Attached files
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| 8-K - 8-K - HERCULES OFFSHORE, INC. | july13fsr8k.htm |
Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 2013
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 | 64-66 | 166 | 12/31/13 | |||||||||
2 | Hercules 150 | 150’ - ILC, TD | GOM | Arena | 76-78 | 38 | 08/25/13 | |||||||||
Northstar | 89-91 | 100 | 12/03/13 | |||||||||||||
3 | Hercules 173 | 173’ - MC, TD | GOM | Chevron | 64-66 | 166 | 12/31/13 | |||||||||
4 | Hercules 200 | 200’ - MC, TD | GOM | Shipyard | 07/24/13 | Estimated downtime for repair and maintenance work | ||||||||||
Gulf Coast Energy Resources | 94-96 | 20 | 08/13/13 | |||||||||||||
Petroquest | 101-103 | 40 | 09/22/13 | |||||||||||||
Walter Oil & Gas | 101-103 | 150 | 02/19/14 | |||||||||||||
5 | Hercules 201 | 200’ - MC, TD | GOM | EPL | 101-103 | 54 | 09/10/13 | |||||||||
106-108 | 180 | 03/09/14 | ||||||||||||||
6 | Hercules 202 | 200’ - MC, TD | GOM | W&T Offshore | 66-68 | 2 | 07/20/13 | |||||||||
Contango | 101-103 | 26 | 08/15/13 | |||||||||||||
MC Offshore | 101-103 | 20 | 09/04/13 | Previously assigned to Hercules 212 | ||||||||||||
7 | Hercules 204 | 200’ - MC, TD | GOM | Chevron | 81-83 | 166 | 12/31/13 | Contract rate based on prior commitment made in October 2012 | ||||||||
8 | Hercules 205 | 200’ - MC, TD | GOM | Black Elk | 84-86 | 93 | 10/19/13 | |||||||||
Shipyard | 01/17/14 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||
Black Elk | 101-103 | 180 | 07/16/14 | |||||||||||||
9 | Hercules 209 | 200' - MC, TD | GOM | Hall-Houston | 94-96 | 15 | 08/02/13 | Contract commenced June 25, 2013 | ||||||||
Sandridge | 101-103 | 75 | 10/16/13 | |||||||||||||
10 | Hercules 212 | 200’ - MC, TD | GOM | W&T Offshore | 84-86 | 16 | 08/03/13 | |||||||||
Renaissance | 86-88 | 45 | 09/17/13 | |||||||||||||
11 | Hercules 213 | 200’ - MC, TD | GOM | EPL | 81-83 | 5 | 07/23/13 | |||||||||
101-103 | 90 | 10/21/13 | ||||||||||||||
106-108 | 180 | 04/19/14 | ||||||||||||||
12 | Hercules 214 | 200’ - MC, TD | GOM | Apache | 79-81 | 37 | 08/24/13 | |||||||||
101-103 | 180 | 02/20/14 | ||||||||||||||
13 | Hercules 251 | 250’ - MS, TD | GOM | Hall-Houston | 57-59 | - | 07/18/13 | Prior contract reassignment | ||||||||
Shipyard | 10/16/13 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||
Hall-Houston | 74-76 | 36 | 11/21/13 | |||||||||||||
14 | Hercules 253 | 250’ - MS, TD | GOM | Tana | 74-76 | 54 | 09/10/13 | |||||||||
96-98 | 65 | 11/14/13 | ||||||||||||||
15 | Hercules 263 | 250’ - MC, TD | GOM | Tana | 86-88 | 28 | 08/15/13 | |||||||||
89-91 | 80 | 11/03/13 | Contract assignment to Walter Oil & Gas | |||||||||||||
Walter Oil & Gas | 97-99 | 30 | 12/03/13 | |||||||||||||
Tana | 97-99 | 40 | 01/12/14 | |||||||||||||
16 | Hercules 264 | 250’ - MC, TD | GOM | Castex | 86-88 | 149 | 12/14/13 | |||||||||
Shipyard | 03/14/14 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||
Castex | 116-118 | 90 | 06/12/14 | |||||||||||||
119-121 | 90 | 09/10/14 | ||||||||||||||
Page 1 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 2013
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 | Walter Oil & Gas | 101-103 | 30 | 08/17/13 | |||||||||||
Shipyard | 08/31/13 | Estimated downtime for repair and maintenance work | ||||||||||||||||
Arena | 102-104 | 240 | 04/28/14 | |||||||||||||||
18 | Hercules 300 | 300' - MC, TD | GOM | Arena | 96-98 | 12 | 07/30/13 | |||||||||||
Shipyard | 10/28/13 | ABS 5-year special survey; estimated downtime of 90 days | ||||||||||||||||
Arena | 96-98 | 208 | 05/24/14 | |||||||||||||||
99-101 | 180 | 11/20/14 | ||||||||||||||||
19 | Hercules 350 | 350' - ILC, TD | GOM | Renaissance | 134-136 | 153 | 12/18/13 | |||||||||||
Arena | 136-138 | 90 | 03/18/14 | |||||||||||||||
Arena | 136-138 | 365 | 03/18/15 | |||||||||||||||
Average (4) | 210 | days | ||||||||||||||||
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
July 18, 2013
Contract (2) Dayrate ($000s) | Est. Duration (3) | ||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | |||||||||||
International Offshore | |||||||||||||||||
1 | Discovery Resilience | 400' - ILC, TD | Singapore | Under Construction | 10/07/13 | ||||||||||||
2 | Discovery Triumph | 400' - ILC, TD | Singapore | Shipyard | |||||||||||||
