On Wednesday, offshore vessel operator Hornbeck Offshore Services (HOS) reported a loss of $16.5 million for the quarter, down from a profit of $14 million in the third quarter of 2015. Revenue was down by half for the first nine months relative to the same period last year. In its regulatory filing, Hornbeck said that it had sufficient revenue plus cash on hand to cover its operating expenses and commitments for the foreseeable future. However, it has over $1 billion in debt which will mature over 2019-2021, and covenant restrictions limit its ability to draw on its revolving credit facility. The firm says that it has hired PricewaterhouseCoopers to help it assess its strategic options. Hornbeck said that it expects its average number of stacked OSVs will come to about 41 out of a total fleet of 62 over the course of this year, with numbers worsening next year to 48 stacked out of 62. Generally its newer, larger OSVs have seen the best chartering activity.