Oceaneering Announces $300 Million Revolving Credit Agreement - Oceaneering International (NYSE:OII)

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Oceaneering International, Inc.(NYSE: OII) announced that it has entered into a new credit agreement for a$300 million revolving credit facility. The new agreement replaces a priorcredit agreement that was set to expire January 22, 2012. The new agreementbecame effective immediately and will remain in effect for five years. Thebanks participating in the new credit agreement are Wells Fargo Bank, NationalAssociation ("Wells Fargo"), DNB Bank ASA ("DNB"), HSBC Bank USA, N.A.,JPMorgan Chase Bank, N.A., Bank of America, N.A., and Barclays Bank PLC. Theamount available under the revolving credit facility can be increased to up to$500 million at any time upon the agreement of Oceaneering and existing oradditional lenders.

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