Hornbeck Offshore Services is deferring its upcoming debt payments and its cash reserves dwindle.
The over-the-counter-traded offshore vessel owner disclosed the delay Monday morning, a little more than two weeks after it announced a plan to push back more than $674m in debt due this year and next.
"[Hornbeck] is exploring a range of options with its stakeholders with the common objective of strengthening the Company’s financial position," the Todd Hornbeck-led company said in a Securities and Exchange Commission filing Monday.
