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8-K - FORM 8-K - HERCULES OFFSHORE, INC. | h84332ke8vk.htm |
Exhibit 99.1
Hercules Offshore
Monthly Rig Fleet Status Report
as of
August 25, 2011
Monthly Rig Fleet Status Report
as of
August 25, 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 | Chevron | 35-37 | 128 | 12/31/11 | Two 6-month priced options at $35-37K dayrate (subject to cost escalation provisions). Chevron to reimburse costs of repairs up to $3.3 million. | ||||||||||
2 |
Hercules 150 | 150' - ILC, TD | GOM | Rooster Petroleum | 43-45 | 15 | 09/09/11 | Current contract commenced August 21 | ||||||||||
Shipyard | 10/09/11 | Scheduled downtime for approximately 30 days starting in September | ||||||||||||||||
Ready Stacked | 12/31/11 | |||||||||||||||||
Arena | 54-56 | 45 | 02/14/12 | One 14-day priced option | ||||||||||||||
3 |
Hercules 173 | 173 - MC, TD | GOM | Chevron | 35-37 | 128 | 12/31/11 | Contract recommenced July 23. Two 6-month priced options at $35 - $37K dayrate (subject to cost escalation provisions). | ||||||||||
4 |
Hercules 200 | 200 - MC, TD | GOM | Apache | 37-39 | 6 | 08/31/11 | |||||||||||
40-42 | 60 | 10/30/11 | ||||||||||||||||
37-39 | 45 | 12/14/11 | ||||||||||||||||
5 |
Hercules 201 | 200 - MC, TD | GOM | Chevron | 35-37 | 26 | 09/20/11 | |||||||||||
Shipyard | 10/20/11 | Scheduled downtime for approximately 30 days starting in September | ||||||||||||||||
Energy XXI | 44-46 | 74 | 01/02/12 | |||||||||||||||
6 |
Hercules 202 | 200' - MC, TD | GOM | W&T Offshore | 39-41 | 35 | 09/29/11 | |||||||||||
7 |
Hercules 204 | 200' - MC, TD | GOM | Pisces | 37-39 | 15 | 09/09/11 | |||||||||||
Stone Energy | 37-39 | 40 | 10/19/11 | |||||||||||||||
Stone Energy | 42-44 | 20 | 11/08/11 | One 20-day priced option | ||||||||||||||
8 |
Hercules 205 | 200' - MC, TD | GOM | Energy XXI | 38-40 | 16 | 09/10/11 | |||||||||||
9 |
Hercules 212 | 200' - MC, TD | GOM | Ready Stacked | 08/31/11 | |||||||||||||
Hall-Houston | 38-40 | 30 | 09/30/11 | Special survey due by first quarter 2012 | ||||||||||||||
10 |
Hercules 213 | 200' - MC, TD | GOM | Walter Oil and Gas | 38-40 | 8 | 09/02/11 | |||||||||||
Petroquest | 38-40 | 96 | 12/07/11 | |||||||||||||||
Petroquest | 45-47 | 28 | 01/04/12 | |||||||||||||||
11 |
Hercules 214 | 200 - MC, TD | GOM | Apache | 42-44 | 26 | 09/20/11 | Contract commenced August 16. Scheduled downtime for ABS special survey/repairs for approximately 45 days starting in November 2011 | ||||||||||
12 |
Hercules 251 | 250' - MS, TD | GOM | Ready Stacked | ||||||||||||||
13 |
Hercules 253 | 250' - MS, TD | GOM | Ready Stacked | 08/31/11 | Previous contract completed August 15 | ||||||||||||
Phoenix | 42-44 | 90 | 11/29/11 | |||||||||||||||
Hall-Houston | 41-43 | 120 | 03/28/12 | Special survey due by third quarter 2012 | ||||||||||||||
Tana | 47-49 | 90 | 06/26/12 | |||||||||||||||
14 |
Hercules 263 | 250 - MC, TD | GOM | Apache Pisces Ready Stacked Tana |
55-57 52-54 59-61 |
6 35 48 |
08/31/11 10/05/11 12/14/11 01/31/12 |
Contract commenced August 5 Special survey due by third quarter 2012 |
||||||||||
15 |
Hercules 264 | 250 - MC, TD | GOM | Chevron | 56-58 | 56 | 10/20/11 | Includes up to $11.5K per day for additional personnel. | ||||||||||
16 |
Hercules 265 | 250 - MC, TD | GOM | Ready Stacked | 11/15/11 | |||||||||||||
Stone Energy | 56-58 | 65 | 01/19/12 | Special survey due by third quarter 2012 | ||||||||||||||
17 |
Hercules 300 | 300' - MC, TD | GOM | Arena | 69-71 | 37 | 10/01/11 | |||||||||||
18 |
Hercules 350 | 350 - ILC, TD | GOM | Chevron | 73-75 | 128 | 12/31/11 | Special survey due by third quarter 2012 | ||||||||||
