Horizon Signs Major Contract for Offshore Mass. LNG Project

Horizon Offshore, Inc. said that its subsidiary, Horizon Offshore Contractors, Inc., has signed a contract with Algonquin Gas Transmission, LLC, an affiliate of Spectra Energy Corp., to lay and bury 16 miles of 24" trunk line, two 18'' lateral lines, along with the associated tie-ins and testing of the pipelines. These pipelines will service the Northeast Gateway Deepwater Port being constructed offshore Massachusetts.

The work is expected to commence in May 2007 with completion expected by November 2007. The Company will utilize three of its vessels to perform this project: the Lone Star Horizon, Atlantic Horizon and Texas Horizon. The Company also stated that its current backlog is approximately $300 million.

Horizon and its subsidiaries provide marine construction services for the offshore oil and gas and energy industries. The Company's fleet is used to perform a wide range of marine construction activities, including installation and repair of marine pipelines to transport oil and gas and other sub sea production systems, and the installation and abandonment of production platforms.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
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