EX-99.1 2 d369849dex991.htm HERCULES OFFSHORE FLEET STATUS REPORT Hercules Offshore Fleet Status Report

Exhibit 99.1

 

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

June 20, 2012

  

 

                      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     37-39      194  

12/31/12

  
  2     

Hercules 150

  

150’ - ILC, TD

  

GOM

   Arena     54-56      27  

07/17/12

   Continuation of prior contract
          Shipyard      

07/31/12

   Scheduled downtime for approximately 14 days prior to contract commencement
        Apache

Chevron

    

 

 59-61

74-76

   

  

  

90

30

  

10/29/12

11/28/12

  
  3     

Hercules 173

  

173’ - MC, TD

  

GOM

   Chevron     37-39      194  

12/31/12

  
  4     

Hercules 200

  

200’ - MC, TD

  

GOM

   Apache     69-71      92  

09/20/12

  
  5     

Hercules 201

  

200’ - MC, TD

  

GOM

   Stone Energy     71-73      —    

06/20/12

  
        Stone Energy     57-59      45  

08/04/12

  
        Hilcorp     66-68      20  

08/24/12

  
        EPL     74-76      90  

11/22/12

  
  6     

Hercules 202

  

200’ - MC, TD

  

GOM

   Ankor Energy     66-68      28  

07/18/12

  
        Breton     57-59      120  

11/15/12

  
        W&T Offshore     66-68      106  

03/01/13

   Scheduled downtime for approximately 7 days prior to contract commencement
        W&T Offshore     71-73      96  

06/05/13

  
  7     

Hercules 204

  

200’ - MC, TD

  

GOM

     Shipyard      

06/30/12

   Previous contract ended June 16. Scheduled downtime for repairs.
        Tarpon     57-59      35  

08/04/12

  
        Castex     57-59      30  

09/03/12

  
        Tarpon     51-53      30  

10/03/12

   Work originally contracted in October 2011 with Hercules 150.
        Castex     57-59      35  

11/07/12

  
  8     

Hercules 205

  

200’ - MC, TD

  

GOM

   Energy XXI     38-40      3  

06/23/12

  
        ADTI/Contango     43-45      90  

09/21/12

   Company elected to shorten ADTI/Contango contract term by 90 days due to rig availability, with reassignment of contract term under negotiation. Scheduled downtime for UWILD for approximately 21 days starting in October.
  9     

Hercules 212

  

200’ - MC, TD

  

GOM

     Shipyard      

07/11/12

   Scheduled downtime for ABS 5-year special survey/repairs for approximately 60-70 days
        ENI     66-68      30  

08/10/12

  
        Bois d'Arc     61-63      70  

10/19/12

  
        Rooster Petroleum     74-76      45  

12/03/12

  
        Monforte     69-71      45  

01/17/13

  
  10     

Hercules 213

  

200’ - MC, TD

  

GOM

   EPL     54-56      56  

08/15/12

  
            71-73      64  

10/18/12

  
  11     

Hercules 214

  

200’ - MC, TD

  

GOM

   Apache     51-53      16  

07/06/12

  
            66-68      90  

10/04/12

  
  12     

Hercules 251

  

250’ - MS, TD

  

GOM

   Walter Oil & Gas     47-49      50  

08/09/12

  
        Walter Oil & Gas     57-59      60  

10/08/12

  
        Hall-Houston     57-59      17  

10/25/12

  
  13     

Hercules 253

  

250’ - MS, TD

  

GOM

   Tana     47-49      61  

08/20/12

  
          Shipyard      

10/04/12

   Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days
        Tana     74-76      192  

04/14/13

  
  14     

Hercules 263

  

250’ - MC, TD

  

GOM

   Arena     59-61      —    

06/20/12

  
          Shipyard      

08/04/12

   Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days
        Arena     59-61      80  

10/23/12

  
  15     

Hercules 264

  

250’ - MC, TD

  

GOM

   Hall-Houston     79-81      44  

08/03/12

  
        Pisces     86-88      120  

12/01/12

   Contract reassigned from Hercules 350 to Hercules 264
  16     

Hercules 265

  

250’ - MC, TD

  

GOM

     Shipyard      

07/10/12

   Scheduled downtime for ABS 5-year special survey/repairs for approximately 60-70 days
        EPL     64-66      64  

09/12/12

  
        ENI     81-83      45  

10/27/12

  
        Gulf Coast Energy Resources     67-69      60  

12/26/12

   Contract rate based on prior commitment made in December 2011.
  17     

Hercules 300

  

300’ - MC, TD

  

GOM

   Arena     74-76      13  

07/03/12

  
            79-81      120  

10/31/12

  
  18     

Hercules 350

  

350’ - ILC, TD

  

GOM

   Hall-Houston     104-106      2  

06/22/12

  
        W&T Offshore     104-106      30  

07/22/12

  
          Shipyard      

09/05/12

   Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days
        Monforte     104-106      50  

