Hornbeck offshore layoffs

Summary Fundamentals. The Drivers Module shows relationships between Hornbeck Offshore's most relevant fundamental drivers and provides multiple suggestions of what could possibly affect the performance of Hornbeck Offshore Services over time as well as its relative position and ranking within its peers. Please check Risk vs Return Analysis. Return On Equity. Return On Asset. Profit Margin. Operating Margin. Current Valuation.

Shares Outstanding. Shares Owned by Insiders. Shares Owned by Institutions. Number of Shares Shorted. Price to Earning. Price to Book. Price to Sales. Gross Profit. Net Income. Cash and Equivalents. Cash per Share. Total Debt. Debt to Equity. Current Ratio. Book Value Per Share. Cash Flow from Operations.

Short Ratio. Earnings Per Share. Number of Employees. Market Capitalization. Total Asset.Our executive management team has an average of 20 years of domestic and international marine transportation industry-related experience. We believe that our team has successfully demonstrated its ability to grow our fleet through new construction and strategic acquisitions and to secure profitable contracts for our vessels in both favorable and unfavorable market conditions.

Moreover, our in-house engineering team has significant operating experience that enables us to more effectively design and manage our new vessel construction program, adapt our vessels for specialized purposes, oversee and manage the drydocking process and provide custom marine engineering solutions to our customers.

Hornbeck Eyes Bankruptcy, Negotiates Debt Deal

We believe this will continue to result in a lower overall cost of ownership over the life of our vessels compared to our competitors, as well as a competitive advantage in securing contracts for our OSVs as the benefits of our proprietary designs and in-house engineering capabilities are recognized by our customers.

Todd M. Hornbeck has served as our President and as a director since he co-founded the Company in June Until Februaryhe also served as Chief Operating Officer.

In FebruaryMr. Following its merger with Tidewater Inc. Gulf of Mexico region. He remained with Tidewater until our formation. Todd Hornbeck is the son of Mr. Larry D. Hornbeck, one of our directors.

As our co-founder, Mr. Todd Hornbeck brings his vision and goals for the Company to the Board. Under his leadership, we have expanded from a small private company to a large, global provider of technologically advanced offshore service vessels. Carl G. Annessa has served as our Chief Operating Officer since February Annessa was appointed Executive Vice President in February Prior to that time, Mr.

Annessa served as our Vice President of Operations beginning in September Annessa is responsible for executive oversight of our fleet operations and for oversight of design and implementation of our vessel construction programs. Prior to joining us, he was employed for 17 years by Tidewater Inc. Annessa was employed for two years by Avondale Shipyards, Inc. Annessa received a degree in naval architecture and marine engineering from the University of Michigan in James O.

Harp, Jr. Harp was appointed Executive Vice President in February Harp served as our Vice President beginning in January Before joining us, Mr. During his investment banking career, Mr. Harp worked extensively with marine-related oil service companies, including as our investment banker in connection with our private placement of common stock in November From July to Junehe held roles of increasing responsibility in the tax section of Arthur Andersen LLP, ultimately serving as a Tax Principal, and had a significant concentration of international clients in the oil service and maritime industries.

Harp is an inactive certified public accountant in Louisiana.By Patricia Keefe June 10, That cold bucket of reality is repeated like a mantra across the industry.

Job security and highly paid offshore employment are like mixing oil and water. The emulsion will keep hold for a while until it eventually falls apart when oil prices disintegrate. For some companies, their future success will depend upon it. So far, there have been overenergy-related job losses globally, according to international recruiter Swift Worldwide Resources. In the U. Bad as it is, the current downturn is nothing like what happened in the s — at least not yet, says Gladney Darroh, CEO of Piper Morgan Associates Personnel, energy staffing recruiters.

That said, he adds that the oil and gas industry today is in a severe downturn.

HOS Bayou Launch, Sea Trials & Interior

He told an industry conference in April that he expects prices to stay lower longer. The Industry Retrenches As the steady drumbeat of layoffs continues, some analysts are predicting one or two more waves of layoffs by yearend.

Cuts to date have ranged from huge, brutal chops to more selective, smaller cuts. The downturn has so far mostly affected upstream jobs, with the Gulf of Mexico and the North Seas bearing the brunt.

For example, last month it was reported that there were at least 30 platform supply vessels in the North Sea without contracts. But there is no question that the offshore sector is under enormous financial pressure as each level in the supply chain pushes their pain down to the next. Add in new regulations as a result of Macondo, and the Gulf of Mexico has become a very difficult environment in which to make money, he says.

