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Sunday, October 23, 2016

Hornbeck Offshore Reviews TTB Business

June 6, 2008

Hornbeck Offshore Services, Inc. announced that the Company has retained J.P. Morgan Securities Inc. (JPMorgan) to act as its financial advisor in a thorough review of strategic alternatives for its downstream tug and tank barge (TTB) business. This review will consider possible alternatives available to the company for the TTB business, including: (i) potential further growth by acquisitions, mergers or consolidations; (ii) potential disposition or monetization of all or a portion of the Company's ownership interests in the TTB business; (iii) other potential restructuring transactions involving the use of a master limited partnership ("MLP") structure; or (iv) maintaining the status quo.

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