"Hornbeck's remaining contractual commitments under the construction agreements that have been taken over by the Surety are approximately $53 million in the aggregate for the two vessels. The Surety will be responsible for all cost of construction in excess of that amount. It is expected that the vessels will be completed in 2025," Hornbeck Offshore said. Todd Hornbeck, the Company's president and Chief Executive Officer, commented, "We are very pleased to be able to complete the construction of these two ultra-high-spec, Jones Act-qualified MPSVs.