Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HERCULES OFFSHORE, INC. | d337386d8k.htm |
Exhibit 99.1
|
Hercules Offshore Monthly Rig Fleet Status Report as of April 19, 2012 |
| Contract
(2) Dayrate ($000s) |
Est. Duration (3) | |||||||||||||||||||||
|
Rig Name |
Rig Type |
Location |
Customer /Status (1) | Days |
Date |
Comments | ||||||||||||||||
|
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Domestic Offshore |
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| 1 | Hercules 120 |
120' - MC, TD |
GOM |
Chevron | 35-37 | 72 | 06/30/12 |
One 6-month priced option at $37-39K dayrate (subject to cost escalation provisions). | ||||||||||||||
| 2 | Hercules 150 |
150' - ILC, TD |
GOM |
Arena | 54-56 | 23 | 05/12/12 |
Continuation of prior contract | ||||||||||||||
| Shipyard | 05/26/12 |
Scheduled downtime for approximately 14 days prior to contract commencement | ||||||||||||||||||||
| Apache | 59-61 | 90 | 08/24/12 |
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| 3 | Hercules 173 |
173' - MC, TD |
GOM |
Chevron | 37-39 | 72 | 06/30/12 |
One 6-month priced option at $37-39K dayrate (subject to cost escalation provisions). | ||||||||||||||
| 4 | Hercules 200 |
200' - MC, TD |
GOM |
Apache | 69-71 | 144 | 09/10/12 |
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| 5 | Hercules 201 |
200' - MC, TD |
GOM |
Stone Energy | 57-59 | 44 | 06/02/12 |
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| Stone Energy | 71-73 | 50 | 07/22/12 |
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| Stone Energy | 57-59 | 45 | 09/05/12 |
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| Hilcorp | 66-68 | 20 | 09/25/12 |
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| 6 | Hercules 202 |
200' - MC, TD |
GOM |
Ankor Energy | 59-61 | 31 | 05/20/12 |
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| Ankor Energy | 66-68 | 35 | 06/24/12 |
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| Breton | 57-59 | 120 | 10/22/12 |
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| W&T Offshore | 66-68 | 106 | 02/05/13 |
Scheduled downtime for approximately 7 days prior to contract commencement | ||||||||||||||||||
| W&T Offshore | 71-73 | 96 | 05/12/13 |
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| 7 | Hercules 204 |
200' - MC, TD |
GOM |
Hilcorp | 57-59 | 11 | 04/30/12 |
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| Shipyard | 05/14/12 |
Scheduled downtime for repairs | ||||||||||||||||||||
| Tarpon | 57-59 | 35 | 06/18/12 |
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| Tarpon | 51-53 | 30 | 07/18/12 |
Work originally contracted in October 2011 with Hercules 150. | ||||||||||||||||||
| Castex | 57-59 | 70 | 09/26/12 |
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| 8 | Hercules 205 |
200' - MC, TD |
GOM |
Energy XXI | 38-40 | 43 | 06/01/12 |
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| ADTI/Contango | 43-45 | 90 | 08/30/12 |
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| ADTI/Contango | 47-49 | 90 | 11/28/12 |
Scheduled downtime for UWILD for approximately 14 days starting in October | ||||||||||||||||||
| 9 | Hercules 212 |
200' - MC, TD |
GOM |
ENI | 48-50 | 4 | 04/23/12 |
Contract rate based on prior commitment made in October 2011. | ||||||||||||||
| Shipyard | 06/07/12 |
Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days | ||||||||||||||||||||
| ENI | 66-68 | 30 | 07/07/12 |
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| Bois d'Arc | 61-63 | 70 | 09/15/12 |
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| Monforte | 69-71 | 45 | 10/30/12 |
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| 10 | Hercules 213 |
200' - MC, TD |
GOM |
EPL | 54-56 | 79 | 07/07/12 |
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| 71-73 | 64 | 09/09/12 |
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| 11 | Hercules 214 |
200' - MC, TD |
GOM |
Apache | 51-53 | 31 | 05/20/12 |
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| Apache | 66-68 | 90 | 08/18/12 |
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| 12 | Hercules 251 |
250' - MS, TD |
GOM |