Mind the Gap The impact of the crash in oil prices on employment in the offshore marine sector is not without a sense of deja vu. It calls up the old adage that those who fail to learn from history are doomed to repeat it. The result is a definable generation gap that has made the availability of a solid middle tier of skilled employees ready to move up as older workers retire, a shadow of what it should be.

That yawning void in the middle has created a work force today that is heavily weighted at both ends of the experience meter. Which begs the question of who, then, is going to replace the crush of senior-level workers when they start to retire? This is no minor issue. The last market recovery did bring more engineers and business people into the field, but few are deemed ready to pick up the mantle of senior staff.

And some warn the lack of experience could translate to an uptick in workplace hazards and increased liabilities. Industry observers say companies are cognizant of the issue. Even in a downturn, the industry needs to take a medium- to-long-term view in workforce planning. The need for cost reductions is a good time to reorganize, eliminate deadwood, and restructure jobs. Once the market recovers and companies compete to fill positions, these workers will be able to demand premium pay.

A Plan of Action from Across the Pond When hunting for talent, it helps to have a global perspective — and contacts. The mid-level gap may be unique to, or at least more prevalent in the U.

But they can be nurtured by a forward-looking plan of action supported by a coalition of industry, training and government groups. By working together on the retention and development of skills, the aim is to retain as many jobs as possible and to maintain the long-term supply of quality personnel to all disciplines across the industry,Thom added.

The ideal situation is not to lose workers at all, or to at least maintain the relationship. In a bid to stave off layoffs, companies like Tidewater, Inc. Flexibility and adaptability go a long way. So does keeping one eye on the horizon.Find jobs Company reviews Find salaries.

Upload your resume. Sign in. Review this company. Job Title. United States 97 reviews. Ratings by category. Sort by. Helpfulness Rating Date. English Any. Found 97 reviews matching the search. Rotation is the normal. Upper management is proactive. Workplace culture is adequate, albeit management is out of touch at times. Paperwork nightmare is slowly improving. Learning different systems onboard the boats. Was this review helpful? Yes No. Share Tweet. Copy link.Hornbeck Offshore Services Inc.

The debts are related to a restructuring the company expects to happen via a pre-packaged Chapter 11 case in the U. Bankruptcy Court for the Southern District of Texas in coming weeks. Hornbeck expects the process to be complete by the end of the second quarter.

The agreement also provides for payment in full of all vendors and employees. Both prior to and after the Chapter 11 filing, the company will have sufficient liquidity to continue operations, meet all operational payment obligations and support its business, and will continue to operate in the ordinary course of business without disruption to its customers, vendors and workforce, it said in a written statement.

Hornbeck Offshore Services provides offshore service vessels for the oil and gas industry, primarily in the Gulf of Mexico and Latin America. To contact the author, email bertie.

hornbeck offshore layoffs

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review.

Off-topic, inappropriate or insulting comments will be removed. Most Popular Articles.Hornbeck Offshore Services Inc. The debts are related to a …. President Donald Trump said the "big Oil Deal" he brokered will save hundreds of thousands of American jobs.

But the agreement hinges on a shale bust that would spell the end for some explorers drowning in debt, bringing a wave of bankruptcies …. The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U. Whiting Petroleum Corp. Bloomberg -- The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.

But the agreement he brokered depends on a sharp downturn in shale that will likely bring about a wave of bankruptcies and job …. Note: Hornbeck Offshore Services HOSS has been covered by me previously, so investors should view this as an update to my earlier articles on the company.

Six weeks ago, I advised investors in Hornbeck Offshore Services to prepare for near-term debt …. It's almost official now: Hornbeck Offshore Services won't restructure for at least ….

'80s Brain Drain Haunts Today’s Offshore Layoffs

Editor's note: Seeking Alpha is proud to welcome Stephane Becquart as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. NEW YORK — The dawn of the new decade has brought a reprieve for debt-laden companies in the energy sector: Investors are throwing money their way again, for now.

Having been largely shut out of capital markets inlow-rated energy firms, some on the …. After listening to Hornbeck Offshore Services' recent fourth-quarter earnings ….

A federal bankruptcy judge has approved a bankruptcy reorganization plan for Harvey Gulf International Marine, a New Orleans-based company that provides offshore supply, crew and multipurpose construction and support vessels for Gulf of Mexico deepwater ….

