Hornbeck Offshore Announces Tender Offer and Consent Solicitation for Its 8.000% Senior Notes Due 2017

  Hornbeck Offshore Announces Tender Offer and Consent Solicitation for Its
                         8.000% Senior Notes Due 2017

PR Newswire

COVINGTON, La., March 14, 2013

COVINGTON, La., March 14, 2013 /PRNewswire/ --Hornbeck Offshore Services,
Inc. (NYSE: HOS) (the "Company") announced today that it has commenced a cash
tender offer (the "Offer") to purchase any and all of its $250,000,000 in
outstanding aggregate principal amount of 8.000% Senior Notes due 2017 (CUSIP
440543 AH 9) (the "8.000% Notes"). In connection with the Offer, the Company
is soliciting consents (the "Consent Solicitation") to proposed amendments
that would eliminate most of the restrictive covenants and certain default
provisions contained in the indenture governing the 8.000% Notes (the
"Indenture").

The Offer is scheduled to expire at 11:59 p.m., New York City time, on April
10, 2013, unless extended or earlier terminated (the "Expiration Time").
Holders who validly tender their 8.000% Notes and provide their consents to
the amendments to the Indenture before 5:00 p.m., New York City time, on March
27, 2013, unless extended (the "Consent Expiration"), will be eligible to
receive the Total Consideration (as defined below). The Offer contemplates an
early settlement option, so that holders whose 8.000% Notes are validly
tendered prior to the Consent Expiration and accepted for purchase could
receive payment on an initial settlement date ("Initial Settlement Date"),
which is expected to be as early as March 28, 2013. Tenders of 8.000% Notes
may be validly withdrawn and consents may be validly revoked until the
Withdrawal Time (defined below). Holders who validly tender their 8.000% Notes
after the Consent Expiration and prior to the Expiration Time will be eligible
to receive payment on the final settlement date, which is expected to be April
11, 2013.

The "Total Consideration" for each $1,000 principal amount of 8.000% Notes
validly tendered and not validly withdrawn prior to the Consent Expiration is
$1,071.20, which includes a consent payment of $30.00 per $1,000 principal
amount of 8.000% Notes. Holders tendering after the Consent Expiration will be
eligible to receive only the "Tender Offer Consideration," which is $1,041.20
for each $1,000 principal amount of 8.000% Notes, and does not include a
consent payment. Holders whose 8.000% Notes are purchased in the Offer will
also receive accrued and unpaid interest from the most recent interest payment
date for the 8.000% Notes up to, but not including, the applicable payment
date.

In connection with the Offer, the Company is soliciting consents to certain
proposed amendments to the Indenture. Holders may not tender their 8.000%
Notes without delivering consents or deliver consents without tendering their
8.000% Notes. No consent payments will be made in respect of 8.000% Notes
tendered after the Consent Expiration. Following receipt of the consent of
holders of a majority in aggregate principal amount of the 8.000% Notes, the
Company will execute a supplemental indenture to amend the Indenture to
eliminate substantially all of the restrictive covenants and certain events of
default in the Indenture.

Tendered 8.000% Notes may be withdrawn and consents may be revoked before 5:00
p.m., New York City time, on March 27, 2013, unless extended (the "Withdrawal
Time"), but generally not afterwards, unless required by law. Any extension or
termination of the Offer will be followed as promptly as practicable by a
public announcement thereof.

The Offer is subject to the satisfaction of certain conditions including: (1)
receipt of consents to the amendments to the Indenture from holders of a
majority in principal amount of the outstanding 8.000% Notes governed by the
Indenture, (2) execution of a supplemental indenture effecting the amendments,
(3) consummation of the capital markets debt financing announced today raising
proceeds on terms satisfactory to the Company in an amount sufficient to fund
the Offer and (4) certain other customary conditions.

The complete terms and conditions of the Offer are described in the Offer to
Purchase and Consent Solicitation Statement dated March 14, 2013, copies of
which may be obtained from Global Bondholder Services, the depositary and
information agent for the Offer, by calling (866) 294-2200 (US toll-free) or
(212) 430-3774 (collect).

The Company has also retained Barclays Capital Inc., J.P. Morgan Securities
LLC, Wells Fargo Securities, LLC and DNB Markets, Inc. as dealer managers for
the Offer and solicitation agents for the Consent Solicitation. Questions
regarding the terms of the Offer may be directed to Barclays Capital Inc.,
Liability Management Group, at (212) 528-7581 (collect) and (800) 438-3242 (US
toll-free), J.P. Morgan Securities LLC at (212) 834-4802 (collect) and (866)
834-4666 (US toll-free), Wells Fargo Securities, LLC, Liability Management
Group, at (704) 410-4760 (collect) and (866) 309-6316 (US toll-free) and DNB
Markets, Inc. at (212) 681-3911 (collect).

This announcement is not an offer to purchase, a solicitation of an offer to
sell or a solicitation of consents with respect to any securities. The Offer
is being made solely by the Offer to Purchase and Consent Solicitation
Statement dated March 14, 2013. The Offer is not being made to holders of
8.000% Notes in any jurisdiction in which the making or acceptance thereof
would not be in compliance with the securities, blue sky or other laws of such
jurisdiction.

The Company is a leading provider of technologically advanced, new generation
offshore supply vessels primarily in the U.S. Gulf of Mexico and Latin
America, and is a leading short-haul transporter of petroleum products through
its coastwise fleet of ocean-going tugs and tank barges, primarily in the
northeastern U.S. and the U.S. Gulf of Mexico. The Company currently owns a
fleet of 79 vessels primarily serving the energy industry and has 24
additional high-spec Upstream vessels contracted, approved or under
construction for delivery on various dates through 2015.

Forward-Looking Statements
This news release contains forward-looking statements, including, in
particular, statements about the Company's plans and intentions with respect
to the purchase of the 8.000% Notes, the proposed amendment to the Indenture
and the construction of certain vessels. These have been based on the
Company's current assumptions, expectations and projections about future
events. Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, the Company can give no assurance
that the expectations will prove to be correct.

Contacts: Todd Hornbeck, CEO
          Jim Harp, CFO
          Hornbeck Offshore Services
          985-727-6802
          Ken Dennard, Managing Partner
          Dennard-Lascar / 713-529-6600

SOURCE Hornbeck Offshore Services, Inc.

Website: http://www.hornbeckoffshore.com