Hornbeck Offshore Announces Q1 2011
COVINGTON, La., April 21, 2011 /PRNewswire via COMTEX/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it will release its first quarter 2011 financial results at approximately 6:00 a.m. Eastern on Thursday, May 5, 2011. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, on Thursday, May 5, 2011 at 10:00 a.m. Eastern (9:00 a.m. Central). Thursday, May 5, 2011 at 10:00 a.m. Eastern (9:00 a.m.
Hornbeck Offshore Denies Oil Spill Responsibility
Confirming a press report in a trade publication earlier, Hornbeck Offshore Services, Inc. announced that the Company was not responsible for the oil spill that occurred earlier this week into the waters of Arthur Kill near Perth Amboy, New Jersey. According to the United States Coast Guard, the terminal has assumed responsibility for cleaning the spill and has contracted Clean Harbors and Atlantic Response to help with the cleanup. Carl Annessa, Hornbeck Offshore's Chief Operating Officer, stated, "There is currently an ongoing investigation by the controlling authorities into this incident with which Hornbeck Offshore is fully cooperating as a witness. One of our double-hulled tank barges, the Energy 8001, was present at the terminal at the time of the spill.
Hornbeck Offshore Says Class Action Lawsuits Without Merit
Hornbeck Offshore Services, Inc. announced that it has recently learned that purported class action lawsuits were reportedly filed against the Company and one or more senior executives or directors, in the United States District Court for the Eastern District of Louisiana related to disclosures under the securities laws. Based on its initial review of one of the complaints, Hornbeck Offshore believes that such lawsuits are without merit and intends to defend these suits vigorously. As a public company, Hornbeck Offshore maintains insurance coverage to address such matters. Management remains focused on the operation, development and growth of the Company.
Leevac Wins HOS Shipbuilding Contract
Leevac Shipyards Jennings LLC, of Jennings, LA, a subsidiary of Leevac Shipyards, LLC signed contracts with Hornbeck Offshore Services, LLC, an affiliate of Hornbeck Offshore Services, Inc. (NYSE:HOS) of Covington, La., for the construction of two STX Marine SV 310 Multi-Purpose Supply Vessels; 302 x 76 x 26-ft,, 12,070 BHP diesel electric powered MPSV’s. “These will be the twenty-third and twenty-fourth vessels to be built by Leevac for Hornbeck” said Christian Vaccari, President and CEO of LEEVAC.
Todd M. Hornbeck Elected as Chairman of the Board of Hornbeck Offshore
Hornbeck Offshore Services, Inc. announced that, in a Board of Directors meeting following its 2005 Annual Stockholders' Meeting, Todd M. Hornbeck was elected to the position of Chairman of the Board, in addition to his current position as President and Chief Executive Officer. Also, Bruce W. Hunt was designated as Lead Independent Director for the Board for the calendar year 2005. Mr. Bernie W. Stewart, who has served as Chairman since February 2002, will continue to serve as an independent director of the Company. Mr. Stewart will also continue to chair Hornbeck Offshore's compensation committee and serve on the audit, nominating and corporate governance committees. Mr.
Hornbeck Announces 4Q Results
Hornbeck Offshore Services Inc., said earnings this year should be between $2.19 per share and $2.68 cents per share. The company said it expects a first-quarter profit of between 42 cents per share and 55 cents per share. Analysts estimate 60 cents per share. Hornbeck Offshore expects operating expense to rise 25 percent, due to increases in labor costs, insurance and shipyard repair and maintenance costs, while current rates for its offshore supply vessels and tugs and tank barges will remain constant. Source: Houston Chronicle
Hornbeck Offshore Presents
Hornbeck Offshore Services, Inc. (NYSE:HOS) announced that Todd M. Hornbeck, Chairman, President and Chief Executive Officer, and James O. Harp, Jr., Executive Vice President and Chief Financial Officer, will be participating in the Bank of America 2008 Energy Conference being held November 13-14, 2008 in Key Biscayne, Florida. The Company's presentation at the conference will be webcast live with an accompanying slideshow on Thursday, November 13, 2008 at 1:50 p.m. Eastern Time. To listen to the live audio webcast and to view Hornbeck's slideshow, visit the Company's website at http://www.hornbeckoffshore.com/. A replay of this webcast…
Hornbeck Offshore CEO to Ring NYSE Closing Bell
Hornbeck Offshore Services, Inc. Chairman, President and CEO Todd M. Hornbeck, will ring The Closing Bell at the New York Stock Exchange on Friday, September 30, 2005 at 4:00 p.m. Eastern time. This event marks the pricing of the company's recent public stock offering and private placement of 6.125% senior notes that will raise approximately $290 million in aggregate gross proceeds for the Company. These combined proceeds will fund, in part, two new vessel construction programs announced on Monday, September 26, 2005. Mr. Hornbeck stated, "Hornbeck Offshore is a proud member of the New York Stock Exchange and believes it enhances our ability to raise growth capital at the lowest possible cost."
