Since inheriting Avondale, Huntington Ingalls has struggled to reinvent it as a manufacturer catering to the booming oil and gas industry. In February, Huntington Ingalls announced that it was opening a new office in Houston as it worked to find a partner to capitalize on exploration in the eastern Gulf of Mexico.That oil and gas Industrial Rebirth is still happening, right? Is it?
1 comment:
A lot depends on where you look. Gulf of Mexico? Sort of flat. The production numbers of the shallow water are not there. We just removed the horsepower from one platform that was built to move offshore gas onshore because offshore gas production is down, and frankly with onshore fracking the offshore gas production just isn't necessary.
That leaves the deepwater business. Is Avondale going to be competitive with Korea and Singapore when it comes to putting together the huge deepwater rigs?
As for the oil and gas rebirth, it's taking place. It's just not in the Gulf. It's in north Louisiana and Texas and Pennsylvania and the Dakotas.
MC
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