September 3, 2008
Hornbeck Offshore vessels unharmed by Gustav
Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that, based on first reports from the field, it has experienced no damage to any of its vessels as a result of Hurricane Gustav -- including those currently under construction in Gulf of Mexico shipyards. The company's new generation offshore supply vessel fleet continues to operate at pre-storm levels of 100% utilization. Hornbeck Offshore says it remains in position to assist its GoM customers as they begin to assess storm damage and commence their recovery and repair efforts.
Preliminary assessments indicate that no damage has occurred to the company's corporate headquarters in Covington, La. However, Hornbeck Offshore says it has not been able to assess conditions at its HOS Port facility located in Port Fourchon. Preliminary reports are that the Port Fourchon area has sustained minor damage and the port authority will begin minimal operations in the next couple of days.
Todd M. Hornbeck, Chairman, President and CEO commented, "Hornbeck employees rose to the occasion and successfully implemented our business continuity plan to ensure uninterrupted operations of all essential business and communications systems. Our executive team mobilized to the Houston area this past weekend and promptly established daily communications with a multi-disciplinary shore-side management team of 'first responders' who were stationed in Dallas and Covington."
Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore supply vessels primarily in the U.S. Gulf of Mexico and other select U.S. and international markets, and is a leading short-haul transporter of petroleum products through its coastwise fleet of ocean-going tugs and tank barges primarily in the northeastern U.S., the U.S. Gulf of Mexico, the Great Lakes and in Puerto Rico. Hornbeck Offshore currently owns a fleet of over 80 vessels primarily serving the energy industry.