Energy production in the Gulf of Mexico is fueling a big boom in orders for specialized subsea...

|By:, SA News Editor

Energy production in the Gulf of Mexico is fueling a big boom in orders for specialized subsea equipment used in offshore wells, FMC Tech (FTI +4.9%) CEO John Gremp tells analysts in today's conference call. Demand for the equipment, anticipated for a while, is finally here, he says, with orders for subsea trees up 30%-40% last year with more to come in 2013. (Q4 earnings)