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8-K - 8-K - HERCULES OFFSHORE, INC.dec12fsr8k.htm
Hercules Offshore
Monthly Rig Fleet Status Report
as of
December 19, 2012

Exhibit 99.1
 
 
 
 
 
 
 
 
 
 
Contract  (2)
Dayrate ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
Domestic Offshore
1
 
Hercules 120
 
120’ - MC, TD
 
GOM
 
Chevron
 
39-41
 
12
 
12/31/12
 
 
 
64-66
 
365
 
12/31/13
 
 
2
 
Hercules 150
 
150’ - ILC, TD
 
GOM
 
Apache
 
61-63
 
30
 
01/18/13
 
 
 
Chevron
 
74-76
 
60
 
03/19/13
 
 
 
Arena
 
76-78
 
70
 
05/28/13
 
 
3
 
Hercules 173
 
173’ - MC, TD
 
GOM
 
Chevron
 
39-41
 
12
 
12/31/12
 
 
 
64-66
 
365
 
12/31/13
 
 
4
 
Hercules 200
 
200’ - MC, TD
 
GOM
 
Apache
 
71-73
 
68
 
02/25/13
 
 
Apache
 
79-81

90
 
05/26/13
 
 
Shipyard
 
 
 
 
 
07/10/13
 
 
Gulf Coast Energy Resources
 
94-96
 
20
 
07/30/13
 
 
5
 
Hercules 201
 
200’ - MC, TD
 
GOM
 
EPL
 
76-78
 
8
 
12/27/12
 
 
 
81-83
 
90
 
03/27/13
 
 
6
 
Hercules 202
 
200’ - MC, TD
 
GOM
 
W&T Offshore
 
66-68
 
51
 
02/08/13
 
 
 
71-73
 
96
 
05/15/13
 
 
 
84-86
 
94
 
08/17/13
 
 
7
 
Hercules 204
 
200’ - MC, TD
 
GOM
 
Tarpon
 
51-53
 
22
 
01/10/13
 
Work originally contracted in October 2011 with Hercules 150.
 
Castex
 
57-59
 
45
 
02/24/13
 
 
 
Castex
 
81-83
 
40
 
04/05/13
 
 
8
 
Hercules 205
 
200’ - MC, TD
 
GOM
 
Shipyard
 
 
 
 
 
12/29/12
 
Scheduled downtime for UWILD
 
Black Elk
 
81-83
 
90
 
03/29/13
 
 
 
 
84-86
 
180
 
09/25/13
 
ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days
9
 
Hercules 209
 
200' - MC, TD
 
GOM
 
Shipyard
 
 
 
 
 
04/30/13
 
Rig reactivation
 
 
 
 
Razor/Emerald
 
86-88
 
35
 
06/04/13
 
 
 
 
 
 
 
 
 
 
Hall-Houston
 
94-96
 
30
 
07/04/13
 
 
10
 
Hercules 212
 
200’ - MC, TD
 
GOM
 
Rooster Petroleum
 
76-78
 
20
 
01/08/13
 
 
 
Monforte
 
89-91
 
30
 
02/07/13
 
 
 
W&T Offshore
 
84-86
 
95
 
04/13/13
 
 
 
Renaissance
 
86-88
 
45
 
05/28/13
 
 
11
 
Hercules 213
 
200’ - MC, TD
 
GOM
 
EPL
 
74-76
 
62
 
02/19/13
 
 
 
81-83
 
120
 
06/19/13
 
 
12
 
Hercules 214
 
200’ - MC, TD
 
GOM
 
Apache
 
69-71
 
1
 
12/20/12
 
 
 
79-81
 
180
 
06/18/13
 
 
13
 
Hercules 251
 
250’ - MS, TD
 
GOM
 
Walter Oil & Gas
 
60-62
 
22
 
01/10/13
 
 
 
Hall-Houston
 
79-81
 
22
 
02/01/13
 
 
 
Hall-Houston
 
74-76
 
38
 
03/11/13
 
 
 
Hall-Houston
 
57-59
 
17
 
03/28/13
 
Prior contract reassignment
 
Hall-Houston
 
74-76
 
45
 
05/12/13
 
ABS 5-year special survey scheduled for the fourth quarter 2013; estimated downtime of 90 days
14
 
Hercules 253
 
250’ - MS, TD
 
GOM
 
Shipyard
 
 
 
 
 
01/01/13
 
Scheduled downtime for ABS 5-year special survey/repairs commenced October 22, 2012.
 
