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Superior Offshore International News

10 Apr 2008

Tidewater Eyeing Superior Offshore Assets

The CEO of Tidewater Inc said his company is evaluating assets from Superior Offshore International which last week warned of limited liquidity, Reuters reported said the process was in the very early stages for Tidewater, which is the world's largest provider of offshore supply boats to the energy industry. On April 1, Superior Offshore, which provides subsea construction and commercial diving services, said it hired the investment back of Tudor, Pickering, Holt & Co. to explore strategic alternatives, including a possible sale. Source:  Reuters

09 Jan 2008

Hornbeck Offshore to Acquire Superior Achiever

Hornbeck Offshore Services, Inc. announced today that it has entered into a definitive asset purchase agreement with Superior Offshore International, Inc, a subsea construction and commercial diving services company, to acquire the Superior Achiever, a T-22 class DP-3 new generation multi-purpose support vessel and related owner-furnished equipment, currently under construction at Merwede Shipyard in Holland with an anticipated fourth quarter 2008 delivery. Merwede Shipyard is also building for Hornbeck the HOS Iron Horse, a T-22 class DP-3 MPSV of the same design, with an expected fourth quarter 2009 delivery. With the pending acquisition of the Superior Achiever, the Company's MPSV program now consists of four vessels.

18 Nov 2007

Superior Offshore Shares Plunge

Shares of Superior Offshore International Inc., plunged after the company delayed filing its third-quarter financial statement. Superior Offshore shares dropped 77 cents, or 9 percent, to close at $7.83, after plunging 24 percent to $6.56 earlier in the session. The stock has dropped more than 40 percent since its initial public offering priced at $15 in April. In a Securities and Exchange Commission filing, Superior Offshore said the third-quarter filing was delayed as the company determines whether it is required to reclassify long-term debt as current debt. Superior Offshore said the reclassification may be necessary under the terms of a waiver from a lender related to defaults on the company's senior secured term loan facility.

27 Jun 2007

Superior Offshore Relocates HQ

Superior Offshore International, Inc. completed the relocation of its corporate headquarters from Lafayette, Louisiana to Houston. The company's new corporate offices are located downtown at: Superior Offshore International, Inc. 717 Texas Avenue, Suite 3150 Houston, TX 77002 Phone: 713-910-1875

08 Jun 2007

Superior Offshore Names Weinhoffer as VP

Superior Offshore International, Inc. has appointed David Weinhoffer to serve as its Vice President of Business Development effective immediately. With over 25 years of oilfield-related and international marine operations experience, David Weinhoffer is a tremendous addition to Superior Offshore International’s executive management team. As Vice President of Business Development, Weinhoffer will oversee and manage the day-to-day operations of Superior Offshore International’s Sales, Marketing and Commercial departments.

18 May 2007

Superior Offshore International Announces 1Q Results

Superior Offshore International, Inc. , a leading provider of subsea construction and commercial diving services on the outer continental shelf of the Gulf of Mexico, announced operating results for the quarter ended March 31, 2007. The Company reported total revenues of $54.3 million for the first quarter of 2007, compared with revenues of $49.4 million in the prior year's first quarter, an increase of 10 percent. Revenues for the first quarter of 2007 exceeded the estimate included in the Company's Prospectus relating to its initial public offering completed on April 25, 2007.

03 May 2007

Superior Offshore International Names Patrice Chemin as COO

Superior Offshore International, Inc. a leading provider of subsea construction and commercial diving services on the outer continental shelf of the Gulf of Mexico, has named Patrice Chemin as its Chief Operating Officer, or COO, effective immediately. With over 35 years of oilfield-related and international marine construction experience, Chemin is a tremendous addition to Superior Offshore International’s executive management team.

28 Aug 2006

Odyssea Marine Releases Information on Vessel Fire

On August 11, the M/V Odyssea Voyager, a 195-ft. dive support vessel owned by Odyssea Marine, Inc., and operated by Odyssea’s North Bank Towing Division, was severely damaged by fire the cause of which is not yet known. Located in West Delta Block 35, the Voyager, in a four-point mooring configuration, was supporting diving operations of Superior Offshore International, Inc., when flames were noticed in a compartment in the bow section of the vessel. As the crew fought the flames, the fire spread and eventually engulfed the main cabin of the vessel. There were 40 people on board, including 26 passengers and 14 crew members, all of whom abandoned ship, and were brought to safety.

18 Apr 2006

PetroCom Launches VSAT System

PetroCom’s new Very Small Aperture Terminal (VSAT) satellite communication system is structured around private communication networks. Built with the newest technologies and equipment, this system is designed to offer the ability to turn bandwidth on and off, re-allocate bandwidth or schedule increased bandwidth as business needs change. Recently, PetroCom signed agreements to provide VSAT voice and data services for Onyx Special Services, Superior Offshore International and Tetra Applied Technologies. Last month, Helix Energy Solutions tapped PetroCom to provide VSAT services for its offshore fleet. Multiplex VSAT communication networks with speeds from 64 to 512K are available for fixed and stabilized applications.