Walter Oil & Gas | 47-49 | 72 | 06/30/12 |
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| 57-59 | 120 | 10/28/12 |
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| 13 | Hercules 253 |
250' - MS, TD |
GOM |
Tana | 47-49 | 66 | 06/24/12 |
Special survey due by third quarter 2012 | ||||||||||||||
| 14 | Hercules 263 |
250' - MC, TD |
GOM |
Tana | 59-61 | 11 | 04/30/12 |
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| Arena | 59-61 | 40 | 06/09/12 |
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| Shipyard | 07/24/12 |
Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days | ||||||||||||||||||||
| Arena | 59-61 | 80 | 10/12/12 |
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| 15 | Hercules 264 |
250' - MC, TD |
GOM |
Chevron | 56-58 | 4 | 04/23/12 |
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| 71-73 | 28 | 05/21/12 |
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| Hall-Houston | 79-81 | 70 | 07/30/12 |
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| Pisces | 86-88 | 120 | 11/27/12 |
Contract reassigned from Hercules 350 to Hercules 264 | ||||||||||||||||||
| 16 | Hercules 265 |
250' - MC, TD |
GOM |
Stone Energy | 56-58 | 10 | 04/29/12 |
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| Shipyard | 06/13/12 |
Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days | ||||||||||||||||||||
| EPL | 64-66 | 50 | 08/02/12 |
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| ENI | 81-83 | 45 | 09/16/12 |
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| Gulf Coast Energy Resources |
67-69 | 60 | 11/15/12 |
Contract rate based on prior commitment made in December 2011 | ||||||||||||||||||
| 17 | Hercules 300 |
300' - MC, TD |
GOM |
Arena | 74-76 | 67 | 06/25/12 |
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| 79-81 | 120 | 10/23/12 |
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| 18 | Hercules 350 |
350' - ILC, TD |
GOM |
Tarpon | 104-106 | 11 | 04/30/12 |
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| Hall-Houston | 104-106 | 35 | 06/04/12 |
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| W&T Offshore | 104-106 | 30 | 07/04/12 |
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| Ankor Energy | 104-106 | 26 | 07/30/12 |
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| Monforte | 104-106 | 50 | 09/18/12 |
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| Shipyard | 11/02/12 |
Scheduled downtime for ABS 5-year special survey/repairs for approximately 45 days | ||||||||||||||||||||
| Average | 158 | days |
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Page 1 of 5
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|
Hercules Offshore Monthly Rig Fleet Status Report as of April 19, 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' - 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 | ||||||||||||||
Page 2 of 5
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Hercules Offshore Monthly Rig Fleet Status Report as of April 19, 2012 |
| Contract
(2) Dayrate ($000s) |
Est. Duration (3) | |||||||||||||||||||||
|
Rig Name |
Rig Type |
Location |
Customer /Status (1) | Days |
Date |
Comments | ||||||||||||||||
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International Offshore |
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| 1 | Hercules 170 |
170' - ILC, TD |
Bahrain |
Warm Stacked | ||||||||||||||||||
| 2 | Hercules 185 |
150' - ILC, TD |
Enroute | 04/25/12 |
Under tow from U.S. GOM to Angola | |||||||||||||||||
| Angola |
CABGOC | 59-61 | 657 | 02/11/14 |
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| 3 | Platform 3 |
Platform, TD |
Mexico |
PEMEX | 49-51 | 1,240 | 09/11/15 |
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| 4 | Hercules 258 |
250' - MS, TD |
Malaysia |
Warm Stacked | ||||||||||||||||||
| 5 | Hercules 260 |
250' - ILC, TD |
Democratic Republic of Congo |
Perenco | 74-76 | 148 | 09/14/12 |
One 6-month priced option. Special survey due by fourth quarter 2012. | ||||||||||||||
| 6 | Hercules 208 |
200' - MC, TD |
Indonesia |
Zaratex | 99-101 | 77 | 07/05/12 |
Rig on reduced mob rate starting April 6; operating rate commenced April 16. Two 45 day priced options. Scheduled downtime for UWILD for approximately 14 days due by third quarter 2012. | ||||||||||||||
| 7 | Hercules 261 |
250' - ILC, TD |
Saudi Arabia |
Shipyard | 04/20/12 |
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| Saudi Aramco | 83-85 | 892 | 09/29/14 |
Contract scheduled to resume April 21, 2012. Will receive lump sum payment to approximate contract preparation costs. | ||||||||||||||||||
| 8 | Hercules 262 |
250' - ILC, TD |
Saudi Arabia |
Shipyard | 06/14/12 |
Anticipated downtime for approximately 110-120 days starting in February. Will receive lump sum payment to approximate contract preparation costs. | ||||||||||||||||
| Saudi Aramco | 79-81 | 877 | 11/08/14 |
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| 9 | Hercules 266 |
250' - ILC, TD |
GOM /Enroute |
Shipyard / Enroute | 06/20/12 |
Contract preparation work and 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 | 554 | days |
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| 10 | Hercules 156 |
150' - ILC, TD |
Bahrain |
Cold Stacked 12/10 | ||||||||||||||||||
Page 3 of 5
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Hercules Offshore Monthly Rig Fleet Status Report as of April 19, 2012 |
| Contract
(2) Dayrate ($000s) |
Est. Duration (3) | |||||||||||||||||||||
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Rig Name |
Rig Type |
Location |
Customer /Status (1) | Days |
Date |
Comments | ||||||||||||||||
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US Inland Barges |
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| 1 | Hercules 17 |
Posted - 3000 hp, TD |
US Inland Gulf Coast |
TPIC | 21-23 | 2 | 04/21/12 |
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| Davis Petroleum | 26-28 | 50 | 06/10/12 |
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| 2 | Hercules 41 |
Posted - 3000 hp, TD |
US Inland Gulf Coast |
Castex | 24-26 | 47 | 06/05/12 |
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| 3 | Hercules 49 |
Posted - 3000 hp, TD |
US Inland Gulf Coast |
Dynamic | 25-27 | 7 | 04/26/12 |
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| Square Mile | 20-22 | 35 | 05/31/12 |
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| Average | 47 | days |
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| 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
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Hercules Offshore Liftboat Fleet Status Report for the month ended March 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 |
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| 230 | 2 | 2 | $ | 17,906 | 29 | 47% | |||||||||||||||||||||
| 170-215 | 4 | 4 | 13,657 | 47 | 38% | Two vessels in drydock in March and April | |||||||||||||||||||||
| 140-150 | 5 | 5 | 9,103 | 107 | 69% | One vessel in drydock in April | |||||||||||||||||||||
| 120-130 | 14 | 12 | 7,013 | 193 | 52% | Four vessels in drydock in March and April | |||||||||||||||||||||
| 105 | 15 | 11 | 5,311 | 136 | 40% | Three vessels in drydock in March and April | |||||||||||||||||||||
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| Sub-total/Average | 40 | 34 | $ | 8,225 | 512 | 49% | |||||||||||||||||||||
| International |
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| 230-260 | 2 | 2 | $ | 51,775 | 56 | 90% | |||||||||||||||||||||
| 170-215 | 6 | 6 | 30,435 | 105 | 56% | ||||||||||||||||||||||
| 140-150 | 4 | 4 | 15,853 | 105 | 85% | ||||||||||||||||||||||
| 120-130 | 7 | 7 | 11,537 | 155 | 71% | One vessel in drydock in March and two vessels in drydock in April | |||||||||||||||||||||
| 105 | 4 | 1 | - | - | 0% | ||||||||||||||||||||||
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| Sub-total/Average | 23 | 20 | $ | 22,679 | 421 | 68% | |||||||||||||||||||||
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| Total/Average | 63 | 54 | $ | 14,747 | 933 | 56% | |||||||||||||||||||||
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| (1) | Actively marketed liftboats excludes six GOM cold-stacked liftboats and three Nigeria cold-stacked liftboats. |
| (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