Tana
 
74-76
 
190
 
07/10/13
 
 
 
Tana
 
96-98
 
65
 
09/13/13
 
 
15
 
Hercules 263
 
250’ - MC, TD
 
GOM
 
Arena
 
62-64
 
57
 
02/14/13
 

 
Tana
 
89-91
 
85
 
05/10/13
 
 
 
Tana
 
86-88
 
120
 
09/07/13
 
 
 
Tana
 
97-99
 
65
 
11/11/13
 
 
16
 
Hercules 264
 
250’ - MC, TD
 
GOM
 
Energy XXI
 
89-91
 
63
 
02/20/13
 
 
 
Castex
 
86-88
 
210
 
09/18/13
 
ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days

Page 1 of 5




Hercules Offshore
Monthly Rig Fleet Status Report
as of
December 19, 2012



 
 
 
 
 
 
 
 
 
 
Contract (2)
Dayrate  ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
17
 
Hercules 265
 
250’ - MC, TD
 
GOM
 
Gulf Coast Energy 
Resources
 
67-69
 
22

 
01/10/13
 
Contract rate based on prior commitment made in December 2011.
 
EPL
 
89-91
 
90

 
04/10/13
 
 
18

 
Hercules 300
 
300' - MC, TD
 
GOM
 
Arena
 
86-88
 
63

 
02/20/13
 
 
96-98
130

06/30/13
 
Shipyard
 
 
09/28/13
ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days
Arena
96-98
235

05/21/14
 
99-101
180

11/17/14
 
19

 
Hercules 350
 
350' - ILC, TD
 
GOM
 
Shipyard
 
 
 
 
 
12/23/12
 
Scheduled downtime for ABS 5-year special survey/repairs commenced September 28, 2012
Cimarex
109-111
205

07/16/13
 
 
 
 
 
Renaissance
 
134-136
 
180

 
01/12/14
 
 
 
 
 
 
 
 
 
 
 
 
Average
 
238

 
days
 
 
 
 
Hercules 75
 
Submersible, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sold in December 2012
 
 
Hercules 77
 
Submersible, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
Sold in December 2012
20

 
Hercules 85
 
85’ - ILS, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
21

 
Hercules 153
 
150’ - MC, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
22

 
Hercules 203
 
200’ - MC, TD
 
GOM
 
Cold Stacked 06/09
 
 
 
 
 
 
 
 
23

 
Hercules 206
 
200’ - MC, TD
 
GOM
 
Cold Stacked 12/09
 
 
 
 
 
 
 
 
24

 
Hercules 207
 
200’ - MC, TD
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
25

 
Hercules 211
 
200’ - MC Workover
 
GOM
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
26

 
Hercules 250
 
250’ - MS, TD
 
GOM
 
Cold Stacked 12/09
 
 
 
 
 
 
 
 
27

 
Hercules 2002
 
200’ - MC, TD
 
GOM
 
Cold Stacked 10/08
 
 
 
 
 
 
 
 
28

 
Hercules 2003
 
200’ - MC, TD
 
GOM
 
Cold Stacked 02/09
 
 
 
 
 
 
 
 
29

 
Hercules 2500
 
250’ - MS, TD
 
GOM
 
Cold Stacked 02/09
 
 
 
 
 
 
 
 
 
Page 2 of 5



Hercules Offshore
Monthly Rig Fleet Status Report
as of
December 19, 2012


 
 
 
 
 
 
 
 
 
 
Contract  (2)
Dayrate ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
International Offshore
1
 
Hercules 170
 
170’ - ILC, TD
 
Bahrain
 
Warm Stacked
 
 
 
 
 
 
 
 
2
 
Hercules 208
 
200' - MC, TD
 
Indonesia
 
Seruway
 
99-101
 
6

 
12/25/12
 
 
 
 
 
 
Enroute
 
 
 
 
 
01/08/13
 
 
 
 
Myanmar
 
PTTEP
 
95-97
 
135

 
05/23/13
 
45 day priced option at $95 - $97K dayrate
3
 
Hercules 260
 
250’ - ILC, TD
 
Cameroon
 
Perenco
 
89-91
 
26

 
01/14/13
 
 
 
 
Shipyard
 
 
 
 
 
03/15/13
 
Scheduled downtime for ABS 5-year special survey/repairs
 
 
Perenco
 
89-91
 
39

 
04/23/13
 
 
 
 
 
 
 
 
 
 
 
124-126
 
90

 
07/22/13
 
 
 
 
 
 
 
 
 
 
 
106-108
 
244

 
03/23/14
 
 
 
 
 
 
 
 
 
 
 
114-116
 
31

 
04/23/14
 
 
4
 
Hercules 261
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
83-85
 
649

 
09/29/14
 
 
5
 
Hercules 262
 
250’ - ILC, TD
 
Saudi Arabia
 
Saudi Aramco
 
79-81
 
689

 
11/08/14
 
 
6
 
Hercules 266
 
250’ - ILC, TD
 
Saudi Arabia
 
Shipyard
 
 
 
 
 
01/31/13
 
Contract preparation work
 
 
Saudi Aramco
 
120-122
 
1,033

 
11/30/15
 
Will receive lump sum payment upon contract commencement. Revised dayrate to reflect late delivery penalty.
 
