Quarterly report pursuant to Section 13 or 15(d)

CONTRACTS RECEIVABLE AND RETAINAGE

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CONTRACTS RECEIVABLE AND RETAINAGE
9 Months Ended
Sep. 30, 2016
Contractors [Abstract]  
CONTRACTS RECEIVABLE AND RETAINAGE
CONTRACTS RECEIVABLE AND RETAINAGE
Our customers include major and large independent oil and gas companies, marine companies, and their contractors. Of our contracts receivable balance at September 30, 2016, $12.1 million, or 45.6%, is with three customers. The significant projects for these three customers consist of:
offshore services projects for two oil and gas customers in our Services segment; and
the fabrication and repair to a deepwater structure for one of our oil and gas customers in our Fabrication segment.
At September 30, 2016, we included an allowance for bad debt of $623,425 in our contract receivable balance.