Tidewater said it won an agreement with its principal lenders and noteholders to extend waivers on its breached debt covenants.
The waivers are part of the company's ongoing restructuring talks over some $2bn in debt.
The New Orleans-based offshore vessel owner is on its second such extension.
The Jeff Platt-led company received waivers on meeting its debt covenants until 13 March.
The New York-listed company has some $900m in bank debt outstanding with the rest in senior notes.
Tidewater shares were largely unchanged for the day, trading at $0.84 per share.
