Hornbeck Offshore Services 8-K 2015
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: February 27, 2015
(Date of earliest event reported)
Hornbeck Offshore Services, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 8.01 - Other Events
On March 2, 2015, the Company issued a press release announcing that on February 27, 2015 it completed the sale of three vessels to the U.S. Navy. The Company separately entered into an operations and maintenance ("O&M") contract for the three vessels sold, which contains an initial term and annual renewal options spanning a 10-year operating period including annual dayrate escalations. The Company also granted an option to purchase a fourth vessel to U.S. Navy on the same terms and conditions as the first three vessels. The U.S. Navy is expected to exercise its option and buy the fourth vessel no later than September 30, 2015, from which time such vessel will also be covered by the O&M contract. Until then the fourth vessel will continue to operate on a time charter. The Company updated fiscal 2015 guidance to reflect the vessel sales, the time charter and the O&M arrangement. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01 – Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.