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Note 9 - Debt - Summary of Debt Outstanding (Details) - USD ($)
$ in Thousands

Sep. 30, 2020

Dec. 31, 2019

Long-term debt, gross

$ 260,534

$ 297,659

Debt premiums and discounts, net

(4,779)

(8,725)

Less: Current portion of long-term debt

(9,576)

(9,890)

Total long-term debt

246,179

279,044

The 8.00% Senior Secured Notes due August 2022 [Member]

Long-term debt, gross

^[1],[2],[3]

197,049

224,793

NOK Denominated Notes Due May 2024 [Member] | Troms Offshore [Member]

Long-term debt, gross

^[4]

8,683

10,260

NOK Denominated Notes Due January 2026 [Member] | Troms Offshore [Member]

Long-term debt, gross

^[4]

16,746

20,788

USD Denominated Notes Due January 2027 [Member] | Troms Offshore [Member]

Long-term debt, gross

^[4]

17,816

20,273

USD Denominated Notes Due April 2027 [Member] | Troms Offshore [Member]

Long-term debt, gross

^[4]

$ 20,240

$ 21,545

[1]	As of September 30, 2020 and December 31, 2019 the fair value (Level 2) of the Secured Notes was $193.9 million and $237.6 million, respectively.
[2]	During the three and nine months ended September 30, 2020, we repurchased $27.7 million of the Secured Notes at a discount of $1.5 million in open market transactions.
[3]	The $26.4 million restricted cash on the balance sheet at September 30, 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. In connection with the asset dispositions, we have commenced a mandatory tender offer for $28.7 million aggregate principal amount of Secured Notes in accordance with the Senior Notes Indenture, which will be terminated if the consent solicitation described below is approved by the requisite holders of Senior Notes, allowing the tender offer for $50 million aggregate principal amount of Senior Notes described below to proceed.
[4]	We pay principal and interest on these notes semi-annually. As of September 30, 2020 and December 31, 2019, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $62.6 million and $72.9 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of September 30, 2020 was 5.0%.

X

- Definition

Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.

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