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“The best bloodlines always produce winners, and in the hands of the right people, champions emerge. In the energy industry’s marine transportation and service segment, that champion is Hornbeck Offshore. Our strategy, vessels and people are the things that set us apart.”
We are a leading provider of marine transportation services to exploration and production, oilfield service, offshore construction and military customers. Since our establishment, we have primarily focused on providing innovative, technologically advanced marine solutions to meet the evolving needs of the deepwater and ultra-deepwater energy industry in domestic and, more recently, foreign locations. Throughout our history, we have expanded our fleet of vessels primarily through a series of new vessel construction programs, as well as through acquisitions of existing vessels.
Our mission is to be recognized as the energy industry’s marine transportation and service company of choice for our customers, employees and investors through innovative, high-quality, value-added business solutions delivered with enthusiasm, integrity and professionalism with the utmost regard for the safety of individuals and the protection of the environment.
At Hornbeck Offshore, we never forget that we operate in a service industry, which is why we are so focused on meeting the needs of our customers. Everything we do, from developing leading-edge technologies for our fleets to hiring the best people in the business, is driven by our goal of being the company of choice for the industry. In doing so, we apply lessons we have learned in the past to the challenges of the future. We will continue to execute the strategies that propelled us to success in the past, thereby ensuring that our customers, employees and investors remain in the “winner’s circle.”
While our CEO co-founded Hornbeck Offshore in June 1997, in a very real sense, nearly every one of our key officers and managers has been a “founder” within their own functional areas of expertise. Just as we have built our fleet one vessel at a time, we have built our team one person at a time.
As an example, shortly after founding the Company, our CEO invited our current COO, who has a unique background in naval architecture and international vessel operations, to join him. Together, they set out to design and build a “new breed” of deepwater-capable OSVs to exploit the then-emerging market for such vessels. They also recognized that they would need to develop the “next generation” of mariners and managers capable of operating these highly sophisticated new vessels.
Over the years, they have been instrumental in assembling the team that operates our growing fleet of vessels, and that is currently overseeing nearly $1.3 billion of vessel newbuild programs currently underway here at Hornbeck Offshore. Our technical team is comprised of individuals with extensive experience designing and constructing marine equipment all over the world, with backgrounds in such diverse fields as naval architecture, engineering, shipbuilding and repair, project management, military service and maritime academy training.
In the fall of 2000, on the heels of a major private equity offering to fund our second OSV newbuild program, Hornbeck Offshore began the process of augmenting our team’s skill sets with the various support disciplines that would be necessary to thrive as a publicly traded company. To round out the rest of our executive team, we looked first to professionals that had advised us in the past that we knew first-hand met our standards of character, chemistry, credentials and competence. We then hand-selected our CFO, CIO and General Counsel — each with their own unique blend of skill sets and attributes — to join us as “founders” of their respective departments – accounting, finance, legal, and information systems.
Today, we are well equipped to handle the increased demands on public companies in this post-Sarbanes-Oxley world. Our back-office management team is comprised of individuals with many years of experience in such diverse fields as Big Four public accounting, international tax consulting, investment banking, the private practice of law, business and information systems consulting and, of course, the oilfield marine transportation and service industry.
So, whether they captain or engineer one of our vessels or manage one of our many shore-based support functions — such as operations, business development, safety, engineering, construction, maintenance, risk management, human resources, purchasing, accounting, finance, investor relations, legal or IT — we believe that we have assembled a team that is second to none in our industry. In short, we are a team made up of like-minded individuals who have each been invited to play a major role in building a state-of-the-art Company from the keel up.
Hornbeck Offshore is known for having one of the youngest fleets of new generation OSVs in the industry, as well as the youngest management team. With an average of 27 years of experience in the marine transportation and service industry, our senior management team has demonstrated a clear vision for knowing what it takes to succeed in this business and then setting a course for others to follow. All of our management systems, as well as our compensation philosophy, are designed to foster an “ownership” mentality among our employees. This approach has consistently resulted in growth rates, margins and financial returns well above our industry-peer averages. Together, we have developed an entrepreneurial culture that pervades every aspect of our operations with an unprecedented level of energy and enthusiasm.
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