Average | 84 | days |
Page 1 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
August 25, 2011
Monthly Rig Fleet Status Report
as of
August 25, 2011
Est. | ||||||||||||||||||
Contract (2) | Duration (3) | |||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Dayrate ($000s) | Days | Date | Comments | |||||||||||
19 |
Hercules 75 | Submersible, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
20 |
Hercules 77 | Submersible, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
21 |
Hercules 85 | 85' ILS, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
22 |
Hercules 101 | 100' MC, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
23 |
Hercules 153 | 150' MC, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
24 |
Hercules 203 | 200' MC, TD | GOM | Cold Stacked 06/09 | ||||||||||||||
25 |
Hercules 206 | 200' MC, TD | GOM | Cold Stacked 12/09 | ||||||||||||||
26 |
Hercules 207 | 200' MC, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
27 |
Hercules 209 | 200' MC | GOM | Cold Stacked 01/09 | ||||||||||||||
28 |
Hercules 211 | 200' MC Workover | GOM | Cold Stacked 01/09 | ||||||||||||||
29 |
Hercules 250 | 250' MS, TD | GOM | Cold Stacked 12/09 | ||||||||||||||
30 |
Hercules 252 | 250' MS, TD | GOM | Cold Stacked 05/09 | ||||||||||||||
31 |
Hercules 256 | 250' MS, TD | GOM | Cold Stacked 12/10 | ||||||||||||||
32 |
Hercules 257 | 250' MS, TD | GOM | Cold Stacked 07/10 | ||||||||||||||
33 |
Hercules 259 | 250' MS, TD | GOM | Cold Stacked 02/10 | ||||||||||||||
34 |
Hercules 800 | 80' MS, TD | GOM | Cold Stacked 10/07 | ||||||||||||||
35 |
Hercules 2000 | 200' MC, TD | GOM | Cold Stacked 05/08 | ||||||||||||||
36 |
Hercules 2002 | 200' MC, TD | GOM | Cold Stacked 10/08 | ||||||||||||||
37 |
Hercules 2003 | 200' MC, TD | GOM | Cold Stacked 02/09 | ||||||||||||||
38 |
Hercules 2005 | 200' MC, TD | GOM | Cold Stacked 07/09 | ||||||||||||||
39 |
Hercules 2008 | 200' MC, TD | GOM | Cold Stacked 01/09 | ||||||||||||||
40 |
Hercules 2500 | 250' MS, TD | GOM | Cold Stacked 02/09 | ||||||||||||||
41 |
Hercules 2501 | 250' MS, TD | GOM | Cold Stacked 01/10 | ||||||||||||||
42 |
Hercules 2502 | 250' MS, TD | GOM | Cold Stacked 02/09 | ||||||||||||||
43 |
Hercules 2503 | 250' MS, TD | GOM | Cold Stacked 09/09 |
Page 2 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
August 25, 2011
Monthly Rig Fleet Status Report
as of
August 25, 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 185 | 150 ILC, TD | Angola | CABGOC | 59-61 | 901 | 02/11/14 | Underwater inspection for 21 days in September 2011 | ||||||||||
3 |
Platform 3 | Platform, TD | Mexico | Shipyard | 09/07/11 | Contract preparation work | ||||||||||||
PEMEX | 49-51 | 1,465 | 09/11/15 | |||||||||||||||
4 |
Hercules 258 | 250' MS, TD | India | ONGC | TBD | 67 | 10/31/11 | Dayrate to be comparable to successful bid on upcoming ONGC tender. | ||||||||||
Shipyard | 01/29/12 | Scheduled downtime for special survey/repairs for approximately 90 days starting in November 2011. | ||||||||||||||||
5 |
Hercules 260 | 250' ILC, TD | Congo | Perenco | 61-63 | 12 | 09/06/11 | Waiting on weather at standby dayrate | ||||||||||
69-71 | 180 | 03/04/12 | Two 6-month priced options. Special survey due by fourth quarter 2012. | |||||||||||||||
6 |
Hercules 208 | 200' MC, TD | Malaysia | Murphy | 109-111 | 7 | 09/01/11 | |||||||||||
Ready Stacked | 09/17/11 | |||||||||||||||||
Enroute | 09/24/11 | Enroute to Vietnam | ||||||||||||||||
Vietnam | Quad Energy | 68-70 | 90 | 12/23/11 | ||||||||||||||
7 |
