Horizon Offshore Purchases DP2 Vessel

Cut 988 Horizon Offshore announced that its subsidiary, Horizon Vessels, Inc., has agreed to acquire the Sea Wrangler, a diving support and deepwater reel pipelay vessel. The company expects to complete the purchase later this month and to finance a portion of the purchase price. Horizon intends to rename the vessel the Texas Horizon and place it into service as soon as possible following routine maintenance due to the vessel's current laid up status. The company intends to utilize the vessel to support its Gulf of Mexico operations in both the U.S. and Mexican market areas.