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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Summary of Debt Outstanding | The following is a summary of all debt outstanding:
|  | March 31, |  |  | December 31, |
(In thousands) |  | 2020 |  |  | 2019 |
Secured notes: |  |  |  |  |  |  |  |
8.00% Senior secured notes due August 2022 (A) (B) |  | $ | 224,793 |  |  | $ | 224,793 |
Troms Offshore borrowings (C): |  |  |  |  |  |  |  |
NOK denominated notes due May 2024 |  |  | 8,587 |  |  |  | 10,260 |
NOK denominated notes due January 2026 |  |  | 16,199 |  |  |  | 20,788 |
USD denominated notes due January 2027 |  |  | 19,044 |  |  |  | 20,273 |
USD denominated notes due April 2027 |  |  | 21,545 |  |  |  | 21,545 |
|  | $ | 290,168 |  |  | $ | 297,659 |
Debt premiums and discounts, net |  |  | (8,049 | ) |  |  | (8,725 | )
Less: Current portion of long-term debt |  |  | (9,104 | ) |  |  | (9,890 | )
Total long-term debt |  | $ | 273,015 |  |  | $ | 279,044 |
| (A) | As of March 31, 2020 and December 31, 2019 the fair value (Level 2) of the Secured Notes was $220.9 million and $237.6 million, respectively.
| (B) | The $12.5 million restricted cash on the balance sheet at March 31, 2020, represents approximately 65% of net proceeds from asset dispositions since the date of the last tender offer and is restricted by the terms of the Indenture.
| (C) | We pay principal and interest on these notes semi-annually. As of March 31, 2020 and December 31, 2019, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $65.4 million and $72.9 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of March 31, 2020 was 5.0%.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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