Hercules 261 | 250' ILC, TD | Saudi Arabia | Saudi Aramco | 136-138 | 36 | 09/30/11 | Underwater inspection for 7-14 days in November 2011 | ||||||||||
8 |
Hercules 262 | 250' ILC, TD | Saudi Arabia | Saudi Aramco | 127-129 | 36 | 09/30/11 | Repairs and maintenance for 8 days in August at zero dayrate. Underwater inspection for 7-14 days in November 2011. Special survey due by fourth quarter 2012. | ||||||||||
Average | 349 | days | ||||||||||||||||
9 |
Hercules 156 | 150' ILC, TD | Bahrain | Cold Stacked 12/10 |
Page 3 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
August 25, 2011
Monthly Rig Fleet Status Report
as of
August 25, 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 | EPL | 21-23 | 20 | 09/14/11 | |||||||||||
2 |
Hercules 41 | Posted 3000 hp, TD | US Inland Gulf Coast | Goldking | 21-23 | 4 | 08/29/11 | |||||||||||
3 |
Hercules 49 | Posted 3000 hp, TD | US Inland Gulf Coast | McMoran | 22-24 | 11 | 09/05/11 | |||||||||||
Average | 12 | 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. Rig s described as Shipyard are undergoing maintenance, repairs, 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, which may include estimated contractual adjustments for changes in operating costs and reimbursable cost items for operating expenses such as crew and may also include additional services and personnel that may be requested by the customer from time-to-time. However, the dayrates do not include certain non-recurring revenues such as lump sum mobilizations and demobilizations. The actual dayrate over the term of the contract could be lower and could be substantially lower and or subject to numerous risks as disclosed in the Companys filings with the Securities and Exchange Commission. 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. | |
(3) | Estimated contract duration is an estimate based on current belief by our customers as to the remaining days to complete the project, subject to the satisfaction of regulatory or permitting requirements that are in effect, including those that may impact the ability of our customers to timely obtain drilling permits. |
Page 4 of 5
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
July 31, 2011
Liftboat Fleet Status Report
for the month ended
July 31, 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 | $ | 22,195 | 48 | 77 | % | |||||||||||||||
170-215 |
4 | 4 | 13,875 | 68 | 55 | % | One vessel in drydock in July and August | |||||||||||||||
140-150 |
6 | 6 | 8,097 | 130 | 70 | % | Two vessels in drydock in July and August | |||||||||||||||
120-130 |
14 | 12 | 6,152 | 314 | 84 | % | Two vessels in drydock in July and August | |||||||||||||||
105 |
15 | 11 | 4,678 | 213 | 62 | % | Two vessels in drydock in July and August | |||||||||||||||
Sub-total/Average |
41 | 35 | $ | 7,749 | 773 | 71 | % | |||||||||||||||
International |
||||||||||||||||||||||
230-260 |
2 | 2 | $ | 46,282 | 31 | 50 | % | One vessel in drydock in July and August | ||||||||||||||
170-215 |
7 | 7 | 27,925 | 132 | 61 | % | Two vessels in drydock in July and August | |||||||||||||||
140-150 |
4 | 4 | 14,240 | 91 | 73 | % | One vessel in drydock in July and August | |||||||||||||||
120-130 |
7 | 7 | 12,385 | 108 | 50 | % | One vessel in drydock in July and August | |||||||||||||||
105 |
4 | 3 | 9,203 | 62 | 67 | % | ||||||||||||||||
Sub-total/Average |
24 | 23 | $ | 19,634 | 424 | 59 | % | |||||||||||||||
Total/Average |
65 | 58 | $ | 11,959 | 1,197 | 67 | % | |||||||||||||||
(1) | Actively marketed liftboats excludes six 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.
Page 5 of 5