EX-99.1 2 d936115dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

CONFIDENTIAL — PREPARED AT THE REQUEST OF COUNSEL — PRELIMINARY DRAFT SUBJECT TO MATERIAL CHANGE

 

 

LOGO

SELECTED FINANCIAL PROJECTIONS

DISCLAIMER AND CAUTIONARY STATEMENT

Management of Hercules Offshore Inc. (“Hercules” or the “Company”) has prepared this financial forecast and has not received an opinion or report on it from any independent auditor. The assumptions and estimates underlying the forecast are substantially driven by estimated activity levels of our customers and, although we consider our assumptions as to activity levels reasonable as of the date these projections were prepared, those estimates and our ability to achieve anticipated results are subject to a wide variety of significant business, economic and competitive risks and uncertainties, including those related to commodity prices, that could cause actual results to differ materially from those contained in the forecast. This forecast is a forward-looking statement and should be read together with our historical financial statements and public filings with the Securities and Exchange Commission, including the risk factors and cautionary statements in our public filings, as well as our fleet status reports made public from time to time. The financial projections were not prepared with a view toward complying with the guidelines established by the American Institute of Certified Public Accountants with respect to prospective financial information, but, in the view of our management, were prepared on a reasonable basis based on our currently available estimates and judgments. The financial projections and underlying assumptions are not factual and should not be relied upon as being a representation by us or necessarily indicative of future results, and you are cautioned not to place undue reliance on this information. We do not prepare projections in the ordinary course of our business and do not anticipate that we will continue to prepare or update projections in the future.

The attached materials are Confidential Information provided under and subject to the provisions of the Confidentiality Agreement between you and the Company. The attached materials are prepared for illustrative purposes only and constitute preliminary drafts that are subject to revision or adjustment at any time without notice. The Company assumes no duty to any recipient of the materials to update them at any time. Any party in possession of these materials should not rely upon them or any express or implied assumptions underlying, or incorporated by reference into, the materials for any purpose.


CONFIDENTIAL — PREPARED AT THE REQUEST OF COUNSEL — PRELIMINARY DRAFT SUBJECT TO MATERIAL CHANGE

SELECTED FINANCIAL PROJECTIONS

$ in millions

 

     2015E Quarterly Projections     2016E Quarterly Projections     2017E Quarterly Projections  
     1QE      2QE     3QE     4QE     2015E     1QE     2QE      3QE      4QE      2016E     1QE      2QE      3QE      4QE      2017E  

Total Revenue

   $ 123       $ 80      $ 104      $ 97      $ 403      $ 105      $ 128       $ 155       $ 162       $ 550      $ 178       $ 197       $ 205       $ 199       $ 779   

Segment Revenue Breakdown % Range

                                      

Domestic Offshore

              40%-45                30%-35                 35%-40

International Offshore

              35%-40                45%-50                 45%-50

International Liftboats

              20%-25                20%-25                 15%-20

Operating Expenses

     100         100        92        92        384        99        106         121         120         446        122         127         131         130         510   

General & Administrative

     16         16        16        16        65        16        16         16         16         65        17         17         17         17         67   

EBITDA

     7         (36     (5     (12     (45     (9     6         18         25         39        39         53         58         52         202   

Capital Expenditures

     31         60        19        20        130        18        224         14         13         270        28         28         28         28         113