EX-99.1 2 h84332kexv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
(HERCULES LOGO)
Hercules Offshore
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 LOGO)
Hercules Offshore
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 LOGO)
Hercules Offshore
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 LOGO)
Hercules Offshore
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 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 LOGO)
Hercules Offshore
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 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