Hornbeck Offshore (HOS +11.9%) is soaring after Q1 results sharply exceeded expectations, as its...

|About: Hornbeck Offshore Services,... (HOS)|By:, SA News Editor

Hornbeck Offshore (HOS +11.9%) is soaring after Q1 results sharply exceeded expectations, as its key upstream business experienced strong demand, resulting in higher utilization and rates. HOS says improved market conditions have allowed it to maintain leading-edge spot dayrates for its high-spec OSVs in the $38K-$45K range, up from $30K-$36K for H1 2012.