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Horizon Offshore News

19 Feb 2024

Jumbo Offshore Appoints Middle East Partner as it Eyes Regional Expansion

Dutch heavy lift shipping and offshore transport and installation contractor Jumbo Offshore has signed a memorandum of understanding (MoU) with Sea Horizon Offshore Marine Services, which will act as its representative in the Middle East region.Sea Horizon Offshore, with its broad network of local partners, will represent Jumbo Offshore to potential clients in the United Arab Emirates (UAE), Qatar, and Saudi Arabia.Its scope will also include commercial representation, supporting…

20 Jan 2022

Appeals Court Revives BP’s Fight Over Deepwater Cleanup Workers’ Claims

Crewmembers on board Coast Guard Cutter Walnut deploy an oil skimmer into oil the ship collects in its inflatable boom, July 2, 2010. The Walnut, homeported in Honolulu, Hawaii has been temporarily redeployed to the Gulf of Mexico to aid in the BP Deepwater Horizon response. - Credit:  Deepwater Horizon Response/(CC BY-ND 2.0)

A federal appeals court on Wednesday revived a fight between BP, two contractors, and an insurance company over who should pay for thousands of personal injury claims brought by cleanup workers after the Deepwater Horizon explosion and fire in 2010.The 5th U.S. Circuit Court of Appeals reversed most of a lower court’s rulings for contractors National Response Corp and O’Brien’s Resource Management, and for O’Brien’s excess-liability insurer, Navigators Insurance Co.The decision was not a complete win for BP, however.

17 Nov 2011

10,000dwt Ocean Deck Barge Sold

The 10,000dwt, Vanuatu flagged ocean flat deck barge "DRC/Blake 1" (ex- Eide Barge 35, Pacific Horizon, MB-100, SLB-1 and SLB-2) was sold to private South American buyers, marking the second time that Marcon International, Inc. of Coupeville, Washington has sold this heavily-built unit. Marcon previously sold her from Horizon Offshore of Houston, Texas to Eide Marine Services of Norway in 2004. "DRC/Blake 1's" dimensions are 100m x 30m x 7.5m' depth and she has a 10 tonnes per square meter uniform deck load. The barge is classed by Lloyds, LR +100 A1 Pontoon.

13 Sep 2011

Cal Dive Announces Promotions

Cal Dive International, Inc. announced today the retirement of Scott T. Naughton, the Company’s Chief Operating Officer, effective September 9, 2011. Also, the Company announced that John R. Abadie, Jr., the Company’s current Senior Vice President - Operations - Western Hemisphere, has been promoted to serve as Executive Vice President and Chief Operating Officer, and that G. Kregg Lunsford, the Company’s current Executive Vice President - Strategy and Business Development has been named Executive Vice President and Chief Strategy and Business Development Officer of the Company, both effective September 9, 2011. Mr. Abadie has nearly 20 years of international and domestic offshore marine construction experience. Mr.

13 Jul 2010

U.S. DOI Issues Offshore Drilling Moratorium … Again

Secretary of the Interior Ken Salazar directed the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM) to issue new suspensions of deepwater drilling – set to last until at least November 30, 2010 -- on the Outer Continental Shelf (OCS), claiming a pause is needed to ensure that oil and gas companies implement adequate safety measures to reduce the risks associated with deepwater drilling operations and are prepared for blowouts and oil spills. “More than eighty days into the BP oil spill…

01 Jul 2010

Deepwater Horizon—Further proof that oil and water don’t mix

Maritime Reporter invited Carleen Lyden-Kluss, Co-Founder and Executive Director of the North American Marine Environment Protection Association to provide an overview of the Deepwater Horizon disaster in the Gulf of Mexico. On April 20, our maritime world changed. No matter how you slice it, everyone in the maritime industry feels the effects of the tragedy; the loss of 11 lives and injury to 17 others, the extensive environmental impact, the economic fallout and ongoing costs, the exposure of weaknesses in the response system, and the regulatory changes that will result from this. The details of the event are well known:  the Deepwater Horizon oil spill, also called the BP Oil Spill/the Gulf of Mexico oil spill, is now considered the largest offshore spill in U.S. history.

03 Jan 2008

OMNI Hires Mogel

OMNI Energy Service Corp. announced that Ronald D. Mogel has been named Senior Vice President and Chief Financial Officer of the Company and is expected to begin in the middle of January, 2008. Mogel joins OMNI from Horizon Offshore Inc., a Nasdaq listed company that was acquired by Cal Dive International, Inc. in December 2007 for $628 million. Mr. Mogel most recently served as Executive Vice President and Chief Financial Officer of Horizon. He also acted as the company's Director and Vice President of International Accounting and Tax from 1999 to 2005. Previously, Mr. Mogel served as the Vice President of Finance at Newpark Shipbuilding- Pelican Island, Inc., and from 1995 to 1998 he occupied the role of CFO at John E. Chance & Associates.

