The Company, through its subsidiaries, operates offshore supply vessels to provide logistics support and specialty services to the offshore oil and gas exploration and production industry, primarily in the U.S. GoM & select international markets.
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Hornbeck is positioned heavily in the platform supply vessel industry with many of their new vessels set up for deep water and ultra deep platform supply. The average age of their fleet is very young. As the cost per barrel of crude increases so does the profitability of offshore and deep offshore oil and gas extraction.Look for a spinoff of their tank tug and barge unit that will add cash to their coffers.