Trico Shares Soar On $100M Contract News

Stock quotes in this article: TRMA  

THE WOODLANDS, Texas (AP) — Shares of Trico Marine Services Inc. soared Monday after the company said it won more than $100 million in subsea contracts.

The company, which provides marine support vessels to the oil and gas industry, said the figure includes new contracts and extensions of existing contracts with its units, DeepOcean and CTC Marine.

Trico stock rose 75 cents, or 22 percent, to $4.11 in afternoon trading.

CTC Marine accounted for the bulk of the new work, including installation and construction support for the China Offshore Oilfield Engineering Co, Trico said.

A Trico spokesman was not immediately available for further details.

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