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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): December 20, 1999
GulfMark Offshore, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
000-22853 76-0526032
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(Commission File Number) (I.R.S. Employer Identification No.)
5 Post Oak Park, Suite 1170, Houston, Texas 77027
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(Address of Principal Executive Offices) (Zip Code)
(713)963-9522
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
(Exhibit Index Located on Page 3)
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ITEM 5. OTHER EVENTS
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On December 20, 1999, GulfMark Offshore, Inc. (NASDAQ: GMRK) announced
vessel acquisition and new contracts. Additional information is included in
the Company's press release dated December 20, 1999, which is attached
hereto as Exhibit 99.1
(b) Exhibits.
Exhibit No. Description
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99.1 Press Release dated December 20, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GulfMark Offshore, Inc.
Date: December 20, 1999 By: /s/ Edward A. Guthrie
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Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated December 20, 1999
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PRESS RELEASE
FOR IMMEDIATE RELEASE
December 20, 1999 -- GulfMark Offshore, Inc. (NASDAQ:GMRK) today
announced it had acquired the Oceanic Pioneer from Cammell-Laird at a
cost of approximately $4.8 million. This vessel, previously managed by
GulfMark and renamed the Highland Pioneer, has been assigned to a new
five year contract with BHP Petroleum Ltd. in the United Kingdom
beginning December 17, 1999. One of the Company's other vessels, the
Highland Drummer, will substitute for the Highland Pioneer's contract
with Marathon through March 2000.
The Company also announced it had been awarded several other noteworthy
contracts. The Highland Sprite has been awarded a five year contract
with British Gas (Hydrocarbon Resources Limited) for work as a multi-
role in-field support vessel in the Morecambe Bay Field in the United
Kingdom. The Company will spend approximately $2.4 million to effect
conversion of the vessel pursuant to the contract which is scheduled to
begin midway through the first quarter of 2000. Both of the newbuild
vessels completed in the third quarter of 1999, Highland Guide and
Highland Scout, have been committed to contracts in early 2000 based on
letters of intent. The Highland Guide is mobilizing to Indonesia
pursuant to a two year deal while the Highland Scout will be mobilizing
to Brazil at the end of the week pursuant to a 120 day firm agreement
with an additional 120 day option. The Company has also received a two
year contract from Mobil Equatorial Guinea, Inc. to operate a bareboat
chartered vessel, the Monarch Bay in West Africa. This contract is
also expected to begin during the first quarter of 2000.
Bruce Streeter, President and Chief Operating Officer, said "I am
extremely pleased with the new contracts, as they will provide
attractive economic returns based on the initial dayrates. We are also
excited to be placing another vessel in the Brazilian market where we
believe demand for platform supply vessels is likely to grow over the
next year or so." He then added, "We will be entering a new market with
the Monarch Bay in West Africa, a market which we believe will also
experience significant growth in the years ahead."
GulfMark Offshore, Inc. provides marine transportation services to the
energy industry with a fleet of fifty (50) offshore support vessels,
primarily in the North Sea, offshore Southeast Asia and Brazil.
Contact: Edward A. Guthrie, Executive Vice President and Chief
Financial Officer
(713) 963-9522
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This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995 which involve known and unknown risk, uncertainties and other
factors. Among the factors that could cause actual results to differ
materially are: prices of oil and gas and their effect on industry
conditions; industry volatility; fluctuations in the size of the
offshore marine vessel fleet in areas where the Company operates;
changes in competitive factors; and other material factors that are
described from time to time in the Company's filings with the SEC.
Consequently, the forward-looking statements contained herein should not
be regarded as representations that the projected outcomes can or will
be achieved.
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