 
 
 
 
 
 
 
 
 
Average
 
490

 
days
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7
 
Hercules 156
 
150’ - ILC, TD
 
Bahrain
 
Cold Stacked 12/10
 
 
 
 
 
 
 
 
8
 
Hercules 258
 
250’ - MS, TD
 
Malaysia
 
Cold Stacked 10/12
 
 
 
 
 
 
 
 
 
Page 3 of 5



Hercules Offshore
Monthly Rig Fleet Status Report
as of
December 19, 2012


 
 
 
 
 
 
 
 
 
 
Contract  (2)
Dayrate ($000s)
 
Est. Duration (3)
 
 
 
 
Rig Name    
 
Rig Type    
 
Location
 
Customer / Status (1)
 
 
Days    
 
Date    
 
Comments
US Inland Barges
1
 
Hercules 17
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Castex
 
26-28
 
13

 
01/01/13
 
Contract commenced December 4, 2012.
2
 
Hercules 41
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Castex
 
26-28
 
7

 
12/26/12
 
 
3
 
Hercules 49
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Square Mile
 
22-24
 
12

 
12/31/12
 
 
 
 
 
 
 
 
 
 
 
 
Average
 
11

 
days
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
4
 
Hercules 01
 
Conv - 2000 hp
 
US Inland Gulf Coast
 
Cold Stacked 10/08
 
 
 
 
 
 
 
 
5
 
Hercules 11
 
Conv - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 02/09
 
 
 
 
 
 
 
 
6
 
Hercules 15
 
Conv - 2000 hp
 
US Inland Gulf Coast
 
Cold Stacked 12/08
 
 
 
 
 
 
 
 
7
 
Hercules 19
 
Conv - 1000 hp
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
8
 
Hercules 27
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
 
 
Hercules 28
 
Conv - 3000 hp
 
US Inland Gulf Coast
 
Cold Stacked 05/08
 
 
 
 
 
 
 
Sold in December 2012
9

 
Hercules 46
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
10

 
Hercules 48
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 03/09
 
 
 
 
 
 
 
 
11

 
Hercules 52
 
Posted - 2000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
12

 
Hercules 55
 
Posted - 3000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 03/09
 
 
 
 
 
 
 
 
13

 
Hercules 57
 
Posted - 2000 hp, TD
 
US Inland Gulf Coast
 
Cold Stacked 01/09
 
 
 
 
 
 
 
 
14

 
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” are actively marketed and may have a reduced number of crew, but 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, 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 Company’s 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
November 30, 2012

Leg Length/
Liftboat Class
(Feet)
 
Total Number
of Liftboats
 
Actively
Marketed
Liftboats (1)
 
Revenue Per
Day Per
Liftboat (2)
 
Operating
Days
 
Utilization (3)
 
Comments
Gulf of Mexico
 
 
 
 
 
 
 
 
 
 
 
 
230
 
1

 
1

 
$
26,889

 
30

 
100
%
 
One vessel in drydock in December
170-215
 
4

 
4

 
16,514

 
109

 
91
%
 
 
140-150
 
5

 
5

 
9,877

 
129

 
86
%
 
One vessel in drydock in November and one vessel in drydock in December
120-130
 
14

 
12

 
6,773

 
287

 
80
%
 
Two vessels in drydock in November
105
 
15

 
10

 
6,383

 
207

 
69
%
 
One vessel in drydock in November
Sub-total/Average
 
39

 
32

 
$
9,378

 
762

 
79
%
 
 
International
 
 
 
 
 
 
 
 
 
 
 
 
230-260
 
3

 
3

 
$
44,910

 
35

 
54
%
 
 
170-215
 
6

 
6

 
37,459

 
133

 
74
%
 
One vessel in drydock in November
140-150
 
4

 
4

 
15,311

 
90

 
75
%
 
One vessel in drydock in November and one vessel in drydock in December
120-130
 
7

 
7

 
11,867

 
187

 
89
%
 
 
105
 
4

 
2

 
10,000

 
30

 
50
%
 
 
Sub-total/Average
 
24

 
22

 
$
22,002

 
475

 
75
%
 
 
Total/Average
 
63

 
54

 
$
14,226

 
1,237

 
78
%
 
 
 
(1)
Actively marketed liftboats excludes seven GOM cold-stacked liftboats and two Nigeria cold-stacked liftboats. The Kingfish, a 230’ class liftboat, arrived in the Middle East from the U.S. GOM in July, completed shipyard upgrades and commenced initial contract in late November 2012.
(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 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 5 of 5