Annual report pursuant to Section 13 and 15(d)

REVENUES FROM MAJOR CUSTOMERS

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REVENUES FROM MAJOR CUSTOMERS
12 Months Ended
Dec. 31, 2011
REVENUES FROM MAJOR CUSTOMERS

10. REVENUES FROM MAJOR CUSTOMERS

The Company's customer base is primarily concentrated in the oil and gas industry. Through the Company’s marine fabrication subsidiary, its customer base is expanding into other industries that utilize marine vessels. The Company is not dependent on any one customer, and the revenue earned from each customer varies from year to year based on the contracts awarded. Revenues from customers comprising 10% or more of the Company's total revenue for the years ended December 31 are summarized as follows (in thousands):

 

     2011      2010      2009  

Chevron Corporation

   $ 63,769       $ —         $ —     

Eni US Operating Co. Inc.

     —           38,497         36,677   

American Electric Power Service Corporation

     —           27,858         —     

Versabuild, LLC

     —           27,407         —     

Bluewater Industries, Inc.

     —           —           112,011