HORIZON OFFSHORE INC

HORIZON OFFSHORE INC

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Company Overview
Horizon Offshore Inc. provides marine construction services to the offshore oil and gas industry in the U.S. Gulf of Mexico, West Africa, Southeast Asia and Latin America. The company’s fleet is used to perform a wide range of marine construction activities, including installation of marine pipelines to transport oil and gas and other subsea production systems, and the installation and disassembling of production platforms. Started in 1996, the company’s corporate headquarters is located in Houston, Texas in the United States of America.
Since it started, Horizon Offshore has been dedicated to assembling a premier fleet of vessels to service the offshore oil and gas industry. The company owns and operates a fleet of nine vessels, which provide a full range of pipelay and heavy lift services in varying water depths in the Gulf of Mexico and selected international markets. The company operates four pipelay/pipebury vessels, a dedicated pipebury barge, two derrick barges for platform installation and abandonment, one pipelay/derrick combination barge, and one dive support vessel.
Horizon’s derrick services include installation and removal of offshore platforms and topsides, drilling rigs modules, and other equipment. The company utilizes three vessels for derrick services: Sea Horizon, which has a 1,200 ton lift capacity and is capable of laying 36 inch coated pipeline; Pacific Horizon, which has a 1,000 ton lift capacity; and Atlantic Horizon, which has a 500 ton lift capacity.
Horizon’s pipelay services include conventional ‘S’ lay, and reeled pipelay capabilities. Its pipelay vessels specifications include: American Horizon, a shallow water combination pipelay/pipebury vessel capable of laying up to 24 inch coated pipe in up to 250 feet of water depth; Brazos Horizon, a pipelay/pipebury combination barge with capabilities of laying 24 inch coated pipe and multilay capabilities; Pecos Horizon, a combination pipelay/pipebury barge capable of laying up to 24 inch pipe in water depths up to 500 feet; and Lone Star Horizon, which is capable of laying 39 coated pipe and simultaneous pipelay/pipeburial operation in water depths of 850 feet.
In pipebury services, the Canyon Horizon is Horizon’s premier dedicated bury barge. The Canyon Horizon is able to bury up to 60 inch pipe and can trench to 25 feet below the sea floor. The Horizon Pipeline Trenching System (HPTS) is comprised of its towed trenching plow that is deployed from its construction vessel. It also is equipped to carry out subsequent backfill operations by reconfiguring the parts. Pipe burial services are provided by a number of other Horizon vessels with the addition of interchangeable pipebury equipment, including self-propelled jetting equipment.
Its drive and support services, Texas Horizon, is a dynamically positioned multi-purpose support vessel capable of supporting various offshore applications including reeled pipelay, surface and saturation diving, remote operated vehicles, pigging, testing, well abandonment.
Horizon’s mission is to pursue operational excellence while maintaining the highest regard for the management of health, safety and environment (HSE) and quality. In all aspects of its work, the company provides high quality, industry recognized marine construction services throughout the world. The company also has offices in Mexico, Nigeria, Angola, Singapore, and Indonesia.
Business Summary
Horizon Offshore, Inc. (Horizon), together with its subsidiaries, provides marine construction services for the offshore oil and gas, and energy industries. During the year ended December 31, 2006, the Company provided marine construction services in the United States Gulf of Mexico, Latin America, Southeast Asia/Mediterranean and West Africa. Horizon’s primary services include laying, burying or repairing marine pipelines; providing hook-up and commissioning services; installing offshore production platforms and other structures, and disassembling and salvaging offshore production platforms and other structures. In 2006, Horizon provided offshore marine construction services to approximately 35 customers. Its customers consist of national oil companies, major and independent oil and gas companies, energy companies and their affiliates. In December 2007, Cal Dive International, Inc. completed the acquisition of Horizon.
Description and history
Horizon Offshore, Inc. (Horizon), incorporated on December 19, 1995, together with its subsidiaries, provides marine construction services for the offshore oil and gas, and energy industries. During the year ended December 31, 2006, the Company provided marine construction services in the United States Gulf of Mexico, Latin America, Southeast Asia/Mediterranean and West Africa. Horizon’s primary services include laying, burying or repairing marine pipelines; providing hook-up and commissioning services; installing offshore production platforms and other structures, and disassembling and salvaging offshore production platforms and other structures. In 2006, Horizon provided offshore marine construction services to approximately 35 customers. Its customers consist of national oil companies, major and independent oil and gas companies, energy companies and their affiliates. In December 2007, Cal Dive International, Inc. completed the acquisition of Horizon.

The Company’s marine fleet has a range of capabilities, and performs construction projects, primarily in water depths up to 1,000 feet. Its fleet consists of nine operational vessels, which are American Horizon, Lone Star Horizon, Brazos Horizon, Pecos Horizon, Canyon Horizon, Atlantic Horizon, Pacific Horizon, Sea Horizon and Texas Horizon. Horizon acquired Texas Horizon in February 2006. American Horizon, Lone Star Horizon, Brazos Horizon and Pecos Horizon are pipelay and pipebury vessels, which are able to install, bury and repair pipelines with an outside diameter (including concrete coating) of up to 39 inches. These vessels employ conventional S-lay technology that is suitable for operating on the United States continental shelf and the international areas, where the Company operates.

For larger pipe burying projects or where deeper trenching is required, the Company uses the Canyon Horizon, its bury barge. Horizon matches its burying approach to the requirements of each specific contract by using the Canyon Horizon for larger projects, and its towed jet sleds behind pipelay barges for smaller projects. The Company also installs and removes or salvages offshore fixed platforms. It operates two derrick barges equipped with cranes designed to lift and place platforms, structures or equipment into position for installation. In addition, they are used to disassemble and remove platforms and prepare them for salvage or refurbishment. The Pacific Horizon has a lift capacity of 1,000 tons, and the Atlantic Horizon has a 550-ton lift capacity.

The Sea Horizon, the Company’s 360-foot long and 100-foot wide combination vessel that has both pipelay and derrick capabilities, is utilized to install up to 36-inch diameter pipe. The Sea Horizon is also utilized to install and remove offshore fixed platforms and has a lift capacity of 1,200 tons. The Texas Horizon is a dynamically positioned data processing technician second class (DP 2) deepwater construction and pipelay vessel. It is capable of providing diving and remotely operated vessel (ROV) support, as well as installing small diameter rigid pipe, flexible pipe, coiled tubing and umbilicals in deep water. The Company’s contracts in the United States Gulf of Mexico are typically of short duration, being completed in periods as brief as several days to periods of up to several months for projects involving its larger pipelay vessels. International construction projects typically have longer lead times and extended job durations. Horizon owns all of its vessels.

Horizon competes with Global Industries, Ltd., Helix Energy Solutions Group, Inc., Chet Morrison Contractors, Inc., Bisso Marine Co., Diamond Services, Corp., Offshore Specialty Fabricators, Inc., TETRA Technologies, Inc., Manson Gulf L.L.C., J. Ray McDermott, S.A., Protexa S.A. de C.V. and Oceanografia S.A. de C.V.

Business Line
Provides marine construction services
Subsidiary
HORIZON MARINE CONSTRUCTION LTD
Advisor
GRANT THORNTON LLP
IPO date
4/2/1998
US SIC Code
3533
Company Address
Suite 2200
2500, Citywest Boulevard
City province or state postal code
77042, HOUSTON, TX
Phone: +1 713 361 2600
Fax: +1 713 361 2690
Country address: UNITED STATES OF AMERICA
Website url: www.horizonoffshore.com

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