offshore service vessel operator

Hornbeck Offshore emerges from Chapter 11

2015 September OTW Hornbeck MPSV

Covington, La.-based Hornbeck Offshore Services Inc. announced today that on Sept. 4 the company had emerged from Chapter 11 (pursuant to its prepackaged Chapter 11 plan of reorganization).

The reorganization plan implements the previously announced restructuring support agreement negotiated with the offshore service vessel operator’s lenders and note holders.

“The quick completion of our reorganization and emergence from Chapter 11 is a significant achievement, particularly given the currently...

https://www.workboat.com/news/offshore/hornbeck-offshore-emerges-from-chapter-11/

Hornbeck receives continued listing standard notice from NYSE

The Hornbeck OSV Red Dawn. With their big cargo decks and massive tank capacity, OSVs can be suitable for disaster recovery operations, industry advocates say. Easter Shipbuilding photo

Hornbeck Offshore Services Inc. announced yesterday that it had received notice from the New York Stock Exchange (NYSE) that the company is not in compliance with the NYSE continued listing standard.

The standard, set forth in Rule 802.01C of the NYSE Listed Company Manual, requires the average closing price of the company’s common stock to be at least $1 per share over a period of 30 consecutive trading days.

In accordance with applicable NYSE procedures, the Covington, La-based offshore service...

https://www.workboat.com/news/offshore/hornbeck-receives-continued-listing-standard-notice-from-nyse/