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.