Hornbeck Offshore Services, Inc. provides marine transportation, subsea installation, and accommodation support services to exploration and production, oilfield service, offshore construction, and the U.S. military customers. The company owns and operates a fleet of the U.S.-flagged, new generation offshore supply vessels (OSVs) and multi-purpose support vessels (MPSVs). It has 63 OSVs and 5 MPSVs. Together, these vessels support the deep-well, deepwater and ultra-deepwater activities of the offshore oil and gas industry. Such activities include oil and gas exploration; field development; production; construction; installation; inspection, repair and maintenance; well-stimulation; and other enhanced oil recovery activities. The company has also developed a specialized application of its new generation OSVs for use by the U.S. military. OSVs and MPSVs operate worldwide, but are concentrated in relatively few offshore regions with high levels of exploration and development activity, such as the GoM (the U.S. Gulf of Mexico), the North Sea, Southeast Asia, West Africa, Latin America, and the Middle East. The company’s core geographic markets are the GoM, Mexico, and Brazil. In these markets, the company provides services to various major integrated oil companies, as well as mid-size and large independent oil companies with deepwater and ultra-deepwater activities and to national oil companies, such as Petroleos Mexicanos and Petroleo Brasileiro S.A. The company also occasionally operates in select international markets, which have included West Africa, Latin America, the Mediterranean Sea, the Black Sea, and the Caribbean basin, including Nicaragua, Guyana, Trinidad, and Venezuela. The company has further diversified by providing specialized vessel solutions to non-oilfield customers, such as the United States military, as well as oceanographic research and other customers that utilize marine platforms in their operations. The company also operates a shore-base support facility located in Port Fourchon, Louisiana. On occasion, the company provides vessel management services for other vessel owners, such as crewing, daily operational management, and maintenance activities. In February 2015, the company agreed to sell four of its 250EDF class OSVs chartered to the U.S. Navy and to subsequently operate such vessels for the Navy under an operations and maintenance contract. Customers The company’s customers are limited to large, independent, integrated or nationally-owned energy companies. For the year ended December 31, 2014, Royal Dutch Shell plc (including worldwide affiliates) accounted for 10% or more of the company’s consolidated revenues. Government Regulation Environmental Laws and Regulations: All of the wastes that the company generates are handled in all material respects in compliance with the Resource Conservation and Recovery Act and analogous state statutes. Seasonality Demand for the company’s offshore support services is directly affected by the levels of offshore drilling and production activity. Budgets of majority of the company’s customers are based upon a calendar year, and demand for its services has historically been stronger in the second and third calendar quarters (year ending December 2014) when allocated budgets are expended by its customers and weather conditions are more favorable for offshore activities. In addition, the company has an increase in demand for its vessels to survey and repair offshore infrastructure immediately following major hurricanes or other named storms in the GoM. History Hornbeck Offshore Services, Inc. was founded in 1997. The company was incorporated under the laws of the state of Delaware in 1997.
hornbeck offshore services
(HOS:New York Consolidated)
103 Northpark Boulevard
Covington, LA 70433
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