Forbes ranks Cal Dive among the bestNews // November 2, 2001
Cal Dive is rated 109th overall and is one of only two oilfield service companies to qualify for this year's list. The company previously had been selected in the 1998 survey.
Owen Kratz, Chairman and Chief Executive Officer of Cal Dive, said: "Being selected for this significant honour again is particularly gratifying given the severe downturn which has persisted in the offshore marine construction industry since 1999. Our ability to grow sales and earnings through this trough, while delivering a five-year average return on capital of 15 per cent, highlights the value of our unique production contracting business. This counter-cyclical strategy, whereby we acquire interestsin oil and gas properties to secure the related marine contracting work, provides a natural hedge in energy industry downturns."