EX-99.1 2 h80832exv99w1.htm EX-99.1 exv99w1
Exhibit 99.1
(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 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       Shipyard               05/20/11   Scheduled downtime for ABS 5-year special survey/repairs for
approximately 88 days starting in February 2011
 
               Chevron   35-37     41     06/30/11  
2
   Hercules 150   150' — ILC, TD   GOM   Hilcorp   32-34     6     03/28/11    
 
               Hilcorp   39-41     100     07/06/11   Scheduled downtime for repairs for approximately 14 days starting in mid-July 2011
3
   Hercules 173   173' — MC, TD   GOM   Chevron   35-37     100     06/30/11   Scheduled downtime for ABS 5-year special survey/repairs for approximately 30 days starting in May 2011
4
   Hercules 200   200' — MC, TD   GOM   Apache   33-35     12     04/03/11   Scheduled downtime for ABS 5-year special survey/repairs for approximately 21 days starting in April 2011
5
   Hercules 201   200' — MC, TD   GOM   Chevron   35-37     49     05/10/11   Rig substitution for Hercules 120 during scheduled ABS special survey/repairs. Previous contract ended March 11, 2011.
6
   Hercules 202   200' — MC, TD   GOM   W&T Offshore   32-34     1     03/23/11    
 
                   36-38     63     05/25/11    
7
   Hercules 204   200' — MC, TD   GOM       Shipyard               03/28/11   Scheduled downtime for ABS 5-year special survey/repairs for approximately 60 days starting in late January 2011
8
   Hercules 205   200' — MC, TD   GOM   Prime   35-37     14     04/05/11    
9
   Hercules 251   250' — MS, TD   GOM       Ready Stacked                    
10
   Hercules 253   250' — MS, TD   GOM   ADTI/Contango   32-34     20     04/11/11   Contract commenced February 20, 2011
11
   Hercules 350   350' — ILC, TD   GOM   Chevron   73-75     100     06/30/11    
 
                   Average     46     days    
12
   Hercules 75   Submersible, TD   GOM   Cold Stacked 01/09                    
13
   Hercules 77   Submersible, TD   GOM   Cold Stacked 01/09                    
14
   Hercules 78   Submersible, TD   GOM   Cold Stacked 01/09                    
15
   Hercules 85   85' — ILS, TD   GOM   Cold Stacked 01/09                    
16
   Hercules 101   100' — MC, TD   GOM   Cold Stacked 01/09                    
17
   Hercules 152   150' — MC, TD   GOM   Cold Stacked 05/09                    
18
   Hercules 153   150' — MC, TD   GOM   Cold Stacked 01/09                    
19
   Hercules 203   200' — MC, TD   GOM   Cold Stacked 06/09                    
20
   Hercules 206   200' — MC, TD   GOM   Cold Stacked 12/09                    
21
   Hercules 207   200' — MC, TD   GOM   Cold Stacked 01/09                    
22
   Hercules 211   200' — MC Workover   GOM   Cold Stacked 01/09                    
23
   Hercules 250   250' — MS, TD   GOM   Cold Stacked 12/09                    
24
   Hercules 252   250' — MS, TD   GOM   Cold Stacked 05/09                    
25
   Hercules 257   250' — MS, TD   GOM   Cold Stacked 07/10                    

 

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 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 156   150' — ILC, TD   Bahrain       Cold Stacked                    
3
   Hercules 185   150' — ILC, TD   Gabon   CABGOC   59-61     1,057     02/11/14   Underwater inspection for five days in July 2011
4
   Platform 3   Platform, TD   Mexico   PEMEX   54-56     33     04/24/11    
5
   Hercules 258   250' — MS, TD   India   ONGC   109-111     74     06/04/11    
6
   Hercules 260   250' — ILC, TD   India   ONGC   142-144     16     04/07/11   Underwater inspection for seven days in April 2011
7
   Hercules 208   200' — MC, TD   Malaysia   Murphy   109-111     157     08/26/11    
8
   Hercules 261   250' — ILC, TD   Saudi Arabia   Saudi Aramco   136-138     192     09/30/11   Underwater inspection for 60 days in November 2011
9
   Hercules 262   250' — ILC, TD   Saudi Arabia   Saudi Aramco   127-129     192     09/30/11   Underwater inspection for seven days in November 2011
 
                   Average     215     days    

 

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Monthly Rig Fleet Status Report
as of
March 22, 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   Marlin   20-22     49     05/10/11   Contract commenced March 20, 2011; Previously contracted to Davis Petroleum from February 25 - March 10 at $20-22K dayrate
2
   Hercules 41   Posted — 3000 hp, TD   US Inland Gulf Coast   TPIC   19-21     25     04/16/11   Contact commenced March 22
3
   Hercules 49   Posted — 3000 hp, TD   US Inland Gulf Coast   McMoran   25-27     33     04/24/11    
 
                   Average     36     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. Rigs described as “Shipyard” are undergoing maintenance, repairs, or 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, although the average dayrate over the term of the contract will be lower and could be substantially lower. 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. In certain cases under our Inland Barge contracts dayrates include revenue for other vessels and services provided by Delta Towing. The dayrates do not include lump sum amounts reimbursable from the client, bonuses that are considered revenue under generally accepted accounting principles, or revenue already included in other Hercules business segments.
 
(3)   Estimated contract duration is an estimate based on current belief by our customer as to the remaining days to complete the project, subject to the satisfaction of regulatory and permitting requirements that are in effect.

 

 

(HERCULES OFFSHORE LOGO)
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
February 28, 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     $ 23,835       21       38 %    
170-215     4       4       13,720       42       38 %   Two vessels in drydock in February and March
140-150     6       6       7,764       58       35 %   Two vessels in drydock in February and one vessel in drydock in March
120-130     14       13       5,990       190       52 %   Three vessels in drydock in February and one vessel in drydock in March
105     15       13       4,694       93       26 %   Three vessels in drydock in February and one vessel in drydock in March; One additional vessel coldstacked in March
 
                                  
Sub-total/Average     41       38     $ 7,678       404       38 %    
 
                                            
International                                            
230-260     2       2     $ 54,483       25       45 %    
170-215     7       7       41,498       136       69 %   One vessel in drydock in February and three vessels in drydock in March
140-150     4       4       15,029       112       100 %    
120-130     7       7       12,054       136       69 %   Two vessels in drydock in February
105     4       3       10,727       60       71 %   One vessel in drydock in March
 
                                  
Sub-total/Average     24       23     $ 23,394       469       73 %    
 
                                            
 
                                  
Total/Average     65       61     $ 16,121       873       51 %    
 
(1)   Actively marketed liftboats excludes three 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.