Attached files
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| 8-K - 8-K - HERCULES OFFSHORE, INC. | nov12fsr8k.htm |
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 28, 2012
Exhibit 99.1
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 | 33 | 12/31/12 | |||||||||
64-66 | 365 | 12/31/13 | ||||||||||||||
2 | Hercules 150 | 150’ - ILC, TD | GOM | Apache | 61-63 | 51 | 01/18/13 | |||||||||
Chevron | 74-76 | 60 | 03/19/13 | |||||||||||||
Arena | 76-78 | 70 | 05/28/13 | |||||||||||||
3 | Hercules 173 | 173’ - MC, TD | GOM | Chevron | 39-41 | 33 | 12/31/12 | |||||||||
64-66 | 365 | 12/31/13 | ||||||||||||||
4 | Hercules 200 | 200’ - MC, TD | GOM | Apache | 71-73 | 65 | 02/01/13 | |||||||||
79-81 | 90 | 05/02/13 | Scheduled downtime of 45 days in the second quarter 2013 | |||||||||||||
5 | Hercules 201 | 200’ - MC, TD | GOM | EPL | 76-78 | 40 | 01/07/13 | |||||||||
81-83 | 90 | 04/07/13 | ||||||||||||||
6 | Hercules 202 | 200’ - MC, TD | GOM | W&T Offshore | 66-68 | 72 | 02/08/13 | |||||||||
71-73 | 96 | 05/15/13 | ||||||||||||||
84-86 | 94 | 08/17/13 | ||||||||||||||
7 | Hercules 204 | 200’ - MC, TD | GOM | Castex | 57-59 | 2 | 11/30/12 | |||||||||
Tarpon | 51-53 | 30 | 12/30/12 | Work originally contracted in October 2011 with Hercules 150. | ||||||||||||
Castex | 57-59 | 45 | 02/13/13 | |||||||||||||
Castex | 81-83 | 40 | 03/25/13 | |||||||||||||
8 | Hercules 205 | 200’ - MC, TD | GOM | Shipyard | 12/07/12 | Scheduled downtime for UWILD | ||||||||||
Black Elk | 81-83 | 90 | 03/07/13 | |||||||||||||
84-86 | 180 | 09/03/13 | ABS 5-year special survey scheduled for the second quarter 2013; estimated downtime of 90 days | |||||||||||||
9 | Hercules 209 | 200' - MC, TD | GOM | Shipyard | 04/30/13 | Rig reactivation | ||||||||||
Razor/Emerald | 86-88 | 35 | 06/04/13 | |||||||||||||
10 | Hercules 212 | 200’ - MC, TD | GOM | Bois d’Arc | 61-63 | 2 | 11/30/12 | |||||||||
Rooster Petroleum | 76-78 | 45 | 01/14/13 | |||||||||||||
Monforte | 89-91 | 30 | 02/13/13 | |||||||||||||
W&T Offshore | 84-86 | 95 | 05/19/13 | |||||||||||||
11 | Hercules 213 | 200’ - MC, TD | GOM | EPL | 74-76 | 79 | 02/15/13 | |||||||||
81-83 | 120 | 06/15/13 | ||||||||||||||
12 | Hercules 214 | 200’ - MC, TD | GOM | Apache | 69-71 | 22 | 12/20/12 | |||||||||
79-81 | 180 | 06/18/13 | ||||||||||||||
13 | Hercules 251 | 250’ - MS, TD | GOM | Walter Oil & Gas | 57-59 | 2 | 11/30/12 | |||||||||
Walter Oil & Gas | 60-62 | 60 | 01/29/13 | |||||||||||||
Hall-Houston | 79-81 | 22 | 02/20/13 | |||||||||||||
Hall-Houston | 74-76 | 38 | 03/30/13 | |||||||||||||
Hall-Houston | 57-59 | 17 | 04/16/13 | Prior contract reassignment | ||||||||||||
Hall-Houston | 74-76 | 45 | 05/31/13 | ABS 5-year special survey scheduled for the fourth quarter 2013; estimated downtime of 90 days | ||||||||||||
14 | Hercules 253 | 250’ - MS, TD | GOM | Shipyard | 01/01/13 | Scheduled downtime for ABS 5-year special survey/repairs commenced October 22, 2012. | ||||||||||
Tana | 74-76 | 190 | 07/10/13 | |||||||||||||
15 | Hercules 263 | 250’ - MC, TD | GOM | Arena | 62-64 | 78 | 02/14/13 | Contract commenced on November 16, 2012. | ||||||||
Tana | 89-91 | 85 | 05/10/13 | |||||||||||||
Tana | 86-88 | 120 | 09/07/13 | |||||||||||||
16 | Hercules 264 | 250’ - MC, TD | GOM | Energy XXI | 89-91 | 84 | 02/20/13 | |||||||||
Castex | 86-88 | 210 | 09/18/13 | ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days | ||||||||||||
17 | Hercules 265 | 250’ - MC, TD | GOM | Gulf Coast Energy Resources | 67-69 | 17 | 12/15/12 | Contract rate based on prior commitment made in December 2011. | ||||||||
EPL | 89-91 | 90 | 03/15/13 | |||||||||||||
Page 1 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 28, 2012
Contract (2) Dayrate ($000s) | Est. Duration (3) | |||||||||||||||||
Rig Name | Rig Type | Location | Customer / Status (1) | Days | Date | Comments | ||||||||||||
18 | Hercules 300 | 300' - MC, TD | GOM | Arena | 86-88 | 84 | 02/20/13 | |||||||||||
96-98 | 130 | 06/30/13 | ||||||||||||||||
Shipyard | 09/28/13 | ABS 5-year special survey scheduled for the third quarter 2013; estimated downtime of 90 days | ||||||||||||||||
Arena | 96-98 | 235 | 05/21/13 | |||||||||||||||
99-101 | 180 | 11/17/14 | ||||||||||||||||
19 | Hercules 350 | 350' - ILC, TD | GOM | Shipyard | 12/10/12 | Scheduled downtime for ABS 5-year special survey/repairs commenced September 28, 2012 | ||||||||||||
Cimarex | 109-111 | 205 | 07/30/13 | |||||||||||||||
Average | 232 | days | ||||||||||||||||
20 | Hercules 75 | Submersible, TD | GOM | Cold Stacked 01/09 | |||||||||||||
