”) in a private placement to eligible purchasers.

Oceaneering intends to use the net proceeds from the proposed offering, together with cash on hand, if necessary, to fund the purchase of any and all of its 6.000% Senior Notes due 2028 (the “Tender Notes”) validly tendered and accepted for purchase in the concurrent cash tender offer announced today (the “Tender Offer”). If the Tender Offer is not consummated or the net proceeds from the offering exceed the total consideration payable in the Tender Offer, Oceaneering intends to use the remaining net proceeds from the offering for general corporate purposes, which may include the repayment, redemption, or repurchase of outstanding indebtedness.

The 2034 Notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The offer and sale of the 2034 Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offers of the 2034 Notes will be made in the United States only by means of a private offering memorandum pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

This press release does not constitute an offer to purchase or a solicitation of an offer to sell any of the Tender Notes. The Tender Offer is being made only by and pursuant to, and on the terms and conditions set forth in, the Offer to Purchase dated June 24, 2026.

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning Oceaneering’s proposed offering of the 2034 Notes, the intended use of proceeds therefrom, and other matters relating to the proposed offering and the Tender Offer. The forward-looking statements included in this release are based on Oceaneering's current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

More News From Oceaneering International, Inc.
2026-06-24 15:26 1mo ago
2026-06-24 07:39 1mo ago
Oceaneering zahajuje hotovostní nabídku na odkup dluhopisů za 500 milionů USD
OII Oceaneering International
FMP Stock News 78
Original source text
HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 6.000% Senior Notes due 2028 (the “Notes”) for the consideration described below.

Title of Security

CUSIP Numbers(2)

Aggregate Principal Amount
Outstanding

U.S. Treasury Reference Security

Bloomberg Reference Page

Fixed Spread (basis points)

6.000% Senior Notes due 2028(1)

675232 AB8

675232 AD4

$500,000,000

3.50% UST due October 31, 2027

FIT4

40

The purchase price for each $1,000 principal amount of Notes validly tendered (the "Purchase Price"), and not validly withdrawn, and accepted for purchase pursuant to the tender offer will be determined in the manner described in the Offer to Purchase dated June 24, 2026 (the "Offer to Purchase”). This determination will be made by reference to the fixed spread specified above, plus the yield to maturity based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT4 series of pages at 2:00 p.m., New York City time, on June 30, 2026, the date on which the tender offer is currently scheduled to expire. The Purchase Price will be calculated based on a yield to October 31, 2027, and assuming the Notes are redeemed on October 31, 2027, at the specified redemption price for such date of 100.000% of the principal amount, as described in the Offer to Purchase.

The tender offer will expire at 5:00 p.m., New York City time, on June 30, 2026, unless extended or earlier terminated (the “Expiration Time”). Holders who have validly tendered their Notes may withdraw such Notes at any time (i) at or prior to the earlier of (x) the Expiration Time and (y) in the event the tender offer is extended, the tenth business day after the date hereof, and (ii) after the 60th business day after the date hereof if for any reason the tender offer has not been consummated within 60 business days of the date hereof. The delivery of Notes tendered by guaranteed delivery procedures must be made no later than 5:00 p.m., New York City time, on July 2, 2026. Oceaneering expects to pay the consideration for Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and accepted for purchase by it or tendered and delivered through the guaranteed delivery procedures on July 6, 2026, the third business day following the Expiration Time (the “Settlement Date”). The tender offer is conditioned upon the satisfaction or waiver of certain conditions, including Oceaneering’s completion of one or more debt financing transactions on terms satisfactory to it. The tender offer is not conditioned upon any minimum amount of Notes being tendered.

The complete terms and conditions of the tender offer are set forth in the Offer to Purchase and in the related Notice of Guaranteed Delivery, along with any amendments and supplements thereto, which holders are urged to read carefully before making any decision with respect to the tender offer. Oceaneering has retained J.P. Morgan Securities LLC as dealer manager (the “Dealer Manager”) in connection with the tender offer. Copies of the Offer to Purchase and the related Notice of Guaranteed Delivery may be obtained from Global Bondholder Services Corporation, the Depositary and Information Agent for the tender offer, by phone at (212) 430-3774 (banks and brokers) or (855) 654-2014 (toll-free), by email at [email protected] or online at https://gbsc-usa.com/oii/. Questions regarding the tender offer may also be directed to the Dealer Manager at +1 (866) 834-4666 (toll free) or +1 (212) 834-4818 (collect).

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offer is being made only by, and pursuant to the terms of, the Offer to Purchase and the related Notice of Guaranteed Delivery. The tender offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction. In any jurisdiction where the laws require the tender offer to be made on Oceaneering’s behalf by a licensed broker or dealer and the Dealer Manager or one of the Dealer Manager’s affiliates is such a licensed broker or dealer in any such jurisdiction, the tender offer will be deemed to be made by the Dealer Manager or affiliate, as the case may be, on behalf of Oceaneering. None of Oceaneering, the Depositary and Information Agent, or the Dealer Manager, or any of their affiliates, makes any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Notes in response to the tender offer. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities or other financial instrument that constitute financing for the tender offer.

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning the expected timing for expiration and settlement of the tender offer, the conditions to the tender offer, and other matters relating to the tender offer and any debt financing transactions. The forward-looking statements included in this release are based on Oceaneering's current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

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