12 Dec 2007

Cal Dive Completes Acquisition of Horizon

Cal Dive International, Inc. announced has completed its acquisition of Horizon Offshore following approval by Horizon's shareholders on December 10, 2007. As a result of the acquisition, each share of Horizon common stock has been converted into the right to receive $9.25 in cash and 0.625 shares of Cal Dive common stock. Information regarding the exchange of share certificates will be sent to Horizon shareholders as soon as practicable. The cash portion of the acquisition is being funded through a $375msenior secured term loan A facility which amortizes $20 million per quarter commencing on June 30, 2008. Interest floats at LIBOR plus 225 basis points and the facility is prepayable without penalty.

30 Oct 2001

Horizon Offshore Reports Third Quarter Earnings

Horizon Offshore, Inc. $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000. Horizon also reported net income for the nine months ended September 30, 2001, of $10.3 million. This compares with net income of $5.0 million, for the nine months ended September 30, 2000. gross profit was $17.9 million, or 16.5 percent, on contract revenues of $108.8 million for the first nine months of 2000. "During September, we purchased the Sea Horizon, a combination derrick/lay barge.

29 Jan 2004

Horizon Offshore Offers Finance Update

Horizon Offshore, Inc. revolving credit facilities to amend its loan agreements. million on January 31, 2004. outstanding under these revolving credit facilities. facilities mature on April 3, 2004. with the lenders on all of its credit facilities. above. claims is uncertain at this time. arbitration. in its fourth quarter 2003 results.

19 May 2004

Horizon Offshore Reports Barge Blaze

Horizon Offshore, Inc. reported that a fire broke out on one of its barges, the LB Gulf Horizon, while being towed approximately 400 miles off the coast of Georgia. The Horizon spokesman said, "All of the personnel on board have been evacuated to the supporting tow tug and are accounted for. We have no reports of injury to personnel during either the initial fire-fighting effort or the evacuation. The cause of the fire and the extent of the damage are not yet known. The fire continues to burn, so we cannot yet make a damage assessment. The barge was en route to Israel to perform a job for the Israel Electric Corporation Ltd. Anticipating that the Gulf Horizon will not be able to perform this job…

11 Dec 2001

FGH Announces $10 Million in New Contracts

FGH Engineered Products Group, the equipment segment of Friede Goldman Halter, Inc., announced that its AmClyde unit has signed new contracts totaling over $10 million with several customers in the international offshore oil and gas sector. AmClyde crane to a new vessel. AmClyde also has a contract from Horizon Offshore Contractors to upgrade the lifting capacity on their existing AmClyde Model 52 marine crane by more than 50 percent. AmClyde is the preeminent designer/builder of the world's largest marine cranes. support services for their new 3,800-ton AmClyde marine crane. services contract. contract from AIOC (Azerbaijan International Operating Company) to provide a template leveling system. a further boost to the backlog of our Engineered Products Group. this group.

12 Mar 2002

Horizon Offshore Reports 2001 Earnings

Horizon Offshore, Inc reported net income for the fiscal year ending December 31, 2001, of $10.7 million. This compares with a net income of $6.4 million diluted in 2000. Before recording an extraordinary charge of $0.6 million net of taxes, net income for the fiscal year ending December 31, 2001 was $11.3 million, or $0.49 per share diluted. For the three months ended December 31, 2001, Horizon reported net income of $0.4 million, or $0.02 per share diluted, on revenues of $73.8 million, compared with a net income of $1.4 million, or $0.07 per share diluted, on revenues of $51.8 million for the fourth quarter 2000. For the fiscal year ending December 31, 2001, gross profit was $35.0 million, or 12.9 percent on contract revenues.

30 Apr 2002

Horizon Offshore Reports First Quarter Results

Horizon Offshore, Inc. reported first quarter net income of $0.4 million or $0.02 per share compared with a net income of $2.7 million or $0.12 per share-diluted before an extraordinary charge of $0.6 million net of tax for the first quarter of 2001. For the first quarter of 2002, Horizon reported gross profit of $5.0 million, or 7.6 percent, on contract revenues of $66.1 million, compared with gross profit of $9.5 million, or 17.6 percent, on contract revenues of $54.1 million last year. Pre-tax net income of $0.5 million and an income tax provision of $0.2 million were recorded for the first quarter of 2002, compared with a pre-tax net income of $4.2 million and an income tax provision of $1.5 million in the first quarter of 2001.

03 Jun 2002

Horizon Offshore Names John T. Mills as Director

Horizon Offshore, Inc. announced the election of John T. Mills to its board of directors. John T. Mills is senior vice president and chief financial officer of Marathon Oil Corporation. Mills joined Marathon Oil Company in 1976 as a tax specialist. He became chief tax counsel in 1984. In 1986, he became director of taxes and energy for USX Corporation. He was appointed vice president of taxes for USX in 1987. In September 1998, Mr. Mills was appointed senior vice president of finance and administration at Marathon Oil Company. Prior to joining Marathon, Mr. Mills was employed by Coopers and Lybrand for three years. Mr. Mills earned a bachelor's degree in economics from Ohio University in 1969 and a law degree from Ohio State University in 1973.