10/25/12

  
        Ankor Energy     104-106      26  

11/20/12

  
            Average      156  

days

  

 

Page 1 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

June 20, 2012

  

 

                      Contract (2)
Dayrate  ($000s)		   Est. Duration (3)    
     

    Rig Name    

  

    Rig Type    

  

Location

   Customer / Status (1)         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 257

  

250’ - MS, TD

  

GOM

     Cold Stacked 07/10        
  32     

Hercules 259

  

250’ - MS, TD

  

GOM

     Cold Stacked 02/10        
  33     

Hercules 2002

  

200’ - MC, TD

  

GOM

     Cold Stacked 10/08        
  34     

Hercules 2003

  

200’ - MC, TD

  

GOM

     Cold Stacked 02/09        
  35     

Hercules 2500

  

250’ - MS, TD

  

GOM

     Cold Stacked 02/09        
  36     

Hercules 2501

  

250’ - MS, TD

  

GOM

     Cold Stacked 01/10         Sold in June 2012 for approximately $7 million

 

Page 2 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

June 20, 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 185

  

150’ - ILC, TD

  

Angola

     Shipyard      

TBD

   Refer to language in Form 8-K, dated June 5, 2012
        CABGOC     59-61       

02/11/14

  
  3     

Platform 3

  

Platform, TD

  

Mexico

   PEMEX     49-51        1,178     

09/11/15

  
  4     

Hercules 208

  

200’ - MC, TD

  

Indonesia

   Zaratex     99-101        41     

07/31/12

   One 45-day priced option. Scheduled downtime for UWILD for approximately 14 days due by second quarter 2013.
        Petronas     99-101        45     

09/14/12

   Contract assignment from Zaratex
  5     

Hercules 258

  

250’ - MS, TD

  

Malaysia

     Warm Stacked        
  6     

Hercules 260

  

250’ - ILC, TD

  

Cameroon

   Perenco     74-76        86     

09/14/12

  
            89-91        180     

03/13/13

   Special survey due by fourth quarter 2012.
  7     

Hercules 261

  

250’ - ILC, TD

  

Saudi Arabia

   Saudi Aramco     83-85        831     

09/29/14

   Will receive lump sum payment to approximate contract preparation costs.
  8     

Hercules 262

  

250’ - ILC, TD

  

Saudi Arabia

     Shipyard      

07/07/12

   Anticipated downtime for approximately 125-135 days starting in February. Will receive lump sum payment to approximate contract preparation costs.
        Saudi Aramco     79-81        854     

11/08/14

  
  9     

Hercules 266

  

250’ - ILC, TD

  

Enroute

     Enroute      

07/02/12

   Mobilization to the Middle East
     

Saudi Arabia

     Shipyard      

11/30/12

   Contract preparation work
        Saudi Aramco     124-126        1,095     

11/30/15

   Will receive lump sum payment upon contract commencement
            Average        479     

days

  
               
  10     

Hercules 156

  

150’ - ILC, TD

  

Bahrain

     Cold Stacked 12/10        

 

Page 3 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

June 20, 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

     Davis Petroleum     26-28        5     

06/25/12

  
  2     

Hercules 41

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

     Castex     24-26        4     

06/24/12

  
  3     

Hercules 49

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

     Square Mile     20-22        28     

07/18/12

  
            25-27        22     

08/09/12

  
            Average        20     

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 - 3000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 03/09        
  16     

Hercules 57

  

Posted - 2000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 01/09        
  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, 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

LOGO  

Hercules Offshore

Liftboat Fleet Status Report

for the month ended

May 31, 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       $ 25,273         26         84%    
170-215       4          4         14,755         123         99%     One vessel in drydock in June
140-150       5          5         10,097         118         76%     Two vessels in drydock in May and June
120-130       14          12         7,314         222         60%     Four vessels in drydock in May and two vessels in drydock in June
105       15          10         5,997         218         70%     Four vessels in drydock in May and three vessels in drydock in June
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Sub-total/Average       39          32       $ 9,327         707         71%    

International

                      
230-260       3          2       $ 51,338         39         63%    
170-215       6          6         37,340         183         98%    
140-150       4          4         16,672         124         100%    
120-130       7          7         13,305         119         55%     Three vessels in drydock in May and two vessels in drydock in June
105       4          1         10,000         31         100%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Sub-total/Average       24          20       $ 25,798         496         80%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Total/Average       63          52       $ 16,118         1,203         75%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    

 

(1) Actively marketed liftboats excludes seven GOM cold-stacked liftboats and three Nigeria cold-stacked liftboats. The Kingfish, a 230’ class liftboat, is currently en route to the Middle East from the U.S. GOM and will be undergoing upgrades prior to becoming reactivated.

 

(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