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8-K - FORM 8-K - HERCULES OFFSHORE, INC. | h80832e8vk.htm |
Exhibit 99.1
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 2011
Monthly Rig Fleet Status Report
as of
March 22, 2011
Est. | ||||||||||||||||||
Contract (2) | Duration (3) | |||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Dayrate ($000s) | Days | Date | Comments | |||||||||||
Domestic Offshore | ||||||||||||||||||
1 |
Hercules 120 | 120' MC, TD | GOM | Shipyard | 05/20/11 | Scheduled downtime for
ABS 5-year special survey/repairs for approximately 88 days starting in February 2011 |
||||||||||||
Chevron | 35-37 | 41 | 06/30/11 | |||||||||||||||
2 |
Hercules 150 | 150' ILC, TD | GOM | Hilcorp | 32-34 | 6 | 03/28/11 | |||||||||||
Hilcorp | 39-41 | 100 | 07/06/11 | Scheduled downtime for repairs for approximately 14 days starting in mid-July 2011 | ||||||||||||||
3 |
Hercules 173 | 173' MC, TD | GOM | Chevron | 35-37 | 100 | 06/30/11 | Scheduled downtime for ABS 5-year special survey/repairs for approximately 30 days starting in May 2011 | ||||||||||
4 |
Hercules 200 | 200' MC, TD | GOM | Apache | 33-35 | 12 | 04/03/11 | Scheduled downtime for ABS 5-year special survey/repairs for approximately 21 days starting in April 2011 | ||||||||||
5 |
Hercules 201 | 200' MC, TD | GOM | Chevron | 35-37 | 49 | 05/10/11 | Rig substitution for Hercules 120 during scheduled ABS special survey/repairs. Previous contract ended March 11, 2011. | ||||||||||
6 |
Hercules 202 | 200' MC, TD | GOM | W&T Offshore | 32-34 | 1 | 03/23/11 | |||||||||||
36-38 | 63 | 05/25/11 | ||||||||||||||||
7 |
Hercules 204 | 200' MC, TD | GOM | Shipyard | 03/28/11 | Scheduled downtime for ABS 5-year special survey/repairs for approximately 60 days starting in late January 2011 | ||||||||||||
8 |
Hercules 205 | 200' MC, TD | GOM | Prime | 35-37 | 14 | 04/05/11 | |||||||||||
9 |
Hercules 251 | 250' MS, TD | GOM | Ready Stacked | ||||||||||||||
10 |
Hercules 253 | 250' MS, TD | GOM | ADTI/Contango | 32-34 | 20 | 04/11/11 | Contract commenced February 20, 2011 | ||||||||||
11 |
Hercules 350 | 350' ILC, TD | GOM | Chevron | 73-75 | 100 | 06/30/11 | |||||||||||
Average | 46 | 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 |
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 2011
Monthly Rig Fleet Status Report
as of
March 22, 2011
Est. | ||||||||||||||||||
Contract (2) | 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 | Bahrain | Cold Stacked | ||||||||||||||
3 |
Hercules 185 | 150' ILC, TD | Gabon | CABGOC | 59-61 | 1,057 | 02/11/14 | Underwater inspection for five days in July 2011 | ||||||||||
4 |
Platform 3 | Platform, TD | Mexico | PEMEX | 54-56 | 33 | 04/24/11 | |||||||||||
5 |
Hercules 258 | 250' MS, TD | India | ONGC | 109-111 | 74 | 06/04/11 | |||||||||||
6 |
Hercules 260 | 250' ILC, TD | India | ONGC | 142-144 | 16 | 04/07/11 | Underwater inspection for seven days in April 2011 | ||||||||||
7 |
Hercules 208 | 200' MC, TD | Malaysia | Murphy | 109-111 | 157 | 08/26/11 | |||||||||||
8 |
Hercules 261 | 250' ILC, TD | Saudi Arabia | Saudi Aramco | 136-138 | 192 | 09/30/11 | Underwater inspection for 60 days in November 2011 | ||||||||||
9 |
Hercules 262 | 250' ILC, TD | Saudi Arabia | Saudi Aramco | 127-129 | 192 | 09/30/11 | Underwater inspection for seven days in November 2011 | ||||||||||
Average | 215 | days |
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 2011
Monthly Rig Fleet Status Report
as of
March 22, 2011
Est. | ||||||||||||||||||
Contract (2) | 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 | Marlin | 20-22 | 49 | 05/10/11 | Contract commenced March 20, 2011; Previously contracted to Davis Petroleum from February 25 - March 10 at $20-22K dayrate | ||||||||||
2 |
Hercules 41 | Posted 3000 hp, TD | US Inland Gulf Coast | TPIC | 19-21 | 25 | 04/16/11 | Contact commenced March 22 | ||||||||||
3 |
Hercules 49 | Posted 3000 hp, TD | US Inland Gulf Coast | McMoran | 25-27 | 33 | 04/24/11 | |||||||||||
Average | 36 | 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, subject to the satisfaction of regulatory and permitting requirements that are in effect. |
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
February 28, 2011
Liftboat Fleet Status Report
for the month ended
February 28, 2011
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 | $ | 23,835 | 21 | 38 | % | |||||||||||||||
170-215 | 4 | 4 | 13,720 | 42 | 38 | % | Two vessels in drydock in February and March | |||||||||||||||
140-150 | 6 | 6 | 7,764 | 58 | 35 | % | Two vessels in drydock in February and one vessel in drydock in March | |||||||||||||||
120-130 | 14 | 13 | 5,990 | 190 | 52 | % | Three vessels in drydock in February and one vessel in drydock in March | |||||||||||||||
105 | 15 | 13 | 4,694 | 93 | 26 | % | Three vessels in drydock in February and one vessel in drydock in March; One additional vessel coldstacked in March | |||||||||||||||
Sub-total/Average | 41 | 38 | $ | 7,678 | 404 | 38 | % | |||||||||||||||
International | ||||||||||||||||||||||
230-260 | 2 | 2 | $ | 54,483 | 25 | 45 | % | |||||||||||||||
170-215 | 7 | 7 | 41,498 | 136 | 69 | % | One vessel in drydock in February and three vessels in drydock in March | |||||||||||||||
140-150 | 4 | 4 | 15,029 | 112 | 100 | % | ||||||||||||||||
120-130 | 7 | 7 | 12,054 | 136 | 69 | % | Two vessels in drydock in February | |||||||||||||||
105 | 4 | 3 | 10,727 | 60 | 71 | % | One vessel in drydock in March | |||||||||||||||
Sub-total/Average | 24 | 23 | $ | 23,394 | 469 | 73 | % | |||||||||||||||
Total/Average | 65 | 61 | $ | 16,121 | 873 | 51 | % |
(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 continued delays in obtaining drilling permits 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, our ability to renew or extend our
long-term international contracts, or enter into new contracts, at current dayrates when such
contracts expire, 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 or otherwise satisfy
regulatory requirements that may be then in effect, operational difficulties, shipyard and other
delays, government and regulatory actions and other factors described in the Companys 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 SECs website at
www.sec.gov or the companys 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.