HORNBECK OFFSHORE ANNOUNCES U.S. NAVY MENTOR PROTÉGÉ AGREEMENT WITH NEXT GENERATION LOGISTICS, LLC

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Jul 29, 2024, 12:26 ET

COVINGTON, La., July 29, 2024 /PRNewswire/ -- Hornbeck Offshore Services, Inc. ("Hornbeck Offshore" or the "Company") announced today that the United States Department of the Navy Office of Small Business Programs recently approved a Mentor Protégé Agreement between the Company and Next Generation Logistics, LLC ("NGL").

Celebrating their new Department of U.S. Navy Mentor Protégé Agreement in Hornbeck Offshore’s new state-of-the-art Dynamic Positioning Simulator are Hornbeck Offshore President and CEO, Todd Hornbeck, left; and NGL CEO and Founder, Eddie Compass IV.

Celebrating the new Department of U.S. Navy Mentor Protégé Agreement between Hornbeck Offshore Services and Next Generation Logistics, are from left, Hornbeck Offshore team members: Jacob Hornbeck, shipyard representative; Michael Nicaud, vice president and associate general counsel; Carl Annessa, executive vice president of military, engineering & maintenance; and Todd Hornbeck, president and CEO; Eddie Compass IV, NGL CEO and founder; Eddie Compass V; and Eric Hill, business development representative at Hornbeck Offshore.

Small businesses, including Veteran/Service-Disabled Veteran-Owned small businesses, Historically Underutilized Business Zone small businesses, Small Disadvantaged Businesses, and Women-Owned Small Business concerns, are a vital part of our economy and help to keep the United States the strongest country in the world. The Mentor Protégé Program helps small businesses like NGL expand their footprint in the defense industrial base through the development of technical capabilities and mentoring.

NGL is headquartered in New Orleans, Louisiana, and is the only firm certified under the U.S. Small Business Administration's 8(a) program that operates and delivers a wide array of solutions and services in the marine transportation industry among federal, state and local agencies. Through the Mentor Protégé Program, the Hornbeck Offshore will continue to work with NGL to provide tailored solutions in support of the United States Government.

Todd Hornbeck, the Company's President and Chief Executive Officer, commented, "Although our connection with NGL began many years ago, we are very pleased that the Government has formally approved this relationship. We look forward to the opportunities that this program will provide NGL through the leadership of Captain Eddie Compass and we will continue to explore additional ways for our Company to support NGL and the Navy."

Eddie Compass IV, the Chief Executive Officer and founder of NGL stated, "The Mentor Protégé Agreement will fundamentally change the way that NGL can do business. Our relationship with Hornbeck Offshore has allowed us to now service the Navy both domestically and internationally in a way that is a win for NGL and a win for our country. I want to personally thank the Navy, Todd Hornbeck, and his entire team for supporting NGL over the years. We look forward to our collective success in the future."

Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, high specification offshore service vessels to the energy industry primarily in the Gulf of Mexico and Latin America, as well as to the U.S. government, offshore wind and other non-oilfield customers.

Forward-Looking Statements

This news release contains forward-looking statements, including, in particular, statements about Hornbeck Offshore's plans and intentions, which are based on the Company's current assumptions, expectations and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct.