EX-99.1 2 d427674dex991.htm HERCULES OFFSHORE FLEET STATUS REPORT Hercules Offshore Fleet Status Report

Exhibit 99.1

 

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

October 23, 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     39-41        69     

12/31/12

  
  2     

Hercules 150

  

150’ - ILC, TD

  

GOM

   Apache     61-63        79     

01/10/13

   Contract commenced October 11
        Chevron     74-76        60     

03/11/13

  
        Arena     76-78        70     

05/20/13

  
  3     

Hercules 173

  

173’ - MC, TD

  

GOM

   Chevron     39-41        69     

12/31/12

  
  4     

Hercules 200

  

200’ - MC, TD

  

GOM

   Apache     71-73        69     

12/31/12

  
            79-81        90     

03/31/13

   Scheduled downtime of 45 days in the second quarter 2013
  5     

Hercules 201

  

200’ - MC, TD

  

GOM

   EPL     76-78        76     

01/07/13

   Contract commenced October 9
            81-83        90     

04/07/13

  
  6     

Hercules 202

  

200’ - MC, TD

  

GOM

   W&T Offshore     66-68        99     

01/30/13

  
            71-73        96     

05/06/13

  
  7     

Hercules 204

  

200’ - MC, TD

  

GOM

   Castex     57-59        22     

11/14/12

  
        Tarpon     51-53        30     

12/14/12

   Work originally contracted in October 2011 with Hercules 150.
        Castex     57-59        45     

01/28/13

  
        Castex     81-83        40     

03/09/13

  
  8     

Hercules 205

  

200’ - MC, TD

  

GOM

   ADTI/Contango     43-45        2     

10/25/12

  
          Shipyard      

11/29/12

   Scheduled downtime for UWILD
        Black Elk     81-83        90     

02/27/13

   ABS 5-year special survey scheduled for the second quarter 2013; estimated downtime of 90 days
  9     

Hercules 212

  

200’ - MC, TD

  

GOM

   Bois d’Arc     61-63        41     

12/03/12

  
        Rooster Petroleum     76-78        45     

01/17/13

  
        Monforte     89-91        30     

02/16/13

  
  10     

Hercules 213

  

200’ - MC, TD

  

GOM

   EPL     74-76        51     

12/13/12

  
            81-83        120     

04/12/13

  
  11     

Hercules 214

  

200’ - MC, TD

  

GOM

   Apache     69-71        53     

12/15/12

  
            79-81        180     

06/13/13

  
  12     

Hercules 251

  

250’ - MS, TD

  

GOM

   Walter Oil & Gas     57-59        23     

11/15/12

  
        Walter Oil & Gas     60-62        60     

01/14/13

  
        Hall-Houston     79-81        22     

02/05/13

  
        Hall-Houston     74-76        38     

03/15/13

  
        Hall-Houston     57-59        17     

04/01/13

   Prior contract reassignment
        Hall-Houston     74-76        45     

05/16/13

   ABS 5-year special survey scheduled for the fourth quarter 2013; estimated downtime of 90 days
  13     

Hercules 253

  

250’ - MS, TD

  

GOM

     Shipyard      

12/06/12

   Scheduled downtime for ABS 5-year special survey/repairs commenced October 22, 2012.
        Tana     74-76        192     

06/16/13

  
  14     

Hercules 263

  

250’ - MC, TD

  

GOM

     Shipyard      

11/02/12

   Scheduled downtime for ABS 5-year special survey/repairs commenced June 27, 2012
        Arena     62-64        93     

02/03/13

  
        Tana     86-88        120     

06/03/13

  
        Tana     89-91        130     

10/11/13

  
  15     

Hercules 264

  

250’ - MC, TD

  

GOM

   Apache     86-88        9     

11/01/12

  
        Energy XXI     89-91        75     

01/15/13

  
        Castex     86-88        210     

08/13/13

   ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days
  16     

Hercules 265

  

250’ - MC, TD

  

GOM

   ENI     81-83        5     

10/28/12

  
        Gulf Coast Energy Resources     67-69        60     

12/27/12

   Contract rate based on prior commitment made in December 2011.
        EPL     89-91        90     

03/27/13

  
  17     

Hercules 300

  

300’ - MC, TD

  

GOM

   Arena     79-81        —     

10/23/12

  
            86-88        120     

02/20/13

   ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days
  18     

Hercules 350

  

350’ - ILC, TD

  

GOM

     Shipyard      

11/27/12

   Scheduled downtime for ABS 5-year special survey/repairs commenced September 28, 2012
        Cimarex     109-111        205     

06/20/13

  
            Average        174     

days

  

 

Page 1 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

October 23, 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 153

  

150’ - MC, TD

  

GOM

     Cold Stacked 01/09        
  23     

Hercules 203

  

200’ - MC, TD

  

GOM

     Cold Stacked 06/09        
  24     

Hercules 206

  

200’ - MC, TD

  

GOM

     Cold Stacked 12/09        
  25     

Hercules 207

  

200’ - MC, TD

  

GOM

     Cold Stacked 01/09        
  26     

Hercules 209

  

200’ - MC

  

GOM

     Cold Stacked 01/09        
  27     

Hercules 211

  

200’ - MC Workover

  

GOM

     Cold Stacked 01/09        
  28     

Hercules 250

  

250’ - MS, TD

  

GOM

     Cold Stacked 12/09        
 

Hercules 252

  

250’ - MS, TD

  

GOM

     Cold Stacked 05/09         Sold in October 2012 for approximately $8 million
  29     

Hercules 257

  

250’ - MS, TD

  

GOM

     Cold Stacked 07/10        
  30     

Hercules 259

  

250’ - MS, TD

  

GOM

     Cold Stacked 02/10        
  31     

Hercules 2002

  

200’ - MC, TD

  

GOM

     Cold Stacked 10/08        
  32     

Hercules 2003

  

200’ - MC, TD

  

GOM

     Cold Stacked 02/09        
  33     

Hercules 2500

  

250’ - MS, TD

  

GOM

     Cold Stacked 02/09        

 

Page 2 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

October 23, 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 208

  

200’ - MC, TD

  

Indonesia

   Seruway     99-101        12     

11/04/12

  
          Enroute      

11/18/12

  
     

Myanmar

   PTTEP     95-97        135     

04/02/13

   45 day priced option at $95 - $97K dayrate
  3     

Hercules 260

  

250’ - ILC, TD

  

Cameroon

   Perenco     89-91        23     

11/15/12

  
          Shipyard      

01/14/13

   Scheduled downtime for ABS 5-year special survey/repairs
        Perenco     89-91        119     

05/13/13

  
  4     

Hercules 261

  

250’ - ILC, TD

  

Saudi Arabia

   Saudi Aramco     83-85        706     

09/29/14

  
  5     

Hercules 262

  

250’ - ILC, TD

  

Saudi Arabia

   Saudi Aramco     79-81        746     

11/08/14

  
  6     

Hercules 266

  

250’ - ILC, TD

  

Saudi Arabia

     Shipyard      

01/31/13

   Contract preparation work
        Saudi Aramco     120-122        1,033     

11/30/15

   Will receive lump sum payment upon contract commencement. Revised dayrate to reflect late delivery penalty.
            Average        462     

days

  
               
  7     

Hercules 156

  

150’ - ILC, TD

  

Bahrain

     Cold Stacked 12/10        
  8     

Hercules 258

  

250’ - MS, TD

  

Malaysia

     Cold Stacked 10/12        

 

Page 3 of 5

LOGO  

Hercules Offshore

Monthly Rig Fleet Status Report

as of

October 23, 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

   EPL     27-29        12     

11/04/12

   Contract commenced October 1
  2     

Hercules 41

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

   Castex     26-28        66     

12/28/12

  
  3     

Hercules 49

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

   Square Mile     22-24        24     

11/16/12

  
            Average        34     

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         Converting to training rig
  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 46

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 01/09        
  12     

Hercules 48

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 03/09        
  13     

Hercules 52

  

Posted - 2000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 01/09        
  14     

Hercules 55

  

Posted - 3000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 03/09        
  15     

Hercules 57

  

Posted - 2000 hp, TD

  

US Inland Gulf Coast

     Cold Stacked 01/09        
  16     

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

September 30, 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       $ 26,077         30         100%    
170-215       4          4         15,567         106         88%    
140-150       5          5         9,028         104         69%     One vessel in drydock in September
120-130       14          12         6,994         264         73%     Three vessels in drydock in September and two vessels in drydock in October
105       15          10         6,133         163         54%     Two vessels in drydock in September and October
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Sub-total/Average       39          32       $ 9,321         667         69%    

International

                      
230-260       3          2       $ 41,294         20         33%     One vessel in shipyard for repairs in September and one vessel in drydock in September
170-215       6          6         35,184         150         83%     One vessel in drydock in October
140-150       4          4         14,790         90         75%     One vessel in drydock in October
120-130       7          7         13,205         96         46%     One vessel in drydock in September and October
105       4          2         12,056         30         50%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Sub-total/Average       24          21       $ 23,482         386         61%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    
Total/Average       63          53       $  14,512         1,053         66%    
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

    

 

(1) Actively marketed liftboats excludes seven GOM cold-stacked liftboats and two Nigeria cold-stacked liftboats. The Kingfish, a 230’ class liftboat, arrived in the Middle East from the U.S. GOM in July 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