21 | Hercules 77 | Submersible, TD | GOM | Cold Stacked 01/09 | |||||||||||||
22 | Hercules 85 | 85’ - ILS, 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 211 | 200’ - MC Workover | GOM | Cold Stacked 01/09 | |||||||||||||
28 | Hercules 250 | 250’ - MS, TD | GOM | Cold Stacked 12/09 | |||||||||||||
Hercules 257 | 250’ - MS, TD | GOM | Cold Stacked 07/10 | Sold in November 2012 | |||||||||||||
Hercules 259 | 250’ - MS, TD | GOM | Cold Stacked 02/10 | Sold in November 2012 | |||||||||||||
29 | Hercules 2002 | 200’ - MC, TD | GOM | Cold Stacked 10/08 | |||||||||||||
30 | Hercules 2003 | 200’ - MC, TD | GOM | Cold Stacked 02/09 | |||||||||||||
31 | Hercules 2500 | 250’ - MS, TD | GOM | Cold Stacked 02/09 | |||||||||||||
Page 2 of 5
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 28, 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 | 12/10/12 | ||||||||||
Enroute | 12/24/12 | ||||||||||||||||
Myanmar | PTTEP | 95-97 | 135 | 05/08/13 | 45 day priced option at $95 - $97K dayrate | ||||||||||||
3 | Hercules 260 | 250’ - ILC, TD | Cameroon | Perenco | 89-91 | 12 | 12/10/12 | ||||||||||
Shipyard | 02/08/13 | Scheduled downtime for ABS 5-year special survey/repairs | |||||||||||||||
Perenco | 89-91 | 92 | 05/11/13 | ||||||||||||||
4 | Hercules 261 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 83-85 | 670 | 09/29/14 | ||||||||||
5 | Hercules 262 | 250’ - ILC, TD | Saudi Arabia | Saudi Aramco | 79-81 | 710 | 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 | 444 | 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
Hercules Offshore
Monthly Rig Fleet Status Report
as of
November 28, 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 | Ready Stacked | |||||||||||||
2 | Hercules 41 | Posted - 3000 hp, TD | US Inland Gulf Coast | Castex | 26-28 | 43 | 01/10/13 | ||||||||||
3 | Hercules 49 | Posted - 3000 hp, TD | US Inland Gulf Coast | Square Mile | 22-24 | 14 | 12/12/12 | ||||||||||
Average | 19 | days | |||||||||||||||
4 | Hercules 01 | Conv - 2000 hp | US Inland Gulf Coast | Cold Stacked 10/08 | |||||||||||||
5 | Hercules 11 | Conv - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 02/09 | |||||||||||||
6 | Hercules 15 | Conv - 2000 hp | US Inland Gulf Coast | Cold Stacked 12/08 | |||||||||||||
7 | Hercules 19 | Conv - 1000 hp | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
8 | Hercules 27 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
9 | Hercules 28 | Conv - 3000 hp | US Inland Gulf Coast | Cold Stacked 05/08 | |||||||||||||
10 | Hercules 46 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
11 | Hercules 48 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | |||||||||||||
12 | Hercules 52 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
13 | Hercules 55 | Posted - 3000 hp, TD | US Inland Gulf Coast | Cold Stacked 03/09 | |||||||||||||
14 | Hercules 57 | Posted - 2000 hp, TD | US Inland Gulf Coast | Cold Stacked 01/09 | |||||||||||||
15 | 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” are actively marketed and may have a reduced number of crew, but 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
Hercules Offshore
Liftboat Fleet Status Report
for the month ended
October 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 | ||||||||||||||||||
230 | 1 | 1 | $ | 26,465 | 31 | 100 | % | |||||||||||
170-215 | 4 | 4 | 16,099 | 120 | 97 | % | ||||||||||||
140-150 | 5 | 5 | 9,786 | 144 | 93 | % | One vessel in drydock in November | |||||||||||
120-130 | 14 | 12 | 6,967 | 286 | 77 | % | Two vessels in drydock in October and November | |||||||||||
105 | 15 | 10 | 6,479 | 202 | 65 | % | Two vessels in drydock in October and one vessel in drydock in November | |||||||||||
Sub-total/Average | 39 | 32 | $ | 9,531 | 783 | 79 | % | |||||||||||
International | ||||||||||||||||||
230-260 | 3 | 2 | $ | 46,770 | 31 | 50 | % | |||||||||||
170-215 | 6 | 6 | 37,310 | 152 | 82 | % | One vessel in drydock in October and two vessels in drydock in November | |||||||||||
140-150 | 4 | 4 | 15,660 | 93 | 75 | % | One vessel in drydock in October and November | |||||||||||
120-130 | 7 | 7 | 11,777 | 156 | 72 | % | One vessel in drydock in October | |||||||||||
105 | 4 | 2 | 11,207 | 31 | 50 | % | ||||||||||||
Sub-total/Average | 24 | 21 | $ | 23,244 | 463 | 71 | % | |||||||||||
Total/Average | 63 | 53 | $ | 14,627 | 1,246 | 76 | % | |||||||||||
(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, completed shipyard upgrades and commenced initial contract in November 2012. |
(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