03 Jun 2002

Horizon Offshore Names Frank as Chairman of the Board

Horizon Offshore, Inc. announced the board of directors has elected J. Louis Frank as chairman of the board of the Houston-based marine construction company. Replacing outgoing chairman, James Devine, a UK national, with Frank, a U.S. citizen, allows Horizon to meet certain U.S. regulatory requirements relevant to a recently awarded contract. Mr. Devine remains a member of the board of directors. J. Louis "Corky" Frank joined the board of directors at Horizon in July 2001. Frank has extensive oil and gas and management experience, having held numerous positions of responsibility over 43 years with Marathon Oil Company, including service as president of Marathon Ashland Petroleum. He retired from Marathon in 2001.

29 May 2002

Horizon Offshore Announces Award of PEMEX Contract

Horizon Offshore, Inc. announced that it has been awarded PEMEX Contract for the construction of 24 km of 8" pipeline and associated platform piping from KIX-1 to Pump Platform PR-1. The lay barge, Lone Star Horizon, and diving support vessel, Pearl Horizon, will be utilized on the project. Construction is scheduled to begin late in the third quarter of 2002. "Our continued presence in Mexico has strengthened Horizon's position and enabled us to secure additional projects such as KIX. We have enjoyed our continuing relationship with PEMEX and are very excited about this award," said Bill Lam, President and CEO of Horizon Offshore.

17 Aug 2000

Horizon Offshore Granted Pipeline Construction Component

An alliance of which Horizon Offshore is a member has been granted a contract for the EPC 64 project from Pemex Exploracion y Produccion. The project's workscope, which entails the installation, bury, hook-up and commissioning of seven pipelines in the Cantarell Field, call for Horizon to provide all marine construction. With work set to commence during August, the company will utilize one of its pipelay barges, Gulf Horizon, for laying the 12-, 20- and 24-in. pipelines. In addition, Horizon's bury barge, Canyon Horizon, will perform jetting operations to bury the newly installed pipelines and will perform the activities related with crossing existing pipelines.

02 Feb 2001

Horizon, Cal Dive Form Joint Venture

Horizon Offshore, Inc. has entered into a letter of intent with Cal Dive International, Inc. (CDI) to conduct reeled pipelay projects in deepwater areas of the U.S. Gulf of Mexico. The two companies will jointly fund construction of pipelay equipment to be used in conjunction with CDI's dynamically positioned (DP) vessel, the Sea Sorceress, currently undergoing conversion. In addition, Horizon will construct a pipe spooling facility at its Port Arthur, Texas, shore base. Once finalized, the joint venture will allow the two companies to perform small diameter pipelay projects in water depths of 800 feet and deeper, combining Horizon's…

09 Sep 2004

Horizon Announces Management Changes

Horizon Offshore, Inc. named Richard A. Sebastiao of RAS Management Advisors, Inc., a turnaround and management consulting firm, as chief restructuring officer of the company. As chief restructuring officer, Mr. Sebastiao will serve as the company's principal executive officer. Bill J. Lam, its CEO and President will continue as President and be responsible for the day-to-day operational activities.

01 Sep 2004

Horizon Offshore Announces Management Changes

Horizon Offshore, Inc. named Richard A. Sebastiao of RAS Management Advisors, Inc., a turnaround and management consulting firm, as chief restructuring officer of the company. The company engaged a chief restructuring officer as part of its ongoing negotiations with the holders of its 18% subordinated secured notes, due March 31, 2007. As chief restructuring officer, Mr. Sebastiao will serve as the company's principal executive officer and work with the company's senior management to strengthen the company's financial position and reduce its indebtedness. Bill J. Lam, its Chief Executive Officer and President will continue as President and be responsible for the day-to-day operational activities of the company, while negotiating an amendment to his employment agreement with the company.

29 Apr 2005

Horizon Offshore Names New CEO, CFO

Horizon Offshore, Inc. elected David W. Financial Officer, as President and Chief Executive Officer. Mr. J. Lam in December, 2004. The Company also announced the promotion of Ronald D. Mogel, currently Vice President International Accounting and Tax of the Company's subsidiary Horizon Offshore Contractors, Inc., to Chief Financial Officer. The elections will be effective on April 30, 2005. Richard A. Sebastiao of RAS Management Advisors, Inc., a turnaround and management consulting firm, who functioned as the Company's Chief Restructuring Officer and principal executive officer since August 30, 2004, has resigned, also effective on April 30, 2005.

16 Jun 2005

Horizon Receives Pemex Contract in Mexico

Horizon Offshore’s subsidiaries, HOC Offshore S. de R.L. de C.V. and Horizon Offshore Contractors, Inc. jointly received a letter of award for the KU-MALOOB-ZAAP project from Pemex Exploracion y Produccion. The project calls for installation, tie-in, and associated topside hookup works of four pipelines. Horizon will utilize its lay barge Lone Star Horizon on the project. Construction is scheduled to begin late in the third-quarter of 2005. “Despite having experienced economic difficulties during a period of lower demand for our services, we have maintained good relationships with all of our major customers, including Pemex,” said David Sharp, President and CEO of Horizon Offshore, Inc. successfully complete major construction projects.

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