Hornbeck Offshore Services has slipped to a loss of $16.5m for the third quarter, reversing a year-ago profit of $14.4m.
Revenue was down over 55% year-on-year to $52m, partially offset by a $28m drop in quarterly operating costs to $66.4m.
The decline in revenue came as Hornbeck had an average of 44.1 vessels stacked compared to 18.1 vessels in the prior-year quarter.
The
