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March 16, 2009

New repair yard for Houma

Louisiana Gov. Bobby Jindal today joined Performance Energy Services LLC to announce an expansion of the company's facility in Houma, La.. The company will develop five acres at the Port of Terrebonne, which will be used as a topside deck and marine repair yard. The project involves a $26 million capital investment that, according to Louisiana Economic Development, will retain 800 jobs and create 350 new jobs within five years at an average salary of over $55,000 plus benefits.

Gov. Jindal said, "Louisiana's recent economic success is a result of our efforts to retain and expand such existing businesses as Performance Energy Services. Today's announcement highlights our state's ability to attract investment as tough economic times sweep across the nation."

Construction on the facility is expected to begin in the third quarter of 2009 and to be completed by the end of the second quarter of 2010. The company has applied for Louisiana Economic Development's Enterprise Zone program and Economic Development Awards Program to help finance the project.

"We are proud to have the state of Louisiana partner with us in Houma for our most recent expansion project," said Ricky LaGrange, CEO of Performance Energy Services. "We have worked on this project with many local and state officials and are very pleased to see all of the hard work result in a positive change in Louisiana, creating more jobs and helping the local and state economy. We could never imagine a time in which Performance Energy Services would not want to call Terrebonne Parish home."

Established in June 2000, Performance Energy Services has headquarters and facilities in Houma. The company specializes in onshore spool piping, structural fabrication, sandblasting and painting, and offshore installations. In addition to its South Louisiana operations, Performance Energy has a location in Ingleside, Texas, which serves the oil and gas industry throughout the Gulf of Mexico.


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