3 | Hercules 170 | 170’ - ILC, TD | Bahrain | Warm Stacked | |||||||||||||
4 | Hercules 208 | 200' - MC, TD | Myanmar | PTTEP | 95-97 | 74 | 09/30/13 | ||||||||||
Shipyard | 12/29/13 | Scheduled downtime for ABS 5-year special survey/repairs | |||||||||||||||
5 | Hercules 260 | 250’ - ILC, TD | Democratic Republic of Congo | Perenco | 106-108 | 279 | 04/23/14 | ||||||||||
Gabon | 114-116 | 31 | 05/24/14 | ||||||||||||||
6 | Hercules 261 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 83-85 | 438 | 09/29/14 | ||||||||||
7 | Hercules 262 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 79-81 | 478 | 11/08/14 | ||||||||||
8 | Hercules 266 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 116-118 | 865 | 11/30/15 | Contract expiration between 9/30/15 and three years post commencement of contract (April 8, 2013) at discretion of customer. | |||||||||
9 | Hercules 267 | 250' - ILC, TD | Gabon | Shipyard | 08/15/13 | Waiting on work visas | |||||||||||
Angola | CABGOC | 108-110 | 1,095 | 08/14/16 | |||||||||||||
Average (4) | 466 | days | |||||||||||||||
10 | Hercules 156 | 150’ - ILC, TD | Bahrain | Cold Stacked 12/10 | |||||||||||||
11 | Hercules 258 | 250’ - MS, TD | Malaysia | Cold Stacked 10/12 | |||||||||||||
Page 3 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
July 18, 2013
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 | EPL | 29-31 | - | 07/18/13 | Sale pending | ||||||||
2 | Hercules 41 | Posted - 3000 hp, TD | US Inland Gulf Coast | Sold July 2013 | ||||||||||||
3 | Hercules 49 | Posted - 3000 hp, TD | US Inland Gulf Coast | Sold July 2013 | ||||||||||||
Average (4) | - | days | ||||||||||||||
4 | Hercules 01 | Conv - 2000 hp | US Inland Gulf Coast | Cold Stacked 10/08 | Sold July 2013 | |||||||||||
5 | Hercules 11 | Conv - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 02/09 | Sold July 2013 | |||||||||||
6 | Hercules 19 | Conv - 1000 hp | US Inland Gulf Coast | Cold Stacked 01/09 | Sold July 2013 | |||||||||||
7 | Hercules 27 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | Sale pending | |||||||||||
8 | Hercules 46 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | Sold July 2013 | |||||||||||
9 | Hercules 48 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | Sold July 2013 | |||||||||||
10 | Hercules 52 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | ||||||||||||
11 | Hercules 55 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | Sold July 2013 | |||||||||||
12 | Hercules 57 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | Sold July 2013 | |||||||||||
13 | Hercules 64 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | Sold July 2013 | |||||||||||
(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. |
(4) | Average backlog per rig based on rigs available for hire and actively marketed. |
Page 4 of 5
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
June 30, 2013
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 (4) | |||||||||||||||||||
230 | 1 | 1 | $ | 25,960 | 6 | 20 | % | ||||||||||||
170-215 | 4 | 4 | 15,043 | 43 | 36 | % | |||||||||||||
140-150 | 5 | 5 | 10,451 | 115 | 77 | % | |||||||||||||
120-130 | 14 | 12 | 6,950 | 234 | 65 | % | |||||||||||||
105 | 15 | 7 | 6,410 | 156 | 74 | % | |||||||||||||
Sub-total/Average | 39 | 29 | $ | 8,359 | 554 | 64 | % | ||||||||||||
International | |||||||||||||||||||
230-280 | 4 | 4 | $ | 42,440 | 50 | 42 | % | One vessel in for capital work in June and one vessel in for repair in June | |||||||||||
170-215 | 6 | 6 | 36,635 | 118 | 66 | % | One vessel in drydock in June and July | ||||||||||||
140-150 | 4 | 4 | 15,616 | 88 | 73 | % | |||||||||||||
120-130 | 7 | 7 | 12,695 | 157 | 75 | % | One vessel in drydock in June and July | ||||||||||||
105 | 3 | 2 | 10,304 | 48 | 80 | % | |||||||||||||
Sub-total/Average | 24 | 23 | $ | 22,358 | 461 | 67 | % | ||||||||||||
Total/Average | 63 | 62 | 52 | $ | 14,717 | 1,015 | 65 | % | |||||||||||
(1) | Actively marketed liftboats excludes ten GOM cold-stacked liftboats. |
(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. |
(4) | Gulf of Mexico vessels sold as of July 1, 2013. |
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 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 contracts, or enter into new contracts, 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