Hornbeck Completes Sea Mar Fleet Acquisition
Hornbeck Offshore Services, Inc., has completed its previously announced acquisition of 20 offshore supply vessels (OSVs) and their related business from certain affiliates of Nabors Industries Ltd. for cash consideration of $186m, plus the cost of the fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-ft. DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The total estimated cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34m, of which $7.3m was paid to Nabors at closing. All of the vessels acquired by Hornbeck Offshore are U.S.
HOS Closes Sea Mar Fleet Acquisition
Hornbeck Offshore Services completed its acquisition of 20 offshore supply vessels and their related business from certain affiliates of Nabors Industries Ltd. for $186 million, plus the cost of the fuel inventory on the vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-foot DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The total estimated cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34.0 million, of which $7.3 million was paid to Nabors at closing. All of the vessels acquired by Hornbeck Offshore are U.S. flagged and qualify for U.S.
HOS Reports No Adverse Impact From Storms
Hornbeck Offshore Services, Inc. announced that it has experienced no lost revenue or damage to its vessels related to Hurricane Ivan that swept through the Gulf of Mexico or Tropical Storm Jeanne that passed through St. Croix and Puerto Rico last week. Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore supply vessels primarily in the U.S. Gulf of Mexico and select international markets, and is a leading transporter of petroleum products through its fleet of ocean-going tugs and tank barges primarily in the northeastern U.S. and in Puerto Rico. Hornbeck Offshore currently owns and operates a fleet of 55 vessels, with 5 additional vessels under construction.
Big Month for VT Halter’s Hornbeck OSV Series
VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc., announced four separate shipbuilding milestones for the Offshore Supply Vessel (OSV) Super 320 Program underway for Hornbeck Offshore Services, Inc. Firstly, VT Halter Marine delivered HOS Captain on July 10. Five days later, VT Halter Marine hosted the christening ceremony of HOS Crestview held at the Pascagoula facility and launched HOS Caledonia at the Halter Moss Point facility on July 15. Finally, delivery of HOS Clearview took place on July 28.
Hornbeck on Latest Drilling Moratorium
Hornbeck Offshore Services, Inc. (NYSE:HOS) is reviewing the Secretary of the Interior’s latest offshore drilling moratorium and has substantial concerns about its consistency with the June 22, 2010 order by U.S. District Judge Martin Feldman. Judge Feldman ruled in favor of Hornbeck Offshore’s action to block a six-month federal moratorium on deepwater drilling in the Gulf of Mexico. Subsequent challenges to the judge’s order by the federal government were denied, including last week’s ruling by the Fifth U.S. Circuit Court of Appeals.
Hornbeck Offshore to Commence Exchange Offer
Hornbeck Offshore Services, Inc. announced the commencement, on Friday, March 3, 2006, of its offer to exchange any and all of the $75,000,000 aggregate principal amount of its outstanding 6.125% Series A Senior Notes due 2014 (CUSIPs 440543 AC 0 and U44070 AB 3) (collectively, the "Old Notes"), which were sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933 (the "Act") for an equal aggregate principal amount of its 6.125% Series B Senior Notes due 2014 (CUSIP 440543 AB 2) (the "New Notes"). The issuance of the New Notes has been registered under the Act. Hornbeck Offshore will accept for exchange any and all Old Notes validly tendered and not validly withdrawn before the expiration time of 5:00 p.m.…
Bollinger Awarded Six OSV Conversions from Hornbeck
Bollinger Shipyards, Inc. has been awarded a contract by Hornbeck Offshore Services (HOS) to convert six (6) 200 class DP1 offshore supply vessels (OSV’s), to 240 class DP2 OSV’s. The announcement was made by Bollinger executive vice president, Ben Bordelon, who said, “We are very pleased to announce the award of the HOS Super 200 conversion program. The news of the conversion program was announced by HOS on September 4th 2012, saying they have decided to implement a retrofit program to stretch and upgrade six 200 class DP-1 OSVs into 240 class DP-2 OSV’s.
