HERCULES OFFSHORE, INC. - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - November 18, 2010

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Exhibit 99.1
(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 18, 2010
                                                       
                              Contract (2)     Est.
Duration (3)		        
      Rig Name     Rig Type     Location     Customer / Status (1)     Dayrate ($000s)     Days     Date     Comments  
Domestic Offshore  
 
                                                   
1
     Hercules 120     120’ — MC, TD     GOM   Chevron   32-34       43       12/31/10        
                                                   


2		    

Hercules 150 		   

150’ — ILC, TD 		   

GOM 		    Phoenix
Apache
LLOG
Hillcorp 		    33-35
33-35
33-35
31-33 		      21
21
7
21		       12/09/10
12/30/10
01/06/11
01/27/11		        
                                                   
3
    Hercules 173     173’ — MC, TD     GOM     Chevron     32-34       43       12/31/10        
                                                   
4
    Hercules 200     200’ — MC, TD     GOM     Apache     33-35       18       12/06/10        
                                                   
5
    Hercules 201     200’ — MC, TD     GOM     Hall Houston     31-33       6       11/24/10        
                                                   
6
    Hercules 202     200’ — MC, TD     GOM     W&T Offshore     31-33       6       11/24/10        
                                                   
7
    Hercules 204     200’ — MC, TD     GOM     Energy XXI     36-38       13       12/01/10        
                                                   
8
    Hercules 205     200’ — MC, TD     GOM         Shipyard
Tana 		   
34-36 		     
21		       11/20/10
12/11/10		     Inspections for 12 days in November at zero dayrate  
                                                   
9
    Hercules 251     250’ — MS, TD     GOM     ADTI/Phoenix     32-34       15       12/03/10        
                                                   
10
    Hercules 253     250’ — MS, TD     GOM     ADTI/Hall Houston     32-34       14       12/02/10     Contract commenced November 15  
                                                   
11
    Hercules 350     350’ — ILC, TD     GOM     Chevron     69-71       43       12/31/10        
 
                            Average       27       days        
                                                   
12
    Hercules 75     Submersible, TD     GOM         Cold Stacked 01/09                              
                                                   
13
    Hercules 77     Submersible, TD     GOM         Cold Stacked 01/09                              
                                                   
14
    Hercules 78     Submersible, TD     GOM         Cold Stacked 01/09                              
                                                   
15
    Hercules 85     85’ — ILS, TD     GOM         Cold Stacked 01/09                              
                                                   
16
    Hercules 101     100’ — MC, TD     GOM         Cold Stacked 01/09                              
                                                   
17
    Hercules 152     150’ — MC, TD     GOM         Cold Stacked 05/09                              
                                                   
18
    Hercules 153     150’ — MC, TD     GOM         Cold Stacked 01/09                              
                                                   
19
    Hercules 203     200’ — MC, TD     GOM         Cold Stacked 06/09                              
                                                   
20
    Hercules 206     200’ — MC, TD     GOM         Cold Stacked 12/09                              
                                                   
21
    Hercules 207     200’ — MC, TD     GOM         Cold Stacked 01/09                              
                                                   
22
    Hercules 211     200’ — MC Workover     GOM         Cold Stacked 01/09                              
                                                   
23
    Hercules 250     250’ — MS, TD     GOM         Cold Stacked 12/09                              
                                                   
24
    Hercules 252     250’ — MS, TD     GOM         Cold Stacked 05/09                              
                                                   
25
    Hercules 257     250’ — MS, TD     GOM         Cold Stacked 07/10                              

Page 1 of 4

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 18, 2010
                                         
                        Contract (2)   Est.
Duration (3)		    
        Rig Name   Rig Type   Location   Customer / Status (1)   Dayrate ($000s)   Days   Date   Comments
International Offshore                            
                                       
 
  1     Hercules 170   170’ — ILC, TD   Bahrain           Warm Stacked                    
  2     Hercules 156   150’ — ILC, TD   Gabon           En Route                   En route to Bahrain from Gabon
                                     
  3     Hercules 185   150’ — ILC, TD   Gabon   Angola Drilling Company Ltd   149-151     n/a     01/07/11  
Remains on standby dayrate in the $145-150K range. Contract with ADC currently does not meet our revenue recognition criteria due to uncertainty surrounding collectability. LOI signed with Cabinda Gulf Oil Company LTD. (CABGOC), a wholly-owned subsidiary of Chevron, in Angola for three years at dayrate of $59-61K expected to commence by January 1, 2011.
  4     Platform 3   Platform, TD   Mexico   PEMEX   54-56     157     04/24/11    
  5     Hercules 258   250’ — MS, TD   India   ONGC   109-111     198     06/04/11    
  6     Hercules 260   250’ — ILC, TD   India   ONGC   142-144     132     03/30/11    
  7     Hercules 208   200’ — MC, TD   Malaysia   Murphy   109-111     281     08/26/11  
 
  8     Hercules 261   250’ — ILC, TD   Saudi Arabia   Saudi Aramco   136-138     316     09/30/11   Repairs and maintenance from October 22 - November 28 at zero dayrate
  9     Hercules 262   250’ — ILC, TD   Saudi Arabia   Saudi Aramco   127-129     316     09/30/11    
                        Average     156     days  
 

Page 2 of 4

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 18, 2010
                                         
                    Contract (2)   Est. Duration (3)        
    Rig Name   Rig Type   Location   Customer / Status (1)   Dayrate ($000s)   Days   Date     Comments  
US Inland Barges  
 
