HORNBECK OFFSHORE TO ACQUIRE TEN HIGH-SPEC OFFSHORE SUPPLY VESSELS FROM CERTAIN AFFILIATES OF EDISON CHOUEST OFFSHORE

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Jan 11, 2022, 16:50 ET

COVINGTON, La., Jan. 11, 2022 /PRNewswire/ -- Hornbeck Offshore Services, Inc. ("Hornbeck Offshore" or the "Company") announced today that it has entered into definitive vessel purchase agreements with certain affiliates of Edison Chouest Offshore (the "Sellers") to acquire a total of ten high-spec new generation offshore supply vessels ("OSVs") for an undisclosed amount of cash. Eight of the vessels are U.S.-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of circa 4,750 DWT. The other two vessels are Mexican-flagged 240 class DP-2 OSVs with capacities of circa 3,200 DWT. Upon completion of regulatory drydockings to be conducted by the Sellers, the Company expects to take serial deliveries of all ten vessels over the next 12 to 15 months, with the first vessel expected to be delivered within the next 90 days.

Todd Hornbeck, the Company's President and Chief Executive Officer, commented, "We are very excited about this acquisition, which puts us on a path for growth for the benefit of our employees, oilfield and non-oilfield customers and other constituents. We appreciate the financial support of our capital providers that underwrote this endeavor. We look forward to executing our strategic plans for additional growth and business diversification initiatives in the future."

Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore service vessels to the energy industry primarily in the Gulf of Mexico and Latin America, as well as to the U.S. military and other non-oilfield customers.

Forward-Looking Statements

This news release contains forward-looking statements, including, in particular, statements about Hornbeck Offshore's plans and intentions, which are based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.

Contacts:
Todd Hornbeck, CEO
Jim Harp, CFO
Hornbeck Offshore Services
985-727-6802

Ken Dennard, Managing Partner
Dennard Lascar / 713-529-6600

SOURCE Hornbeck Offshore Services, Inc.