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1319582013RecognizingthatitsbusinesshadfundamentallychangedthecompanychangeditsnameaswelltoGulfMarkInternationalInc.Thenamewaschosentorecognizetheleadershipandcontributionsofthecompanyslong-servingandreveredChairmanthelateMarkMillard.GulfMarksnewmarineservicesdivisionGulfOffshoreMarinesupportedabroadrangeofoffshoreexplorationdrillingandproductionactivities.Itsservicesincludedtowingandpositioningofmobiledrillingrigsanchorhandlingtransportingpersonnelandsuppliestooffshoreplatformsandsupportingoffshorepipelayingandconstructionprojects.SuccessAmidsttheStormDuring1991theU.S.petroleumindustrywasundersiege.Oilmarketswerevolatileandunstable.Naturalgaspricesreachedlowsthathadnotbeenseenforoveradecade.Majoroilcompaniesreduceddomesticexplorationexpenditures.Theexodusbythesmallerindependentoperatorscontinuedandnewregulatoryandenvironmentalrestrictionswereenacted.Allthesefactorsconvergedin1991andthedomesticdrillingrigcountplungedtoitslowesthistoricallyrecordedlevel.Mr.ButtersexplainedAtGulfMarkwewerefortunatetohaveanticipatedthesetrends.InourmarineservicesoperationGulfOffshoreMarineallofourvesselsarebasedoutsideoftheUnitedStates.EnergyVenturesournon-consolidatedafliateachievedrecordrevenuesandoperatingprotswhilegeographicallybroadeningitsrevenuebasehavingone-quarterofitsrevenuestreamsourcedfromareasoutsideNorthAmerica.HecontinuedGulfOffshoreMarineourprincipaloperatingcompanyiswellregardedbyitsindustrypeersandenjoysexcellentrelationshipswithitscustomers.Ourstrategyhasbeentotakealong-termgrowthapproachupgradingoureetthroughnewconstructionandequipmentEmbarksonanewvesselconstructionprogramtoaugmentadiversiedandtechnologicallyadvancedeetwithninenewvessels.AcquiresHighlandPatriot.Revenuesexceed100million.AcquiresSeaTruckHoldingASaNorwegiancompanywithvesselsthatincludetheSafeTruckStoutTruckandSteamTruck.2000200120012001GulfMarksnewmarineservicesdivisionGulfOshoreMarinesupportedabroadrangeofoshoreexplorationdrillingandproductionactivities.Itsservicesincludedtowingandpositioningofmobiledrillingrigsanchorhandlingtransportingpersonnelandsuppliestooshoreplatformsandsupportingoshorepipelayingandconstructionprojects.1990AnnualReport