Hornbeck Offshore Services has fallen short in its attempt to keep the company's head above water.
The ailing Louisiana-based offshore player said Monday morning that it is terminating its bond swap offer launched in mid-February, which was due to expire at 11:59pm (1559 GMT) tonight.
"The company does not expect the minimum participation condition under the terms of the offers," Hornbeck Offshore said in a press release.