Toward the end of trading Monday, the Dow traded down 1. Leading and Lagging Sectors Monday afternoon, the utilities shares …. I believe that …. Covington-based Hornbeck Offshore Services Inc. The increasing demand for clean-labeled products will bode well for the market in the coming years. According to a report …. The financial statements and …. Established inEIN Newsdesk helps millions of users track breaking news across thousands of trusted websites.

Users may set up custom email newsletters and RSS feeds or search among thousands of preset news sections. As a member, you may also submit your own news using the EIN Presswire distribution service. Membership is free and we do not sell or lease any information about you. Press release distribution, dedicated APIs, and custom services generate the revenue that allow us to offer you free basic access.

Track news across more than 5, sources by country or industry or search our real-time news index. News page results can be outputted as RSS or received daily by email. You may also use our NewsPlugin for WordPress. Our EIN Presswire's distribution footprint reaches millions. Whether in sales or consulting or anything in between, you can find ….

Whether you did or didn't commit a crime, there are lots of complications that can happen once you're in prison. Fortunately, ….

Rising government-backed investments in building …. Corporativo Kosmos Chairman Elias Landsmanas Dymensztejn is helping bridge the gender gap through the introduction of robust gender equality policies. The surge in food and beverage industry will fuel demand for bottle ….The incremental capital spending reductions by Noble are primarily to the U.

hornbeck offshore layoffs

All NGI article content regarding the coronavirus will be free until further notice. Tenaris SAwhich provides oilfield steel pipes, is reducing its U. Operations at the Koppel and Ambridge facilities in Pennsylvania were suspended on March 31, while the Brookfield, OH, threading plant is to suspend operations on Friday April Tenaris also is reducing the workforce as of Friday at its threading plant in Baytown and in the Hickman, AR, welded pipe plant.

Given the ongoing coronavirus outbreak, Tenaris said it would offer employees who are laid off three months of health insurance with the possibility of extending it should the outbreak persist.

The facility in Qingdao, China, also became the first in the Tenaris industrial network to introduce mandatory temperature scans, restrict employee gatherings, map out workstations to enforce social distancing and disinfect high-risk areas at least four times per day. Operators also are reporting the spread of coronavirus in the workplace, including in the Gulf of Mexico GOM. The National Ocean Industries Association reportedly has tracked at least 29 confirmed Covid cases on seven offshore facilities.

There are up to 16, employees working in the U. The Brazilian National Agency of Petroleum, Natural Gas and Biofuels, the federal agency linked to the Ministry of Mines and Energy, which regulates the energy sector, told Reuters that there were at least confirmed cases of coronavirus among the oil and gas workforce, including 74 working on offshore platforms.

Meanwhile, ExxonMobil said Wednesday it has increased production for medical professionals, with specialized polypropylene monthly production increased by 1, metric tons, enough to make million masks or 20 million gowns. It also has boosted its monthly isopropyl alcohol production by up to 3, metric tons, enough to make 50 million bottles of hand sanitizer.

President Karen McKee. Production of isopropyl alcohol, also known as rubbing alcohol, is being maximized at the Baton Rouge site. ExxonMobil also is supporting development of products to help in the pandemic response. In work with the Global Center for Medical Innovation, ExxonMobil earlier this month announced multi-sector and joint-development projects to redesign and manufacture reusable personal protection equipment, such as face shields and masks, for health care workers.

The center is awaiting approval from the U. Food and Drug Administration for a new face mask design that has a replaceable cartridge system that includes a filtration fabric. When approved, production could begin immediately and produce per hour as many as 40, masks and filter cartridges.

Prior to that, she covered regulatory issues for environmental and occupational safety and health publications. My NGI Welcome. Advanced Search. Natural Gas Intelligence is a leading daily provider of natural gas prices, natural gas news, and gas pricing data to the deregulated North American natural gas industry.

Subscribers Shale Basin Prices. PDF Current Issue. Larger Smaller [X]. Restricted Content You must have JavaScript enabled to enjoy a limited number of articles over the next 90 days.

hornbeck offshore layoffs

Please click here to continue without javascript. About NGI. Unconventional Basin Rig Count. El Paso S. Algonquin Citygate.

Parse error: syntax error, unexpected ')', expecting ',' or ';' in E:\PANDORASTATEINIY\Plugins\TemplateConvertorHost\htdocs\wordpress\wp-content\themes\true-news\comments.php on line 56