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BUSINESS SUMMARY: Hornbeck Offshore Services, Inc., through its subsidiaries, operates offshore supply vessels (OSVs), multi-purpose support vessels, and a shore-base to provide logistics support and specialty services to the offshore oil and gas exploration and production industry. It operates in two segments, Upstream and Downstream.
The Upstream segment owns and operates fleets of the U.S.-flagged, new generation OSVs, which support deepwater and ultra-deepwater exploration, development, production, construction, installation, maintenance, repair, and enhanced oil recovery requirements of the oil and gas industry primarily in the U.S. Gulf of Mexico, as well as in the international markets. This segment also owns conventional OSVs, work class ROVs and a shore-base facility located in Port Fourchon, Louisiana. In addition, the segment provides vessel management services for other vessels owners, which comprise crewing, daily operational management and maintenance activities.
The Downstream segment owns and operates a fleet of ocean-going tugs and tank barges that transport petroleum products, primarily in the northeastern United States, the Gulf of Mexico, the Great Lakes, and Puerto Rico. These tugs and tank barges provide coastwise transportation of refined and bunker grade petroleum products, as well as offer other services, including the support of deepwater well testing and other applications for refining, marketing, and trading companies. As of December 31, 2008, Hornbeck Offshore Services owned and operated a fleet of 39 new generation OSVs and 6 conventional OSVs, and 17 ocean-going tugs. The company was founded in 1997 and is headquartered in Covington, Louisiana.