Sept 4 Oilfield services provider Hornbeck
Offshore Inc plans to build four vessels for about $180
million on expectations of higher demand in its core Gulf of
Mexico and Latin American markets.
The company, which provides offshore supply vessels (OSV) to
oil and gas companies, said it has exercised the first four of
its 48 options under a newbuild program announced in November.
The vessels, expected to be delivered in late 2014 and early
2015, will be employed to meet the expected increase in
deepwater and ultradeepwater drilling in Gulf of Mexico, Brazil
and Mexico, Hornbeck said.
The company also plans to spend $50 million to increase the
capacity of six OSVs built in 1999-2000.
Offshore drillers such as Diamond Offshore Drilling Inc
are opting for converting unused rigs into new units to
Hornbeck shares closed at $40.72 on Friday on the New York