GULFMARK OFFSHORE, INC. (NYSE:GLF) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01.Entry into a Material Definitive Agreement

On March 8, 2017, GulfMark Offshore, Inc. (the Company) and
GulfMark Americas, Inc. (the Borrower), an indirect wholly-owned
subsidiary of the Company, entered into an agreement (the
Agreement) relating to the senior secured, revolving
multicurrency credit facility among the Borrower, the Company, as
guarantor, a group of financial institutions as the lenders (the
Lenders) and The Royal Bank of Scotland plc, as agent (the Agent)
for the Lenders (the Multicurrency Facility Agreement). to the
Agreement, the Lenders agreed to extend additional revolving
loans in the aggregate principal amount of $10.0 million subject
to the conditions precedent set forth in the Agreement, including
payment by the Company and the Borrower of certain fees and
retainers of a financial advisor and counsel for the Agent, and
the Lenders agreed to waive any default or event of default (no
such default or event of default having been admitted by the
Borrower or the Company) arising by virtue of a borrowing request
submitted previously by the Borrower, which request was deemed to
be withdrawn to the Agreement. The Lenders funded loans in such
amount on March 8, 2017. In addition, the Lenders agreed that
between the date of the Agreement through March 14, 2017, no
Lender shall, in its capacity as Lender, exercise any right of
set off, combination of accounts or similar remedy in relation to
the cash of the obligors under the Multicurrency Facility
Agreement in respect of any amounts that are outstanding or may
become outstanding under the Multicurrency Facility Agreement.

The Agreement prohibits the Borrower from requesting any
additional loans under the Multicurrency Facility Agreement
without the prior written consent of the Agent (acting upon the
instruction of all the Lenders following unanimous consent). In
addition, the Agreement obligates the Company and the Borrower to
provide the Agent certain information including a revised budget,
a revised forecast and weekly financial information, in each case
by specified deadlines, and to keep the Agent and the Lenders
informed of negotiations and discussions with holders of the
Companys indebtedness.

Item 8.01.Other Items

The Company announced that it has retained Evercore Group L.L.C.
and Alvarez Marsal North America, LLC, as financial advisors, and
Weil, Gotshal Manges LLP, as legal advisors, to assist the
Company in analyzing and evaluating its financial condition and
to assist it in reviewing financial and strategic alternatives
for addressing the Companys liquidity needs, including obtaining
additional capital and/or a financial restructuring.

Item 9.01.Financial Statements and Exhibits

(d)Exhibits.

About GULFMARK OFFSHORE, INC. (NYSE:GLF)

GulfMark Offshore, Inc. provides offshore marine support and transportation services. The Company offers these services to companies engaged in the offshore exploration and production of oil and natural gas. The Company operates in three segments: the North Sea (N. Sea), Southeast Asia (SEA) and the Americas. Its vessels transport materials, supplies and personnel to offshore facilities, as well as move and position drilling and production facilities. The operations are conducted in the North Sea, offshore Southeast Asia and offshore in the Americas. It operates a fleet of over 70 owned or managed offshore supply vessels (OSVs), which include over 30 vessels in the North Sea, over 10 vessels offshore Southeast Asia and over 30 vessels offshore the Americas. Its customers include oil and natural gas companies, independent oil and natural gas exploration and production companies working in international markets, and foreign Government-owned or controlled oil and natural gas companies.

GULFMARK OFFSHORE, INC. (NYSE:GLF) Recent Trading Information

GULFMARK OFFSHORE, INC. (NYSE:GLF) closed its last trading session down -0.015 at 0.685 with 283,505 shares trading hands.