Attached files

file filename
EX-99.1 - EX-99.1 - HORNBECK OFFSHORE SERVICES INC /LAd897874dex991.htm
EX-10.1 - EX-10.1 - HORNBECK OFFSHORE SERVICES INC /LAd897874dex101.htm
8-K - 8-K - HORNBECK OFFSHORE SERVICES INC /LAd897874d8k.htm

 

Exhibit 99.2

 

 

 

 

 

 

 

 

The cleansing material provided herein speak only as of the date on which such projections were made and do not speak as of the date that these cleansing materials are provided pursuant to this report. None of the Company, its subsidiaries or their directors, officers or advisors undertakes any obligation to update this information. The determination of the Company and its subsidiaries’ future performance, cash flows and liquidity are uncertain processes involving the extensive use of estimates and assumptions, which, although considered reasonable by the Company and its advisors at the time such projections were made, are inherently subject to significant business, economic and competitive uncertainties and contingencies beyond the control of the Company and its subsidiaries. None of the Company, its subsidiaries or any of their directors, officers or advisors make any representation or warranty as to the accuracy of the projections included herein. Accordingly, you should not place undue reliance on this cleansing information, as actual results may vary materially. The cleansing material provided herein includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. federal securities laws, including projections, such as cash flow forecasts, business plans and budgets. Forward-looking statements are neither historical facts nor assurances of future performance or results. 

 

 

 

 

 

 

 

 

Assumes pre-packaged chapter 11 case, with cases commenced on April 15, 2020, and emergence on June 30, 2020

 

Estimated cash balances subject to material modification

 

Forecasted Sources and Uses ($’000s)  
Sources      
Operating Receipts   $51,533  
Balance Sheet Cash   74,876  
DIP Financing   75,000  
       
Total Sources   $201,409  
       
Uses      
Operating Disbursements   $51,674  
Restructuring Costs   53,551  
Revolver Paydown   50,000  
Interest and Fees   6,987  
Ending Cash1   39,197  
       
Total Uses   $201,409  
(1) Reflects estimated cash immediately prior to transaction close. The cash balance immediately following the contemplated transactions would include proceeds from the contemplated $100 million rights offering.

 

 

 

 

 

 

 

 

Preliminary estimates prepared as of March 13, 2020, and subject to material modification

 

 

 

Projected Financial Results ($MM)
Period Ending   FY 2020     FY 2021     FY 2022     FY 2023     FY 2024  
Revenues   $ 212.0     $ 177.2     $ 282.6     $ 387.7     $ 454.5  
Adjusted EBITDA(1)     (6.0 )     (11.3 )     65.3       157.3       214.1  
Total CapEx     18.0       42.0       75.0       26.3       36.6