- New office adds space for up to 300 staff and expands McDermott's engineering capacity and Saudi operations
- McDermott to significantly increase in-Kingdom contribution in support of Saudi Arabia's Vision 2030
Holding an above-average cash position after peeling profits off the table into the most recent rally.
Crude oil set a new 2016 high in October, as Diamond Offshore, Noble, Transocean and Tidewater continued to trade lower.
After Tuesday's closing bell, McDermott (MDR) posted earnings for the 2016 third quarter while analysts were projecting a loss.
McDermott is the one winner in the oil-services sector, the charts show.