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Hornbeck Offshore Acquires Six More Jones Act OSVs from Edison Chouest Offshore

Stock Photo: Danial Abdullah / Shutterstock.com

Hornbeck Offshore Acquires Six More Jones Act OSVs from Edison Chouest Offshore

Mike Schuler
Total Views: 2609
February 28, 2023

Offshore service vessel supplier Hornbeck Offshore Services (HOS) has entered into a definitive purchase agreement with an affiliate of Edison Chouest Offshore (ECO) to acquire six Jones Act-compliant offshore supply vessels.

The six high-spec new generation vessels will be purchased in cash from Nautical Solutions, L.L.C. for an undisclosed amount. The 280 class DP-2 OSVs are U.S.-flagged and Jones Act-qualified with capacities of circa 4,750 DWT.

Based on certain conditions, HOS anticipates taking deliveries of all six vessels over the next 12 to 15 months.

HOS previously entered into an agreement with ECO in January 2022 to acquire ten high-spec new generation OSVs. The vessels included eight U.S.-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of circa 4,750 DWT and two vessels Mexican-flagged 240 class DP-2 OSVs with capacities of circa 3,200 DWT.

“We are very excited about this additional acquisition, which continues our growth strategy for the benefit of our employees, oilfield and non-oilfield customers and other constituents,” said Todd Hornbeck, President and Chief Executive Officer of HOS. “We continue to explore our strategic plans for additional growth and business diversification initiatives as we look to the future.”

Hornbeck Offshore Services provides offshore service vessels to the energy industry, primarily in the Gulf of Mexico and Latin America, as well as to the U.S. military, offshore wind and other non-oilfield customers.

HOS emerged from Chapter 11 bankruptcy in September 2020 after reorganizing according to a pre-packaged restructuring plan with lenders that resulted in a $100 million cash infusion.

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