                                      
1
   Hercules 17   Posted — 3000 hp, TD   US Inland Gulf Coast   McMoran   27-29   77   02/03/11          
2
   Hercules 41   Posted — 3000 hp, TD   US Inland Gulf Coast       Ready Stacked                        
3
   Hercules 49   Posted — 3000 hp, TD   US Inland Gulf Coast   McMoran   25-27   44   01/01/11          
 
                   Average   40   days      
4
   Hercules 01   Conv — 2000 hp   US Inland Gulf Coast       Cold Stacked 10/08                        
5
   Hercules 09   Posted — 2000 hp, TD   US Inland Gulf Coast       Cold Stacked 05/09                        
6
   Hercules 11   Conv — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 02/09                        
7
   Hercules 15   Conv — 2000 hp   US Inland Gulf Coast       Cold Stacked 12/08                        
8
   Hercules 19   Conv — 1000 hp   US Inland Gulf Coast       Cold Stacked 01/09                        
9
   Hercules 27   Posted — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 01/09                        
10
   Hercules 28   Conv — 3000 hp   US Inland Gulf Coast       Cold Stacked 05/08                        
11
   Hercules 29   Conv — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 03/09                        
12
   Hercules 46   Posted — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 01/09                        
13
   Hercules 48   Posted — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 03/09                        
14
   Hercules 52   Posted — 2000 hp, TD   US Inland Gulf Coast       Cold Stacked 01/09                        
15
   Hercules 55   Posted — 2000 hp, TD   US Inland Gulf Coast       Cold Stacked 01/09                        
16
   Hercules 57   Posted — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 03/09                        
17
   Hercules 64   Posted — 3000 hp, TD   US Inland Gulf Coast       Cold Stacked 03/09                        
 
 
(1)   Rigs with a Customer named are under contract while rigs described as “Ready Stacked” are not under contract but generally are ready for service. Rigs described as “Warm Stacked” may have a reduced number of crew, but only require a full crew to be ready for service. Rigs described as “Cold Stacked” are not actively marketed, normally require the hiring of an entire crew and require a maintenance review and refurbishment before they can function as a drilling rig. Rigs described as “Shipyard” are undergoing maintenance, repairs, or upgrades and may or may not be actively marketed depending on the length of stay in the shipyard.
 
(2)   Contract dayrates shown in the table above are full contract operating dayrates, although the average dayrate over the term of the contract will be lower and could be substantially lower. Lower dayrates typically apply when the rig is under contract but not fully operating, including periods when the rig is moving, waiting on weather, on standby, down for repairs or maintenance or during other operational delays or events of force majeure. In certain cases under our Inland Barge contracts dayrates include revenue for other vessels and services provided by Delta Towing. The dayrates do not include lump sum amounts reimbursable from the client, bonuses that are considered revenue under generally accepted accounting principles, or revenue already included in other Hercules business segments.
 
(3)   Estimated contract duration is an estimate based on current belief by our customer as to the remaining days to complete the project and assumes, for the domestic contracts, that the customer has permits for the entire contract term.

Page 3 of 4

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
October 31, 2010
                                             
Leg Length/           Actively     Revenue Per                  
Liftboat Class       Total Number   Marketed     Day Per     Operating            
(Feet)       of Liftboats   Liftboats(1)     Liftboat(2)     Days     Utilization(3)     Comments
 
                                            
Gulf of Mexico
      
 
                                    
230
       2     2     $ 22,594       48       77 %  
One vessel in drydock in October and November
170-215
       4     4       12,703       121       98 %  
 
140-150
       6     6       7,626       119       64 %  
Three vessels in drydock in October and four vessels in drydock in November
120-130
       14     13       6,135       327       81 %  
Two vessels in drydock in October
105
       15     13       4,820       311       77 %  
One vessel in drydock in October and November
                                   
 
Sub-total/Average
       41     38     $ 7,596       926       79 %  
 
                                           
 
International
      
 
                                    
230-260
       2     2     $ 46,670       62       100 %  
 
170-215
       7     7       31,585       169       78 %  
One vessel in drydock in October and November
140-150
       4     4       15,519       93       75 %  
One vessel in drydock in October and November
120-130
       7     7       11,503       148       68 %  
One vessel in drydock in October and two vessels in drydock in November
105
       4     3       -       -       0 %  
 
                                   
 
Sub-total/Average
       24     23     $ 24,104       472       66 %  
 
                                           
 
                                   
 
Total/Average
       65     61     $ 13,170       1,398       74 %  
 
                                   
 
 
(1)   Actively marketed liftboats excludes three GOM cold-stacked liftboats and one Nigeria cold-stacked liftboat.
 
(2)   Includes reimbursables.
 
(3)   Utilization is defined as the total number of operating days in the period as a percentage of the total number of calendar days in the period our liftboats were actively marketed.
The information and statements made in the Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning estimated contract expiration dates, dayrates, estimated dates for completion of repairs and upgrades and commencement dates of new contracts, as well as information that may be affected by the regulatory uncertainty in the Gulf of Mexico. Such statements are subject to a number of risks, uncertainties and assumptions, including without limitation, early termination by the customer pursuant to the contract or otherwise, cancellation or completion of certain contracts earlier than expected, the potential inability of our customers to obtain drilling permits that would cover the entire duration of our contracts in the U.S. Gulf of Mexico, operational difficulties, shipyard and other delays, government and regulatory actions and other factors described in the Company’s annual report on Form 10-K and its most recent periodic reports and other documents filed with the Securities and Exchange Commission, which are available free of charge at the SEC’s website at www.sec.gov or the Company’s website at www.herculesoffshore.com. The Company cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.

Page 4 of 4

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