HOUSTON – (Realty News Report) – JDR Cable Systems has broken ground on the company’s new U.S. headquarters where it will design and manufacture products for the oil and gas industry.
The 65,000-SF facility, located in the Houston suburb of Tomball, will include 45,000 SF of assembly and testing area housing a 60-ton overhead crane and 20,000 SF of two-story office space.
Owned by TFKable Group of Poland, JDR Cable Systems works with many of the world’s energy companies and subsea service providers operating in oil & gas and renewable energy markets. The company’s high-performance subsea production umbilicals, intervention workover control systems, subsea power cables and accessories are used in offshore environments.
JDR Cable’s current facilities are in northwest Houston off Highway 290 near Beltway 8.
Located at 2012 South Persimmon east of Highway 249, the new, facility is a Design/Build project by Houston-based KDW. Construction of the new facility is scheduled for completion in the first half of 2021.
“Our Houston based business has grown strongly over the last decade, following an increased demand from our customers for our intervention, workover and control systems (IWOC) rental service,” Brian Davis, general manager for JDR Cable. “We also have increased our manufacturing and service support for our oil and gas customers in the Gulf of Mexico and abroad.”
Weak oil prices have been a drag on the economy in Houston which is known as the Energy Capital of the World. Lower demand during the coronavirus pandemic has reduced oil prices.
West Texas Intermediate crude fell below $1 a barrel on April 20 to a low of a negative $37 a barrel, a 300 percent one-day decline the likes of which has never been seen before. The WTI prices has been hovering around $40 a barrel in recent weeks.
July 30, 2020 Realty News Report Copyright 2020
File: New Headquarters Underway File(2) New Headquarters Underway for Oil & Gas Supplier JDR Cable