Hornbeck Offshore Services

Hornbeck Offshore Services, sometimes shortened to Hornbeck Offshore, through its subsidiaries, operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-base facility to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the United States, Gulf of Mexico, and select international markets. The company is a provider of marine services to exploration and production, oilfield service, offshore construction and military customers. Its upstream segment owns and operates fleets of United States flagged, new generation OSVs and United States-owned fleets of DP-2 and DP-3 MPSVs.

Hornbeck Offshore Services, Inc.
TypePublic
NYSE: HOS
Russell Microcap Index component
FoundedJune 1997 
FounderLarry Hornbeck
Todd M. Hornbeck 
Websitehornbeckoffshore.com

The company recently sold its fleet of ocean-going tugs and product barges to Genesis Energy. The company will continue to focus on its core business of operating a modern fleet of OSVs primarily in the US Gulf of Mexico.

HOS recently announced newbuild program #5, which consists of a total of sixteen high-technology, new-generation OSV's. HOS has the option for additional such vessels should future market conditions warrant. The shipyards VT Halter Marine, Inc of Pascagoula, Mississippi and Eastern Shipbuilding of Panama City, Florida have been separately contracted to build the vessels.

In December 2019, Hornbeck was featured on an episode of The Indicator from Planet Money, where the hosts buy some high-yield bonds issued by Hornbeck,[1] nicknaming the bond "Becky with the Good Yield".

On 20 December 2019, Hornbeck was de-listed from the NYSE.[2]

On May 19, 2020, Hornbeck Offshore Services filed for Chapter 11 bankruptcy. They have more than $1.2 billion in debt on the books, with the largest unsecured creditor being Wilmington Trust National Association, which is owed $675 million plus interest.[3]

See also

References
  1. "We Buy A Junk Bond!". The Indicator from Planet Money. 19 December 2019. Retrieved 21 February 2020.
  2. "Hornbeck Offshore Delisted from NYSE". Marine Link. 27 December 2019. Retrieved 21 February 2020.
  3. "Hornbeck Offshore files for Chapter 11 bankruptcy; owes businesses in Louisiana $2.3 million". The Advocate. 2020-05-19. Retrieved 2020-05-24.
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