Hornbeck Offshore Acquires Five Deepwater OSVs
Hornbeck Offshore Services, Inc. has acquired five 220-ft. class deepwater offshore supply vessels and their related business from Candy Marine Investment Corporation, an affiliate of Candy Fleet Corporation,for an undisclosed amount of cash and common stock of the Company. Candy Fleet is a privately held marine vessel operator in the Gulf of Mexico. Hornbeck funded the cash portion of the purchase price with a combination of borrowings under the Company's revolving credit facility and proceeds from a private offering of the Company's common stock. In connection with such private offering, which was primarily undertaken to fund a portion of the acquisition costs…
Navy Sale Helps Hornbeck Earnings
Hornbeck Offshore Services completed the sale of three supply vessels to the U.S. Navy, helping boost profits in the first quarter even as low oil prices put pressure on revenues. In February, the Navy agreed to buy three supply boats from Hornbeck with an option to purchase a fourth. The Navy also agreed to contract Hornbeck to operate the boats. Together, the contracts are worth $132 million. For the first quarter Hornbeck Offshore Services reported revenue of $134.6 million.
HORNBECK-LEEVAC Changes Name
HORNBECK-LEEVAC Marine Services, Inc. announced that it has changed its name to Hornbeck Offshore Services, Inc. The new corporate name was approved at the company's recent annual meeting of stockholders. The name of the tug and tank barge owning subsidiary, LEEVAC Marine, LLC, has also been changed to Hornbeck Offshore Transportation, LLC. The name changes are effective immediately. Todd M. Hornbeck, President and CEO remarked, "These name changes will allow us to operate under a common identity across each of our operating divisions and facilitate the markets' identification with each of our services under one name and one logo.
Eastern Shipbuilding Deliver OSV, Launch Another
Eastern Shipbuilding Group, Inc. announced delivery of M/V HOS Red Dawn and the launch and christening of M/V HOS Renaissance, both vesssels for Hornbeck Offshore Services, LLC. Attending from Hornbeck was William “Bill” Krewsky, Director of Engineering and Project Management. He spoke about the long term commitment and partnership of both companies, the quality of workmanship, noting that “HOS Red Dawn has been delivered, several days early and on budget”. In addition, ten senior…
Hornbeck Offshore Exchange Offer
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced the commencement, on Monday, January 25, 2010, of its offer to exchange any and all of the $250m aggregate principal amount of its outstanding 8% Series A Senior Notes due 2017 (CUSIPs 440543 AF 3 and U44070 AC 1), which were issued in a private placement and sold in accordance with Rule 144A or Regulation S under the Securities Act of 1933, for an equal aggregate principal amount of its 8% Series B Senior Notes due 2017 (CUSIP 440543 AH 9). The issuance of the New Notes has been registered under the Act. The form and terms of the New Notes are substantially the same as the form and terms of the Old Notes issued in August 2009.
Vessels: HOS Bluewater Delivered by Leevac
On March 16, 2003, Hornbeck Offshore Services (HOS) took delivery of the HOS Bluewater from LEEVAC Industries LLC. The vessel was delivered to Hornbeck Offshore two weeks ahead of schedule and immediately began a term charter for an unnamed operator. The HOS Bluewater is the first of four deepwater OSV's that will be delivered to Hornbeck Offshore by year's end. Designed by and built for Hornbeck Offshore Services, LLC, the HOS BLUEWATER is the company's seventh DP-2 vessel. HOS Bluewater measures 240 x 54 x 19-ft. The latest of the HOS "New Breed" has been uniquely engineered to offer numerous advantages over existing tonnage. The unique hull form assists in making the Bluewater a very DP capable and fuel-efficient vessel.
Hornbeck Orders Multipurpose Offshore Construction Vessel
IHC Holland Merwede BV said that its subsidiary Merwede Shipyard received the contract for the design and construction of a multi purpose offshore support vessel for Hornbeck Offshore Services LLC from Covington in Louisiana United States. Merwede Shipyard was granted this order because of its ability to design and offer the vessel including the integration of cranes within the required short delivery time and for a fixed price. The vessel will be built under Yard No 717 and delivery will take place 3rd quarter 2009. Hornbeck Offshore Services plans to deploy the vessel in its primary operating market, the deepwater and ultra-deepwater Gulf of Mexico. While this foreign-built vessel cannot qualify for Jones Act trade, the company intends to U.S.-flag the vessel.
Hornbeck-Leevac Announces Expansion Of OSV Fleet
Hornbeck-Leevac Marine Services, Inc. has announced that its wholly owned subsidiary, Hornbeck Offshore Services, Inc., has begun a new vessel construction program to significantly increase the size of its seven-vessel, state-of-the-art offshore supply vessel (OSV) fleet. A contract has been signed with Leevac Shipyards to immediately begin construction of two ultra deepwater vessels with four to follow. The first vessel is expected to be delivered in February 2001. All vessels are expected to be completed within the next 20 months. During a presentation to shareholders, Christian Vaccari, Hornbeck-Leevac's Chief Executive Officer commented…