Although Gulf Island was founded in 1985, we like to think we have oil and gas history dating back to 1947 when Alden J. "Doc" Laborde worked on the first offshore oil and gas well out of site of land.
Mr. Laborde organized Ocean Drilling and Exploration Co., better known as ODECO, in 1953 to build the world's first offshore mobile drilling rig. A year later, he organized Tidewater Marine to help support his rigs. Tidewater would continue to grow and become the largest supply boat company in the United States.
In 1985, amidst a downturn in the oil and gas industry, Doc Laborde co-founded Gulf Island Fabrication Inc. to build offshore oil-drilling platforms. Gulf Island continued to grow by going public in 1997 (NASDAQ: GIFI).
Looking forward, we intend to grow organically by focusing our efforts on creating additional opportunities in marine construction and repair along with fabrication of on-shore modules for the petrochemical industry during 2016.
With the petrochemical plant upgrades comes opportunities to provide onsite labor to perform hookup and commissioning work. We also continue efforts to secure fabrication work in non-traditional markets, including alternative energy.
Alden J. 'Doc' Laborde
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16225 Park Ten Place | Suite 280 | Houston, TX 77084 | (713) 714-6100 NASDAQ