Profile: Hornbeck Offshore Services Inc (HOS.N)
7 Mar 2014
Hornbeck Offshore Services, Inc., incorporated in 1997, is a provider of marine transportation services to exploration and production, oilfield service, offshore construction and United States military customers. The Company focuses on providing advanced marine solutions to meet the evolving needs of the deepwater and ultra-deepwater energy industry in domestic and foreign locations. The Company provides marine transportation through two business segments: Upstream segment and Downstream segment. Its Upstream segment owns and operates one of the youngest and largest fleets of United States flagged, new generation offshore supply vessel (OSVs) and Multi Purpose Supply Vessel (MPSVs). Its Downstream segment owns and operates a fleet of ocean-going tugs and double-hulled tank barges that transport petroleum products, primarily in the northeastern United States and the Gulf of Mexico.
The Company primarily operates new generation OSVs and MPSVs in the United States, Gulf of Mexico, other United States coastlines, Latin America and the Middle East and operates a shore-base facility in Port Fourchon, Louisiana through its Upstream segment. The OSVs, MPSVs and the shore-base facility principally support exploration and production projects by transporting cargo to offshore drilling rigs and production facilities and provide support for oilfield and non-oilfield specialty services, including military applications. The Downstream segment primarily operates ocean-going tugs and tank barges in the northeastern United States, the Gulf of Mexico, Great Lakes and Puerto Rico. The ocean-going tugs and tank barges provide coastwise transportation of refined and bunker grade petroleum products, as well as non-traditional downstream services, such as support of deepwater well testing and other specialty applications for the Company’s upstream customers.
OSVs primarily serve exploratory and developmental drilling rigs and production facilities and support offshore and subsea construction, installation, maintenance, repair and decommissioning activities. As of December 31, 2011, the Company owned a fleet of 51 OSVs and four MPSVs operating in Gulf of Mexico, Brazil and Mexico and in other select international regions. In addition to transporting deck cargo, such as pipe or drummed material and equipment, OSVs also transport liquid mud, potable and drilling water, diesel fuel, dry bulk cement and personnel between shore bases and offshore rigs and production facilities. As of December 31, 2011, the 25 of its Upstream vessels are deep positioning (DP) DP-1, 28 are DP-2 and two are DP-3. MPSVs also support the offshore exploration and production activities of the energy industry. MPSVs are principally used to support complex deepwater subsea construction, installation, intervention, IRM, decommissioning and other sophisticated operations. These vessels are or can be equipped with a variety of lifting and deployment systems, including repair other vessels (ROVs), large capacity cranes, winches or reel systems. MPSVs can serve as a platform for the subsea installation of risers, jumpers and umbilicals. MPSVs also support ROV operations, diving activities, oil spill response efforts, well intervention, including live well intervention, platform decommissioning, and other complex construction operations.Its MPSV program also includes the HOS Iron Horse, which is a newbuild MPSV that was constructed at IHC Holland’s Merwede Shipyard in the Netherlands. The HOS Iron Horse and HOS Achiever are 430 class DP-3 new generation MPSVs. DP-3 systems also include separate vessel compartments with fire-retardant walls for generators, prime movers, switchboards and most other DP components.
The domestic tank barge industry provides marine transportation of crude oil, petroleum products and petrochemicals by ocean-going tugs and tank barges. It offers marine transportation, distribution and logistics services primarily in the northeastern United States, Gulf of Mexico, Great Lakes and Puerto Rico with its active Downstream fleet of nine double-hulled tank barges and nine ocean-going tugs. The Company also owns six ocean-going tugs that are stacked. The Company provides its services to major integrated oil companies, independent refineries and oil traders. Generally, a tug and tank barge work together as a tow to transport refined or bunker grade petroleum products. Its tank barges carry petroleum products that are characterized as either clean or dirty. Clean products are primarily gasoline, home heating oil, diesel fuel and jet fuel. Dirty products are mainly crude oils, residual crudes and feedstocks, heavy fuel oils and asphalts.
Hornbeck Offshore Services Inc
Suite 300, 103 Northpark Bouleva
COVINGTON LA 70433