U.S. offshore vessel operator Hornbeck Offshore has inked a deal to acquire ten offshore supply vessels (OSVs) from affiliates of Edison Chouest Offshore in pursuit of further growth and diversification of its fleet and business.
Hornbeck Offshore Services reported on Tuesday that it had entered into definitive vessel purchase agreements with certain affiliates of Edison Chouest Offshore to acquire a total of ten high-spec new-generation OSVs for an undisclosed amount of cash.
Todd Hornbeck , Hornbeck Offshore President and Chief Executive Officer, remarked: “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 endeavour. We look forward to executing our strategic plans for additional growth and business diversification initiatives in the future.”
Based on the company’s statement, eight of the vessels are U.S.-flagged, Jones Act-qualified, 280 class DP-2 OSVs with capacities of circa 4,750 DWT, while the other two vessels are Mexican-flagged 240 class DP-2 OSVs with capacities of circa 3,200 DWT.
The firm expects to take serial deliveries of all ten vessels over the next 12 to 15 months, upon completion of regulatory drydockings to be conducted by the affiliates of Edison Chouest. The first vessel is expected to be delivered within the next 90 days.
Hornbeck Offshore provides OSVs 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.
To remind, the offshore vessel operator emerged from bankruptcy under its joint prepackaged Chapter 11 plan of reorganization back in September 2020. As part of the plan, a new board of directors was also appointed by the company.